Mobile Money is a technology that allows consumers to receive, store and spend money using a mobile phone. Also known as a mobile wallet. It is an easy, fast and secure transfer where the sender sends money from their bank to another mobile money account. There are more than 270 different mobile money services throughout the world. Mobile money offers a dual promise, as an engine for financial inclusion, and as an emerging markets business opportunity for providers. It is a popular alternative to both cash and banks because it's easy to use, secure, and can use anywhere there is a mobile phone signal.
Mobile Money Market size was valued at US$ 3.9 Bn. in 2020 and the total revenue is expected to grow at 26 % through 2021 to 2027, reaching nearly US$ 19.66 Bn.
Mobile Money Market Overview:
The Mobile Money market research study investigates and analyses the market's position during the forecast period. It is comprehensive research that focuses on primary and secondary drivers, market dominance, important segments, and geographic analysis. The study also examines noteworthy personalities, big partnerships, mergers, and acquisitions, as well as current innovation and corporate strategy.
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Mobile Money Market Scope:
We looked at the Mobile Money Market from every perspective possible, using both primary and secondary research methods. This increased our understanding of current market dynamics such supply-demand imbalances, pricing trends, product preferences, and customer behaviour. The data is then compiled and assessed using a range of market estimates and data validation processes. Furthermore, we have an in-house data forecasting engine that forecasts market growth until 2027.
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Mobile Money Market Segmentation:
By Payment Type, proximity payments have a 57% market share in 2020. Proximity payments are made via mobile phones and point-of-sale equipment. Nowadays, many businesses have applications that support proximity payments. Proximity payments are specifically enabled for short distances and function if both the payer and the payee are in the same place.
Mobile Money Market Key Players:
• Vodafone
• Google
• Orange
• FIS
• PayPal
• MasterCard
• Fiserve
• Airtel
• Gemalto
• Alipay
• MTN
• PAYTM
• Samsung
• VISA
• Tencent
• Global Payments
• Square
• Amazon
• Apple
• Western Union Holdings
• Comviva
• T- Mobile
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Primary and secondary research is used to identify market leaders, and primary and secondary research is utilized to calculate market revenue. In-depth interviews with important thought leaders and industry specialists such as experienced front-line staff, CEOs, and marketing professionals were conducted as part of the core research. Primary research comprised in-depth interviews with prominent thought leaders and industry specialists, such as experienced front-line staff, CEOs, and marketing professionals, while secondary research included a review of the main manufacturers' annual and financial reports. Secondary data is used to calculate percentage splits, market shares, growth rates, and worldwide market breakdowns, which are then compared to historical data. The players highlighted in this report are as follows:
Regional Analysis:
The study takes an in-depth look at the local industry, using both qualitative and quantitative data. It gives a segment-by-segment overview and forecast of the worldwide Mobile Money market. It also offers market size and forecast estimates for five major regions, including North America, Europe, Asia-Pacific, the Middle East and Africa, and South America, from 2021 to 2027. Each area's Mobile Money market is further subdivided into regions and segments. The report investigates and forecasts many countries, as well as existing trends and prospects in the field.
COVID-19 Impact Analysis on Mobile Money Market:
We thoroughly researched and analyzed the Mobile Money Market Development Strategy post-COVID-19, by corporate strategy analysis, landscape, type, application, and leading countries, which encompasses and analyses the potential of the Mobile Money industry, providing statistical data on market dynamics, growth factors, major challenges, PORTER analysis, and market entry strategy analysis, opportunities, and forecasts. The major purpose of the research is to offer industrial businesses a strategic analysis of COVID-19's influence. Simultaneously, this investigation looked into the markets of major countries and highlighted their market potential.
Key Questions Answered in the Mobile Money Market Report are:
What are the most promising high-growth opportunities in the Mobile Money sector, as defined by product category, End User, and Region?
Which Mobile Money market segments will expand the fastest, and why?
Which areas will expand the fastest, and why?
What are the primary elements influencing Mobile Money market dynamics? What are the primary drivers and obstacles in the Mobile Money market?
What are the Mobile Money market's business risks and dangers?
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