Top Companies in Mobile Payments Market | Top Leading Players Growth, Regional analysis by VMR
The increasing demand for smartphones globally and the rising m-commerce industry in the emerging countries are the prime factors driving the growth of the Mobile Payments Market during the forecast period.
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Upcoming Trends in Mobile Payments Market
Overview:
The Global Mobile Payments Market is valued at USD 1,729.5 Billion in 2021 and is projected to reach a value of USD 6,317.5 Billion by 2028 at a CAGR of 24.10% over the forecast period. The Mobile Payments Market is currently under transition with a history of numerous tried and failed solutions and a future of promising yet uncertain possibilities with contactless RFID and other new potential technologies.
Mobile phones have transformed communication during the past 15 years. As devices, mobile phones have for a long time been equipped with functionalities that far exceed the needs of telephony, and have inspired the development of value-added mobile services, the use of mobile phones as access devices, and mobile commerce in general. These developments open very lucrative opportunities to merchants and service providers. There are more mobile phones than any other device that can be used to market, sell, produce or provide products and services.
The major driving factors for the Mobile Payments Market to flourish are the lower dependency on banks and increased cashless transactions. Mobile Payments are becoming more popular in countries such as India and China. This is also helping to promote sustainability and avoid the use of paper and precious metals. Digitalization and advanced technologies are the prime driving factors for the Mobile Payments market to flourish in the coming years.
List of top key players in the Mobile Payments Market:
|
Company Name |
Revenue in USD |
|
$378 Billion |
|
$257 Billion |
|
$130 Billion |
|
$18 Billion |
|
$451 million |
|
$24 Billion |
|
$1 Billion |
|
$9 Billion |
|
$25 Billion |
Apple Inc. is an American multinational technology company that specializes in consumer electronics, software, and online services. The company is headquartered in California, US. The company is listed in the stock market as AAPL (NASDAQ). In 2021, the company generated revenue of USD 124 Billion and has approximately 70,000 employees working. Apple Inc. has numerous subsidiaries such as Beats Electronics, Beddit, NextVR, Inc., Apple Store, and others.
Google LLC is an American multinational technology company that focuses on artificial intelligence, search engine, online advertising, cloud computing, computer software, quantum computing, e-commerce, and consumer electronics. The company is listed as GOOG (NASDAQ) and generated revenue of USD 182 Billion in 2021. The company has approximately 1,30,000. Google LLC has numerous subsidiaries such as YouTube, Dialogflow, Kaggle, Google AdMob, Looker, and others.
J.P. Morgan Chase & Co. is an American multinational investment bank and financial services holding company headquartered in New York City and incorporated in Delaware. The company is listed as JPM (NYSE) in the New York stock market. In 2021, the company generated revenue of USD 48.3 Billion and has 21,364 employees working. The company has numerous subsidiaries such as J.P. Morgan Chase, J.P. Morgan Chase (UK) Holdings Limited, J.P. Morgan Overseas Capital Corp., and others.
Mastercard Inc. is an American multinational financial services corporation headquartered in the Mastercard International Global Headquarters in Purchase, New York. The Global Operations Headquarters is located in O'Fallon, Missouri, a municipality of St. Charles County, Missouri. The company is listed in the New York stock market as MA (NYSE). The company has numerous subsidiaries such as Access Prepaid Australia Pty Ltd., Cirrus, Transfast, and others.
One97 Communications is an Indian e-commerce and fintech company, headquartered in Noida, India. It was founded in 2000 by Vijay Shekhar Sharma. As of June 2021, One97 Communications is valued at USD 5 Billion making it one of the most valuable unicorn companies in India. The company is listed as PAYTM in the NSE market. The company generated revenue of USD 5.6 Billion in 2021 and has approximately 2,339 employees working.
PayPal Holdings, Inc. is an American multinational financial technology company operating an online payments system in the majority of countries that supports online money transfers and serves as an electronic alternative to traditional paper methods such as checks and money orders. The company is listed as PYPL (NASDAQ) and generated revenue of USD 25.37 Billion in 2021.
PayU is a Netherlands-based payment service provider to online merchants. The company was founded in 2002 and is headquartered in Hoofddorp. It allows online businesses to accept and process payments through payment methods that can be integrated with web and mobile applications. The company is a privately held organization consisting of approximately 1,000 employees.
Samsung Electronics Co., Ltd. is a South Korean multinational electronics corporation headquartered in the Yeongtong District of Suwon. It is the pinnacle of the Samsung chaebol, accounting for 70% of the group's revenue in 2012. The company is listed on the Korean stock market as 005930 (KRX).
Visa Inc. is an American multinational financial services corporation headquartered in Foster City, California, United States. It facilitates electronic funds transfers throughout the world, most commonly through Visa-branded credit cards, debit cards, and prepaid cards. The company is listed as V in the NYSE stock market and generated revenue of USD 24.11 Billion in 2021. The company has approximately 21,500 employees.
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For More Information about each of these companies.
Vantage Market Research Report comes up with a detailed analysis of each major player in the industry. The Study provides Global market size & share, Emerging trends, an in-depth analysis of key players, Development opportunities, Sales, and a Revenue Forecast.
Read Full Research Report: https://www.globenewswire.com/news-release/2022/05/04/2435661/0/en/Mobile-Payments-Market-to-Hit-USD-6317-5-Billion-by-2028-Mobile-Payments-Industry-CAGR-of-24-10-Between-2022-2028-Exclusive-Insight-Report-by-Vantage-Market-Research.html
