As the report shows, the growth in the global mobile payments industry is driven by the surge in penetration of smartphones, the rise in adoption of mobile payments in emerging countries, and the rise of the m-commerce industry. However, concerns regarding security and data breach are expected to restrain the market growth. On the other hand, the demand for rapid and hassle-free transactions are expected to offer opportunities for further growth.
Other key findings:
mobile wallet/bank cards segment is estimated to grow at the highest CAGR of 35.2% from 2017 to 2023;
Asia-Pacific is expected to remain dominant by 2023, growing at the highest CAGR of 35.5% during the forecast period.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now