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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Mobile Payment Market Analysis by Region
North America is anticipated to dominate the mobile payment market share in the forecast period. In 2023, 104 million Americans aged 14 years and older used in-store mobile payment apps, marking a significant milestone. By 2028, use is expected to reach 58% of all smartphone users in the coming years. By the end of 2025, over 85% of Americans are likely to own smartphones, leading to a greater uptake of mobile payments at the business-to-consumer level.
The Europe mobile payment market is being driven by the consumer preference for digital payments, easier cross-border transactions, and the launch of the European Digital Identity Wallet. Mobile online payment systems in Europe have surged by over 30% in the past three years. In Germany, around 44% of all domestic online transactions are done using digital wallets.
The Asia Pacific is expected to hold a prominent market share in the coming years, driven by the rise of e-commerce and the O2O (Online to Offline) market. The mobile payment market landscape across the Asia Pacific region is changing rapidly owing to unsettling digital transformation. Technological developments in the smartphone and government initiatives have enabled POS at retail terminals and on-the-go fund transfers, which are fuelling the market growth.
Mobile Payment Market Report Snapshots
Mobile Payment Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market value was nearly USD 2,986.00 billion.
The market is projected to grow at a CAGR of 18.8% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach around USD 14,422.00 billion by 2032.
The major market drivers include increasing smartphone users and rising internet penetration.
The key trends include technological advancements in the mobile payment landscape and the growth of the e-commerce sector.
The transaction modes of mobile payment include mobile web payments, near field communication, and SMS direct carrier billing, among others.
The major end users of mobile payment include personal, and business.
The major players in the market include American Express Company, Apple Inc., Google LLC, JPMorgan Chase & Co., Mastercard Incorporated, Paytm (One 97 Communications Limited), and PayPal Holdings, Inc.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124