Market Size in 2023 | Market Forecast in 2032 | CAGR (in %) | Base Year |
---|---|---|---|
USD 93.45 Billion | USD 1391.82 Billion | 35.0% | 2023 |
FrequentlyAsked Questions
Using a mobile device to perform and confirm the payment, a mobile payment is the transfer or payment of money, usually to an individual, merchant, or business for bills, goods, and services. Mobile browsers, SIM toolkits, and mobile menus are some examples of the payment tools that are available. Among the several mobile financial services (MFS) offered today is mobile payment, which is seen as a starting point for other MFSs, including investment products, credit/lending, insurance, and mobile banking. The use of cryptocurrencies by users for trading, savings, investment, and payment has increased recently.
The global mobile payment systems market is being driven by several factors including rising cashless transactions, increasing product launches, rising integration with advanced technology, a growing number of startups in the sector, and others.
According to the report, the global mobile payment systems market size was worth around USD 93.45 billion in 2023 and is predicted to grow to around USD 1391.82 billion by 2032.
The global mobile payment systems market is expected to grow at a CAGR of 35.0% during the forecast period.
The global mobile payment systems market growth is expected to be driven by the Asia Pacific. It is currently the world’s highest revenue-generating market due to the presence of the major players.
The global mobile payment systems market is dominated by players like Amazon.com Inc., Google (Alphabet Inc.), Alibaba Group Holdings Limited, Apple Inc., American Express Company, M Pesa, Money Gram International, PayPal Holdings Inc., Samsung Electronics Co. Ltd., WeChat (Tencent Holdings Limited), and Visa Inc., among others.
The mobile payment systems market report covers the geographical market along with a comprehensive competitive landscape analysis. It also includes cash flow analysis, profit ratio analysis, market basket analysis, market attractiveness analysis, sentiment analysis, PESTLE analysis, trend analysis, SWOT analysis, trade area analysis, demand & supply analysis, Porter’s five forces analysis, and value chain analysis.
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