Global Mobile Money Market Research to 2021
4th Aug, 2016: A new trending news at JSB market research on “Global Mobile Money Market Research to 2021” The process of determining and verifying the market size for several segments and sub-segments gathered through secondary research, extensive primary interviews were conducted with key people.
Indispensable requirement to have ubiquitous access to financial solutions is driving the mobile money market
The mobile money market size is estimated to grow from USD 21.15 billion in 2016 to USD 112.29 billion by 2021, at an estimated Compound Annual Growth Rate (CAGR) of 39.64% from 2016 to 2021. Technological advancement in mobile devices, indispensable requirement to have ubiquitous access to financial solutions, rising use of non-cash payments, creation of new business avenues for stakeholders, evolving demographic needs across regions, rising use of mobile money services across businesses are some of the driving forces in the mobile money market.
Person to person nature of payment segment to gain maximum market size during the forecast period
Person to person segment, under nature of payments, is expected to account for the largest market share during the forecast period 2016–2021 as this payment service provided by banks offers customers with heightened convenience of immediate withdraws and deposits and facilitate instant money transfers through any mobile device and Mobile Network Operator (MNO).
By location, remote payments dominate the mobile money market during the forecast period
By location, remote payments segment dominates the mobile money market and contributes the largest market share. The reason being this type of payment usually makes use of premium SMS, mobile web/WAP, STK/USSD, browser, and mobile applications and can be processed over a subscriber’s mobile phone bill, prepaid payments, and debit or credit card payments. These payments are beneficial for consumers as they can be conducted through any type of mobile phone, ranging from a basic handset to smartphones.
The break-up of profiles of primary participants is given below:
• By Company Type: Tier 1: 40%, Tier 2: 40%, and Tier 3: 20%
• By Designation: C level: 30%, Director level: 40%, and Others: 30%
• By Region: North America: 30%, APAC: 35%,Europe: 35%,
The various key vendors profiled in the report are as follows:
1. Vodafone Group Plc
2. Gemalto
3. FIS
4. Google Inc.
5. Mastercard Incorporated
6. Bharti Airtel Limited
7. Orange S.A.
8. Monitise Plc
9. Mahindra Comviva
10. PayPal
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the Mobile Money comprehensively and provides the closest approximations of the revenue numbers for the overall market and subsegments across different verticals and regions.
2. The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
This report will help stakeholders to better understand the competitors and gain more insights to better their position in the business. The competitive landscape section includes new product launches, partnerships, agreements & collaborations, mergers & acquisitions, and expansions.
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