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.
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.
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.
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