Global Mobile Payments market will grow at a CAGR of 36.26% by 2020.
This growth is mainly due to increasing penetration of Mobile Payments in various sectors, increase in analytics services and availability of affordable Mobile Payments solution and services to end users.
The Global mobile payment Industry is emerging as one of the most diverse, competitive and technologically complex market in the recent years. Currently the Global Mobile Payments market includes POS Devices Companies, Processor Companies, Network Companies, Issuer Companies, Applications Companies and Devices Companies. World leaders in these 6 different verticals are focusing on dominating the highly lucrative mobile payments market.
This research found that dominance of cash end-points, rudimentary commercial infrastructure, awareness and nascent regulatory framework have been the main threats for new entrants in the Mobile Payments space.
The main growth drivers accelerating the growth of the Mobile Payments industry are lower cost, quick transactions, high consumer reach, ease of payment and rising smartphone penetration levels.
In terms of geographies, Asia Pacific Mobile Payments Market controls the largest market share in terms of revenue in Global Mobile Payments market. The Asia Pacific Mobile Payments market is expected to grow at a CAGR of 37.08% till 2020 and maintain it's market leader position even in 2020.
North America Mobile Payments Market controls the second largest market share in terms of revenue in Global Mobile Payments market. The North American Mobile Payments market is expected to grow at a CAGR of 35.10% till 2020 and maintain it's market position even in 2020.
Europe Mobile Payments Market controls the third largest market share in terms of revenue in Global Mobile Payments market. The European Mobile Payments market is expected to register second largest growth rate of 34.18% till 2020 and maintain it's market position even in 2020.
The Middle East & Africa Mobile Payments market which currently has the smallest market share in terms of revenue in Global Mobile Payments market is expected to register growth rate of 36.26% till 2020.
The report has detailed company profiles including their position in mobile payments market value chain, financial performance analysis, product and service wise business strategy, SWOT analysis and key customer details for 13 key players in Global Mobile Payments market namely Alipay, Amazon Payments Inc., Android Pay, Apple Pay, MasterCard PayPass, Visa payWave, Google Wallet, SmartPay, PayPal Holdings Inc., bPay, Paytm (One97), FreeCharge and MobiKwik.
For more information visit http://www.researchandmarkets.com/research/m2c33s/global_mobile