Global Mobile Payment Market: Global Industry Trends, , Size, Growth, Opportunity and Forecast 2021-2030
The global mobile
payment market was valued USD 1.5 trillion in 2020 and it anticipated to
reach USD 18.9 trillion in 2030, with 28.60% CAGR in forecast period. Electronic
devices & semiconductors are critical technological enablers that power a
large number of today's cutting-edge digital gadgets. Mobile devices,
communications equipment, information technology, office automation (IT &
OA), industrial machinery, cars, and a variety of other end-use sectors all
have computer applications in some form or another, necessitating increased need
for semiconductors.Emerging technologies like as autonomous driving, artificial
intelligence (AI), 5G, and the Internet of Things, together with steady R&D
expenditure and rivalry among important companies, are expected to propel the
global semiconductor industry forwards far into the next decade.With the
Covid-19 epidemic driving increased demand for electronic gadgets, the world's
electronics and semiconductor industries predict a bright future.
Market Dynamics and Factors:
The use of safety-related electronics
technologies in the automobile industry has exploded. A spike in demand for
different semiconductor devices in automobiles, such as microcontrollers
(MCUs), sensors, and memory, would help automotive semiconductor providers. In
the coming decade, more semiconductor content will be added to automobile
electronics and subsystems due to automation, electrification, digital
connection, and security. The major driver of semiconductor growth in consumer
electronics will be head-mounted displays. Wearables devices and smart watches
will also be new areas of growth. Other consumer electronics markets, such as
DVD and portable media players, will, nevertheless, experience significant
decreases. As a result, the total growth in consumer electronics revenue will
be modest.
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Market Segmentation:
On
the basis of mode of transaction, the global mobile payment market is segmented
into NFC (near field communication), SMS (short message service), and WAP
(wireless application protocol). On the basis of type of mobile payment, the
market is categorized into mobile wallet, bank cards, and mobile money. On the
basis of application, the market is divided into entertainment, healthcare,
energy and utilities, transportation & hospitality, and others. Geographic
breakdown and analysis of each of the aforesaid segments includes regions
comprising North America, Europe, Asia-Pacific, and RoW.
Competitive
Analysis:
·
Orange
S.A.
·
MasterCard
Incorporated
·
Vodacom
Group Limited
·
MTN Group
Limited
·
Bharti
Airtel Limited
·
PayPal
Holdings, Inc.
·
Econet
Wireless Zimbabwe Limited
·
Mahindra
Comviva
·
Millicom
International Cellular.
Geographic Analysis:
On a regional basis,North
American consumer electronics industry is expected to develop steadilybecause
of the large number of internet users and the early adoption of smart household
electric equipment& IOT Technology. The presence of important industry
leaders like as Apple, Google, Amazon, and General Electric, as well as
significant expenditures in R&D operations by numerous market participants,
may be credited to the region's success.
The consumer electronics sector
in Europe has developed, and it is backed by a high-tech connection
environment. The trend of smart workplaces and smart homes is increasing demand
for consumer electronics goods such as smart TVs, smart refrigerators, smart
air conditioners, and more as technology advances.The Asia Pacific area will
continue to be the world's largest consumer of semiconductors. The primary
contributing component will be a growing share of Chinese items, which is
boosting the expansion of the whole Asia Pacific market. Additional mergers and
acquisitions will help the semiconductor industry develop in the future.
MEA Electronics &
Semiconductor market will observe promising growth.Despite growing pressure
from low oil prices and rising global economic uncertainty, MEA's retail sales
activity continues to expand, according to the research. Solid fundamentals,
including as growing population and earnings, as well as a continuous stream of
tourists to the emirate, are credited with the emirate's resiliency.
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