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Mobile Money Market – Analysis of Global Industry, Size, Share, Growth, Trends and Forecasts 2016 – 2024
This press release was orally distributed by SBWire
Albany, NY – (SBWIRE – 07/10 / 2018 – Some of the players that dominate the global mobile money market are PayPal Holdings, Inc., Square, Inc., WePay, Inc., Boku, Inc. and Fortumo OUe. The entry of new players intensifies the competitive landscape. As competition warms, there is the emergence of companies such as Judo Payments, Bango.net Ltd, and Dwolla, Inc. at the forefront, observes Transparency Market Research. The main players represent a 40% share of the global market in 2015.
Major players consolidate their positions by opting for acquisitions. Several key players focus on developing advanced products with innovative features and advanced features, in order to gain a competitive edge over others. A number of emerging and established players target small and medium-sized businesses and offer secure and secure mobile payment features to strengthen their presence in the global marketplace. As part of the short-term strategy, these actors are exploiting lucrative opportunities in the economies of the Middle East and Europe.
Get the details of the report @ https://www.transparencymarketresearch.com/mobile-money-market.html[19659002] The different payment methods for mobile money usually include SMS, NFC, billing mobile and USSD / STK. Of all the modes, the mobile SMS payments segment dominated in 2015 and is expected to maintain its influence throughout the forecast period. The market is expected to grow at a rate of growth until 2024. The growth of the segment is due to their widespread use attributed to great convenience and ease of payment by SMS.
At the regional scale, the market is segmented in the Middle East and Africa (MEA), Latin America, Asia-Pacific (APAC), Europe and North America. Of these, Europe held the leading position in the global market and is expected to maintain its leading position throughout the evaluation period. However, the MEA is expected to grow at a significant CAGR from 2016 to 2024. The meteoric growth of this regional market is due to the increasing penetration of the Internet and tablets and the considerable progress made in the telecommunications technology sector.
SMS in various countries of MEA, APAC and Europe has accentuated market growth. The burgeoning demand for mobile billing, WAP-based payments and payment customers in various developed and developing economies is boosting the mobile money market. In addition, the growing importance of money transfers and the payments segment is a key factor in the market.
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The advent of safer mobile payment methods is strengthening demand among affluent consumers in developing and developed countries. The demand for secure payments among the BFSI, hospitality and energy sectors gives a strong impetus to market growth. In addition, mobile payment methods NFC and UUSD / STK are gaining ground in the coming years. In addition, the growing popularity of broadcast time transfers and the increasing demand for refills are important factors in driving market growth.
factor likely to hinder the market. In addition, the presence of disparate systems between different transactions and services also hinders market growth to a certain extent. In addition, the lack of well – defined financial inclusion policies practiced by governments is a key factor that constitutes a bottleneck for the market. Whatever the case may be, the growing penetration of mobile telephony in several emerging markets has opened up many opportunities for telecom operators. In addition, the surging demand for mobile payments among connected device manufacturers and service providers is a key factor that should open up interesting prospects in the market in the coming years.
For more information on this press release, visit: //www.sbwire.com/press-releases/mobile-money-market-burgeoning-mobile-penetration-in-emerging-economies-to- accentuate-growth-1009190.htm
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