The global m-commerce payment market size is expected to grow from $5.26 billion in 2021 to $7.25 billion in 2022 at a compound annual growth rate (CAGR) of 37.9%. The global Mcommerce payment market size is expected to grow to $27.09 billion in 2026 at a CAGR of 39.0%.
What is the Global M-commerce Payment Market?
The m-commerce payment market consists of sales of m-commerce payments services by entities (organizations, sole traders, and partnerships) that involve buying and selling of goods and services online, through smartphones and tablets. M-commerce payments refer to the use of mobile phones and tablets in order to complete the transactions online on any purchase of online products or services. M-commerce payments are helpful as they provide convenience to the user and save time and effort.
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What drives the Global M-commerce Payment Market?
The increasing mobile and internet penetration is expected to propel the growth of the m-commerce payment market. M-commerce payment is the use of wireless handheld devices like mobile phones and tablets to conduct commercial transactions online, including the purchase and sale of products, online banking, and paying bills. The increasing internet access and penetration allows more people to access m-commerce services, driving the market. According to Data Reportal, a Singapore-based business intelligence company, as of October 2021, 4.88 billion people (almost 62%) in the world are using the internet. According to forecasts from Ericsson & The Radicati Group, the number of smartphone users is expected to increase from 6.05 billion in 2020 to nearly 7.33 billion by 2025. Therefore, increasing mobile and internet penetration is driving the growth of the m-commerce payment market.
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Global M-commerce Payment Market Segments
The global m-commerce payment market is segmented:
By Payment Method: Near Field Communication, Premium SMS, Wireless Application Protocol, Direct Carrier Billing
By Mode of Transaction: Mobile Retailing, Mobile Booking or Ticketing, Mobile Banking, Mobile Billing
By End-Use Industry: Retail, Hospitality and Tourism, IT and Telecommunication, BFSI, Media and Entertainment, Healthcare, Airline
By Geography: The regions covered in the m-commerce payment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
M-commerce Payment Global Market Report 2022provides market size and growth forecasts for the global m-commerce payment market, global m-commerce payment market share, m-commerce payment market segments and geographies, m-commerce payment market competitive landscape including leading competitors’ revenues, profiles and market shares. The m-commerce payment market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global M-commerce Payment Industry Playersinclude ACI Worldwide, Inc., Alphabet Inc., BHIM UPI, Fidelity National Information Services, Fiserv, Inc., Freecharge, Google Pay, Mastercard, MobiKwik, Orange S.A, PayPal Holdings, PayUMoney, Samsung, Square, Inc., Visa, Inc., Alipay, American Express, Apple Inc., China UnionPay, DH Corporation, Discover, Ingenico, Jack Henry & Associates Inc., and Tenpay. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
