Mobile Payment Technology Market Overview:

The Mobile Payment Technology Market analysis provides a full insight into the competition, including the market share and company profiles of the key worldwide rivals. The scope of the research covers a thorough investigation of the Mobile Payment Technology Market, as well as the causes for variances in the industry’s growth in different regions.

The Mobile Payment Technology Market is expected to grow at a CAGR of 29% during the forecast period and market is expected to reach US$ 1968.63 Bn. by 2029.

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Market Scope:

Following the completion of market engineering, which comprised market statistics calculations, estimations of market size, market projections, market breakdown, and data triangulation, major primary research was conducted to obtain information and verify and validate critical numbers. Top-down and bottom-up strategies, as well as several data triangulation procedures, were often used throughout the market engineering process to perform market estimating and forecasting for the overall market segments and sub-segments discussed in this research. In order to give vital information throughout the report, extensive qualitative and quantitative analysis is done on all data gathered throughout the market engineering process.

Segmentation:

NFC segment is anticipated to boost the mobile payment technology market on account of NFC-enabled smartphones. Various applications pertaining to mobile payment technology are BFSI, retail, healthcare, entertainment, IT and telecom, energy & utilities, hospitality & tourism, and others. The increasing adoption of mobile payments in the banking sector is expected to boost BFSI’s in the estimated timeframe.

Mobile wallets dominated the mobile payment technology market because of the increased penetration of digitalization. Mobile wallets are a relatively new payment option that can offer some serious benefits. Apple Pay, Samsung Pay, and Android Pal work across all major devices. Mobile wallet reduces fraud and reduces content in the wallet. Other popular wallet apps are retailer or brand-specific, such as Wal-Mart stores, Walmart pay, capital one financial corporation's (COF) Capital One Wallet, and the ubiquitous Starbucks wallet app from Starbucks Corporation (SBUX).

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Key Players:

Primary and secondary research is used to identify market leaders, and primary and secondary research are used to calculate market revenue. In-depth interviews with important thought leaders and industry professionals such as experienced front-line staff, CEOs, and marketing executives were conducted as part of the primary study. Primary research comprised in-depth interviews with key thought leaders and industry professionals such as experienced front-line staff, CEOs, and marketing executives, while secondary research included a review of the main manufacturers’ annual and financial reports. Secondary data is used to determine percentage splits, market shares, growth rates, and worldwide market breakdowns, which are then cross-checked with primary data.

• The biggest players in the Mobile Payment Technology Market are as follows:

• Orange S.A.
• Vodacom Group Limited
• MasterCard Incorporated
• Bharti Airtel Limited
• MTN Group Limited
• Safaricom Limited
• PayPal Holdings Inc.
• Econet Wireless Zimbabwe Limited
• Millicom International Cellular SA
• Mahindra Comviva
• AT &T’S
• JIO
• Apple Inc.
• Google LLC.
• One97 Communications Limited.
• Venmo.
• Vodafone Group Plc

Regional Analysis:

Individual market influencing components and changes in market regulations affecting the present and future market trends are also included in the regional overview of the Mobile Payment Technology Market analysis. Current and future trends are researched in order to assess the entire market potential and identify profitable patterns in order to get a stronger foothold. The geographical market assessment is based on the present environment and expected developments.

COVID-19 Impact Analysis on Mobile Payment Technology Market:

End-user industries where Mobile Payment Technology Market is utilized saw a dip in growth from January 2020 to May 2020 in a number of countries, including China, Italy, Germany, the United Kingdom, the United States, Spain, France, and India, due to a pause in operations. This resulted in a significant decrease in the revenues of businesses working in these industries and, as a result, in demand for Mobile Payment Technology Market manufacturers, influencing the development of the Mobile Payment Technology Market in 2020. End-user business demand for Mobile Payment Technology Market has declined significantly as a result of lockdowns and an increase in COVID-19 events worldwide.

Key Questions Answered in the Mobile Payment Technology Market Report are:

In 2021, which segment held the highest proportion of the Mobile Payment Technology Market?

What is the Mobile Payment Technology Market’s competitive landscape?

What are the primary drivers assisting the Mobile Payment Technology Market growth?

Which region has the most market share in the Mobile Payment Technology Market?

What will be the Mobile Payment Technology Market’s CAGR throughout the projected period?

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