The global M-commerce payment market, as reported by Allied Market Research, witnessed significant growth in recent years. In 2020, it generated $7,345.24 billion in revenue, and it is projected to reach $33,153.13 billion by 2030. This growth reflects a compound annual growth rate (CAGR) of 16.5% from 2021 to 2030. The report offers an extensive analysis of various aspects, including market dynamics, key segments, value chain, investment opportunities, regional outlook, and competitive landscape.
The market’s expansion is primarily driven by factors such as the widespread use of smartphones, easy access to high-speed internet, and the increasing adoption of m-commerce payments for online shopping and banking transactions. The growth of the overall m-commerce industry further contributes to this positive trend. However, certain challenges exist, such as the cost and geographical limitations associated with payment gateways, as well as concerns regarding data breaches and security issues during payment transactions. Despite these limitations, the market is expected to benefit from the rising adoption of m-commerce payments in emerging countries and the ongoing digitization of the payment sector. These factors are likely to create new opportunities in the coming years.
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COVID-19 Scenario:
- The outbreak of the COVID-19 pandemic had a positive impact on the global M-commerce payment market, owing to rise in usage and adoption of online & digitalized payment methods among consumers worldwide.
- Moreover, banks and finance companies are providing multiple options of m-commerce payments across the globe in order to speed up their transaction process and enhance digitalized payments in the market. This, in turn, is boosting the growth of the market.
The report offers detailed segmentation of the global M-commerce payment market based on payment method, transaction type, application, age group, and region.
Based on transaction type, the M-retailing segment held the highest market share in 2020, holding around two-fifths of the total market share, and is expected to continue its leadership status during the forecast period. However, the M-ticketing segment is estimated to register the highest CAGR of 19.1% from 2021 to 2030.
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Based on application, the personal segment held the largest market share in 2020, holding around more than two-thirds of the total market share, and is expected to continue its leadership status during the forecast period. However, the business segment is projected to register the highest CAGR of 19.0% from 2021 to 2030.
Based on region, Asia-Pacific contributed to the highest share in terms of revenue in 2020, holding more than one-third of the total market share, and is estimated to continue its dominant share by 2030. Moreover, the same region is projected to manifest the fastest CAGR of 19.4% during the forecast period. The report also mentions North America, Europe, and LAMEA.
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Leading players of the global M-commerce payment market analyzed in the research include ACI Worldwide, Inc., Alphabet Inc. (Google), Apple Inc., FIS, Fiserv, Inc., Ingenico, Mastercard, PayPal Holdings, Inc., Square, Inc., and Visa, Inc.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.