Jul 29, 2021 (Market Insight Reports) -- Albany, New York: ResearchMoz.us has announced the addition of a new report titled "Mobile Payment Technologies Market – Global Industry Analysis, Size, Share, Growth, Trends, And Forecast 2018 – 2026" to its document repository. The study enclosed in around 222 pages gives bird's-eye view of the mobile payment technologies market throughout the forecast period of 2018 to 2026. Thus, this study gives clear synopsis on the drivers, restraints, challenges, growth avenues, competitive landscape, and regional analysis of the market. In addition, it also sheds light on various technologies that are shaping the market growth.
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Growing Technology Adoption Boosts Sales Avenues in Mobile Payment Technologies Market
A mobile payment refers to the payment of money made for a service or product using a portable electronic device including cell phone or a tablet. Over the period of past few years, the mobile payment technology is increasingly utilized for transfer of money to family members or friends. To carry out this activity, many applications such as Venmo or PayPal are utilized. There is immense growth in the adoption of this technology owing to its ability to offer high level of customer convenience. Thus, growing technology adoption is likely to boost the sales of the companies operating in the global mobile payment technologies market in the upcoming few years.
Presence of Well-Entrenched Players Makes Market's Competitive Landscape Intense
Visa, Inc., MasterCard International Inc., Boku, Inc., American Express, Co., PayPal, Inc., Fortumo, Vodafone Ltd., Bharti Airtel Ltd., Google, Inc., AT & T, Inc., Ant Financial Services Group, Apple, Inc., Microsoft Corporation, and Tencent are some of the key players operating in the global mobile payment technologies market. Owing to the presence of many well-entrenched players, the competitive landscape of the market for mobile payment technologies seems to be highly intense. Thus to maintain their leading position, enterprises are utilizing various organic and inorganic strategies.
The companies in the mobile payment technologies market are consistently pushing their limits in order to offer superior quality products and services to their customers. To achieve this motive, they are increasing their cash in-flow toward the research and development activities. Apart from this, they are seen engaged in the mergers, acquisitions, partnerships, and collaboration activities. On the back of all these activities, the market for mobile payment technologies is projected to expand at sturdy pace in the years to come.
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Asia Pacific: Promising Region for Mobile Payment Technologies Market Growth
In terms of region, the mobile payment technologies market shows presence in many regions such as Europe, North America, Asia Pacific, South America, and the Middle East and Africa. Of them, Asia Pacific is one of the prominent regions for the market players. This region is expected to create prominent expansion opportunities for the mobile payment technologies market in the upcoming years. Some of the key factors supporting this estimation include rapid expansion of ecommerce sector, increased population, and early adoption of the advanced technologies for money transaction activities in the region.
Mobile Payment Technologies Market Segmentation
The data and statistics from global mobile payment technologies market is presented in the form of various segments. This segmentation is based on several crucial parameters including type, proximity payment type, remote payment type, purchase type, end-use, and region. In terms of purchase type, the report bifurcates the mobile payment technologies market into many segments such as money transfers and payments, airtime transfers and top-ups, travel and ticketing, merchandise and coupons, and others. Based on end-use, the market is classified into BFSI, hospitality and tourism sector, retail sector, media and entertainment, education, health care, IT and telecommunication, and others.
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