M-commerce Payment Market is Booming and Predicted to Hit $33,153.13 billion by 2027, at 16.5% CAGR

NEW CASTLE, DELAWARE, UNITED STATES, December 13, 2023 /EINPresswire.com/ -- Access to high-speed internet and increase in use of m-commerce payments among merchants drive the global m-commerce payment market growth. Furthermore, rise in penetration of smartphones across the globe and development of the m-commerce industry in emerging countries are the major factors driving the growth of the market. However, rise in data breaches and security issues in mobile payments hamper the growth of the market. Restaurants, retailers, and merchants are the largest end user segments that adopted m-commerce payments method in their existing businesses.

According to the report published by Allied Market Research, the global M-commerce payment market generated $7,345.24 billion in 2020, and is projected to reach $33,153.13 billion by 2030, witnessing a CAGR of 16.5% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.

Increased penetration of smartphones and access to high-speed internet, massive adoption of m-commerce payments for online shopping and banking payments, and growth in the m-commerce industry drive the growth of the global M-commerce payment market. However, Expensive and geo-locational preference of payment gateways and increase in data breaches & security issues while conducting payments restrain the market to some extent. On the other hand, surge in adoption of m-commerce payment in emerging countries and rapid digitalization in payments sector present new opportunities in the upcoming years.

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COVID-19 Scenario:

The outbreak of the COVID-19 pandemic had a positive impact on the global M-commerce payment market, owing to rise in usage and adoption of online & digitalized payment methods among consumers worldwide.

Moreover, banks and finance companies are providing multiple options of m-commerce payments across the globe in order to speed up their transaction process and enhance digitalized payments in the market. This, in turn, is boosting the growth of the market.

The report offers detailed segmentation of the global M-commerce payment market based on payment method, transaction type, application, age group, and region.

Based on transaction type, the M-retailing segment held the highest market share in 2020, holding around two-fifths of the total market share, and is expected to continue its leadership status during the forecast period. However, the M-ticketing segment is estimated to register the highest CAGR of 19.1% from 2021 to 2030.

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Based on application, the personal segment held the largest market share in 2020, holding around more than two-thirds of the total market share, and is expected to continue its leadership status during the forecast period. However, the business segment is projected to register the highest CAGR of 19.0% from 2021 to 2030.

Based on region, Asia-Pacific contributed to the highest share in terms of revenue in 2020, holding more than one-third of the total market share, and is estimated to continue its dominant share by 2030. Moreover, the same region is projected to manifest the fastest CAGR of 19.4% during the forecast period. The report also mentions North America, Europe, and LAMEA.

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Leading players of the global M-commerce payment market analyzed in the research include ACI Worldwide, Inc., Alphabet Inc. (Google), Apple Inc., FIS, Fiserv, Inc., Ingenico, Mastercard, PayPal Holdings, Inc., Square, Inc., and Visa, Inc.

Key Benefits for Stakeholders

The study provides in-depth analysis of the global m-commerce payment market share along with current trends and future estimations to illustrate the imminent investment pockets.

Information about key drivers, restrains, and opportunities and their impact analysis on the global m-commerce payment market size are provided in the report.

The Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the m-commerce payment market.

An extensive analysis of the key segments of the industry helps to understand the m-commerce payment market trends.

The quantitative analysis of the global m-commerce payment market forecast from 2021 to 2030 is provided to determine the market potential.

M-commerce Payment Market Report Highlights

AspectsDetailsBy Payment Method

Mobile Web Payments
Near-field Communication
SMS/Direct Carrier Billing
Others

By Transaction Type

M-retailing
M-ticketing
M-billing
Others

By Application

Personal
18 to 30 Year
31 to 54 Year
55 to 73 Year
Business

By Region

North America (U.S., Canada, Mexico)
Europe (UK, Germany, France, Spain, Italy, Rest of Europe)
Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
LAMEA (Latin America, Middle East, Africa)

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About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" 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.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Allied Market Research
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