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Mobile Payment Market Booming with New Improved Revenue by 2023

The mobile payment market is in its maturity phase and is expected to grow at a CAGR of 33.8% during the forecast period. Increase is penetration of smartphones, growth in m-commerce industry, and rise in adoption of mobile payment in emerging economies drive the growth of the mobile payment market.

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Mobile Payment Market Booming with New Improved Revenue by 2023

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  1. Opportunity Analysis and Industry Forecast, 2016-2023 Mobile Payment Market Global Opportunity Analysis and Industry Forecast, 2016-2023

  2. Introduction • The mobile payment market is projected to reach $4,574 billion by 2023, growing at a CAGR of 33.8% from 2017 to 2023 • Increase is penetration of smartphones, growth in m-commerce industry, and rise in adoption of mobile payment in emerging economies drive the growth of the mobile payment market •  In the current scenario, services and goods providers extensively offer their services through mobile apps to assist customers by providing an easy and convenient shopping experience • Mobile money is expected to remain the major revenue contributor throughout the analysis period • With the advent of hotels and car rental apps, the hospitality & transportation segment is projected to witness the highest growth rate to reach $1,087,662 million by 2023

  3. Key Factors of the Market • The rise in demand for easy and hassle-free purchase of goods and services results in increased preference of consumers toward digital and cashless payments • With the growth in awareness about mobile wallets, along with launch of mobile wallet apps such as Google wallets and Paytm, the mobile wallet segment is expected to witness robust growth in the coming years • Retail occupied the largest share in the mobile payment market in 2016 • Several global players, such as Apple and Samsung, have designed new strategies to expand their reach and gain a larger share in the global mobile payment market

  4. Get PDF Brochure of this Insight @ https://www.alliedmarketresearch.com/request-sample/1778

  5. Key Benefits of the Market • The SMS segment accounted for the highest share of the mobile payment industry by mode of transaction in 2016, growing at a CAGR of 33.5% from 2017 to 2023 • The mobile money systems market by type of mobile payment generated the highest revenue share in 2016 and is projected to grow at a rate of 33.3% • The U.S. mobile payment market generated the highest share, valued at $58,638 million, in terms of revenue in 2016 • The mobile payment market for hospitality & transportation application is expected to witness the highest growth rate during the forecast period

  6. Market Segmentation

  7. Market Segmentation

  8. Key Players of the Market • 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 • For purchase enquiry, visit @ https://www.alliedmarketresearch.com/purchase-enquiry/1778

  9. Contact Allied Market Research About Allied Market Research: Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions". AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. Contact Us: 5933 NE Win Sivers Drive, #205, Portland, OR 97220, United States. Int'l: +1-503-894-6022 Toll Free: +1-800-792-5285 Fax: +1-800-792-5285

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