DUBLIN, June 9, 2020 /PRNewswire/ — The “Digital Payments Market – Growth, Trends, Forecasts (2020 – 2025)” report has been added to ResearchAndMarkets.com’s offering.
The transaction value of global mobile payments market was USD 3714.5 billion in 2019, and it is expected to reach a value of USD 12,407.5 billion by 2025, registering a CAGR of 23.8% over the forecast period 2020 – 2025. The global landscape of payments and transactions is changing rapidly, owing to the growing enterprises and consumer propensity toward digital transformation and proliferation of smartphones. The technological advancements in the space of smartphones, digital payment cards, and POS at retail terminals are fuelling the market growth.
Government initiatives across the globe are helping enhance the global digital payment space; the emphasis on moving towards a cashless economy is driving favorable regulations; also, the digital payment ecosystem helps governments curb tax frauds and maintain money trails.
For example, Italy has one of the lowest rates of credit cards used in the European region and has the highest VAT frauds in the region. To curb this, the government has set aside USD 3 billion for the next fiscal year to finance the bonuses to be offered as an incentive to those who use electronic payment services over cash.
The global demand for smartphones is increasing significantly and with technological advancements such as 5G are expected to further augment the global smartphone numbers. According to Ericsson, in 2019, the global smartphone subscriptions stood at 5.6 billion and are expected to reach 7.4 billion by 2025 or 84% of all the subscriptions. This is another major driving force for the market.
Cross-border payments are usually slow and expensive to perform, but such payments play a vital role in global trade. The typical national banking infrastructure cannot handle cross-border payments, thus resulting in independent and non-uniform development in software platforms and technologies complicating such payments.
The market is moderately concentrated. The competitive rivalry in the market is moderate, as a good number of players prevail. Despite the existence of several companies in the market studied, firms are required to keep innovating their products, in order to gain a sustainable competitive edge over their rivals and provide product differentiation.
Key Topics Covered:
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.3 Market Drivers
4.3.1 High Proliferation of Smartphones and Digital Initiatives
4.3.2 Favourable Changes in Regulatory Frameworks Across the Globe
4.4 Market Restraints
4.4.1 Operational Challenges Involving Cross-border Payments
4.5 Value Chain Analysis
4.6 Industry Attractiveness- Porters Five Forces Analysis
4.7 Assessment of Impact of Covid-19 on the Industry
5 MARKET SEGMENTATION
5.1 End-user Vertical
5.1.2 Retail and E-commerce
5.1.3 Media and Entertainment
5.1.5 Other End-user Verticals
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 PayPal Holdings Inc.
6.1.2 Visa Inc.
6.1.3 MasterCard Incorporated (MasterCard)
6.1.4 Amazon.com Inc.
6.1.5 Google LLC (Alphabet Inc.)
6.1.6 Apple Inc.
6.1.7 CCAvenue (Avenues India Pvt. Ltd)
6.1.8 Paytm Mobile Solutions Private Limited
6.1.9 Stripe Inc.
6.1.10 Alipay.com Co. Ltd
6.1.11 American Express Co
6.1.12 ACI Worldwide Inc
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/sebdiq
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