The “Online Retail Mobile Payment Transactions Market” 2023-2031 Research Report affords qualitative and quantitative insights into the principal drivers, constraints, opportunities, and challenges influencing world markets growth. The find out about offers complete statistical market records on the leading players, as nicely as income predictions. This market lookup additionally presents statistics on the income boom of numerous regional and country-level markets, as properly as the opposition panorama and unique organization analyses for the projected period. The Online Retail Mobile Payment Transactions Market Report covers potential improvement drivers as properly as the modern-day kingdom of market share, penetration of a number of kinds, technologies, applications, and areas thru 2031.
The global online retail mobile payment transactions market size was US$ 9.1 billion in 2021. The global online retail mobile payment transactions market is projected to grow to US$ 991.5 billion by 2030, registering a compound annual growth rate (CAGR) of 21.8% during the study period from 2022 to 2030.
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Mobile payments are ways to pay for goods and services using a variety of mobile devices. Mobile payments offer their consumers simple, quick, and secure payment processing methods.
Factors Influencing the Market :
The growing penetration of smartphones and the rising proliferation of the internet are expected to bring ample growth opportunities for the online retail mobile payment transactions market. Further, 5G networks are expected to unfold opportunities for the online retail mobile payment transactions market in North America, Asia, European, and Middle Eastern countries.
The swiftly growing size of the e-commerce industry depicts the future potential of the online retail mobile payment transactions market. Due to the rise in smartphone adoption and quick connectivity, mobile commerce has experienced a surge over the past several years. Due to the convenience of buying and receiving items at one’s doorstep, consumers are increasingly choosing mobile purchases for a variety of goods and services, including books, groceries, health & beauty products, fashion & accessories, and computers & gadgets. Thus, it will substantially drive the growth of the online retail mobile payment transactions market.
COVID-19 Impact Analysis :
The sudden onset of the COVID-19 pandemic significantly raised the user base on e-commerce platforms. The increasing global consumer adoption and use of online and digital payment systems are expected to bring ample growth opportunities for the market during the analysis timeframe. Online retail mobile payment transactions are significantly increasing as consumers become more accustomed to the available payment technology. Additionally, retail sectors worldwide are offering their clients mobile payment choices to speed up transaction times and advance the market for digital payments. Therefore, it will contribute to the growth of the online retail mobile payment transactions market.
Regional Analysis :
The Asia-Pacific online retail mobile payment transactions market is expected to record the highest growth rate, owing to the growing adoption of smartphones and the presence of a vast number of mobile manufacturers such as Samsung, and Xiaomi, in the region. Further, the rising regional population and increasing user base on e-commerce platforms are expected to unfold a host of opportunities for the online retail mobile payment transactions market as people are fast migrating to online resources due to convenience.
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Competitors in the Market
ACI Worldwide, Inc.
Alipay.com
Amazon Payments, Inc.
American Express
Apple Inc.
Block, Inc.
FIS
Google
Ingenico
JPMorgan Chase & Co.
Mastercard
One97 Communications Limited
PayPal Holdings Inc.
Samsung
Visa Inc.
PayU
Obopay
Other Prominent Players
Market Segmentation
The global online retail mobile payment transactions market segmentation focuses on Type, Age Group, Payment, End User, and Region.
By Type
Proximity Payment
o Proximity Payment Type
? Near Field Communication (NFC)
? Quick Response (QR) Code
Remote Payment
o Remote Payment Type
? Mobile Web Payments
? SMS/Direct Carrier Billing
? Digital Wallet
? Others
By Age Group
18 to 30 Year
31 to 54 Year
55 to 73 Year
Others
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By Payment Type
Push Payment
Pull Payment
By End User
Personal
Business
By Regional Outlook
? North America
o The U.S.
o Canada
o Mexico
? Europe
? Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
? Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
? Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
? Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
? South America
o Brazil
o Argentina
o Rest of South America
Key questions answered in the Online Retail Mobile Payment Transactions market report are:
- How does a global company acquire markets?
- What are its core strategies and policies?
- What factors will influence the Online Retail Mobile Payment Transactions market over the forecast period?
- What are the factors driving and restraining the market for Online Retail Mobile Payment Transactions?
- What are the leading competitors in the global market?
- Which region is growing at a higher pace in the global market?
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