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Global Mobile Payment Market to Grow at a CAGR of 18.8% During 2024-2032, Aided by Artificial Intelligence

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Global Mobile Payment Market Size, Share, Report, Analysis: By Transaction Mode: Mobile Web Payments, Near Field Communication, Others; By End User: Personal, Business; By Purchase Type: Airtime Transfer and Top Ups, Money Transfers and Bill Payments, Others; By Application, Others; Regional Analysis; Competitive Landscape; 2024-2032

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 Size

Mobile Payment Market Trends

Mobile Payment Companies

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.

1   Preface
2   Report Coverage – Key Segmentation and Scope
3   Report Description
   3.1   Market Definition and Outlook
   3.2   Properties and Application
   3.3   Market Analysis
   3.4   Key Players
4   Key Assumptions
5   Executive Summary
   5.1   Overview
   5.2   Key Drivers
   5.3   Key Developments
   5.4   Competitive Structure
   5.5   Key Industrial Trends
6   Snapshot
   6.1   Global
   6.2   Regional
7   Opportunities and Challenges in the Market
8   Global Mobile Payment Market Analysis
   8.1   Key Industry Highlights
   8.2   Global Mobile Payment Historical Market (2018-2023)
   8.3   Global Mobile Payment Market Forecast (2024-2032)
   8.4   Global Mobile Payment Market by Transaction Mode
       8.4.1   Mobile Web Payments
           8.4.1.1 Historical Trend (2018-2023)
           8.4.1.2 Forecast Trend (2024-2032)
       8.4.2   Near Field Communication
           8.4.2.1 Historical Trend (2018-2023)
           8.4.2.2 Forecast Trend (2024-2032)
       8.4.3   SMS Direct Carrier Billing
           8.4.3.1 Historical Trend (2018-2023)
           8.4.3.2 Forecast Trend (2024-2032)
       8.4.4   Others
   8.5   Global Mobile Payment Market by End User
       8.5.1   Personal
           8.5.1.1 Historical Trend (2018-2023)
           8.5.1.2 Forecast Trend (2024-2032)
       8.5.2   Business
           8.5.2.1 Historical Trend (2018-2023)
           8.5.2.2 Forecast Trend (2024-2032)
   8.6   Global Mobile Payment Market by Purchase Type
       8.6.1   Airtime Transfer and Top Ups
           8.6.1.1 Historical Trend (2018-2023)
           8.6.1.2 Forecast Trend (2024-2032)
       8.6.2   Money Transfers and Bill Payments
           8.6.2.1 Historical Trend (2018-2023)
           8.6.2.2 Forecast Trend (2024-2032)
       8.6.3   Merchandise and Coupons
           8.6.3.1 Historical Trend (2018-2023)
           8.6.3.2 Forecast Trend (2024-2032)
       8.6.4   Travel and Ticketing
           8.6.4.1 Historical Trend (2018-2023)
           8.6.4.2 Forecast Trend (2024-2032)
       8.6.5   Others
   8.7   Global Mobile Payment Market by Application
       8.7.1   Media and Entertainment
           8.7.1.1 Historical Trend (2018-2023)
           8.7.1.2 Forecast Trend (2024-2032)
       8.7.2   Energy and Utilities
           8.7.2.1 Historical Trend (2018-2023)
           8.7.2.2 Forecast Trend (2024-2032)
       8.7.3   Healthcare
           8.7.3.1 Historical Trend (2018-2023)
           8.7.3.2 Forecast Trend (2024-2032)
       8.7.4   Retail
           8.7.4.1 Historical Trend (2018-2023)
           8.7.4.2 Forecast Trend (2024-2032)
       8.7.5   Hospitality and Transportation
           8.7.5.1 Historical Trend (2018-2023)
           8.7.5.2 Forecast Trend (2024-2032)
       8.7.6   Others
   8.8 Global Mobile Payment Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2023)
8.8.4.2 Forecast Trend (2024-2032)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2023)
8.8.5.2 Forecast Trend (2024-2032)
9 North America Mobile Payment Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Mobile Payment Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Mobile Payment Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Mobile Payment Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Mobile Payment Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 American Express Company
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Apple, Inc.
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Google LLC
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 JPMorgan Chase & Co.
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Mastercard Incorporated
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Paytm (One 97 Communications Limited)
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Paypal Holdings, Inc.
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Others
17 Key Trends and Developments in the Market

List of Key Figures and Tables

1.   Global Mobile Payment Market: Key Industry Highlights, 2018 and 2032
2.   Global Mobile Payment Historical Market: Breakup by Source (USD Billion), 2018-2023
3.   Global Mobile Payment Market Forecast: Breakup by Source (USD Billion), 2024-2032
4.   Global Mobile Payment Historical Market: Breakup by Transaction Mode (USD Billion), 2018-2023
5.   Global Mobile Payment Market Forecast: Breakup by Transaction Mode (USD Billion), 2024-2032
6.   Global Mobile Payment Historical Market: Breakup by End User (USD Billion), 2018-2023
7.   Global Mobile Payment Market Forecast: Breakup by End User (USD Billion), 2024-2032
8.   Global Mobile Payment Historical Market: Breakup by Purchase Type (USD Billion), 2018-2023
9.   Global Mobile Payment Market Forecast: Breakup by Purchase Type (USD Billion), 2024-2032
10.   Global Mobile Payment Historical Market: Breakup by Application (USD Billion), 2018-2023
11.   Global Mobile Payment Market Forecast: Breakup by Application (USD Billion), 2024-2032
12.   Global Mobile Payment Historical Market: Breakup by Region (USD Billion), 2018-2023
13.   Global Mobile Payment Market Forecast: Breakup by Region (USD Billion), 2024-2032
14.   North America Mobile Payment Historical Market: Breakup by Country (USD Billion), 2018-2023
15.   North America Mobile Payment Market Forecast: Breakup by Country (USD Billion), 2024-2032
16.   Europe Mobile Payment Historical Market: Breakup by Country (USD Billion), 2018-2023
17.   Europe Mobile Payment Market Forecast: Breakup by Country (USD Billion), 2024-2032
18.   Asia Pacific Mobile Payment Historical Market: Breakup by Country (USD Billion), 2018-2023
19.   Asia Pacific Mobile Payment Market Forecast: Breakup by Country (USD Billion), 2024-2032
20.   Latin America Mobile Payment Historical Market: Breakup by Country (USD Billion), 2018-2023
21.   Latin America Mobile Payment Market Forecast: Breakup by Country (USD Billion), 2024-2032
22.   Middle East and Africa Mobile Payment Historical Market: Breakup by Country (USD Billion), 2018-2023
23.   Middle East and Africa Mobile Payment Market Forecast: Breakup by Country (USD Billion), 2024-2032
24.   Global Mobile Payment Market Structure

Key Questions Answered in the Report

What was the global mobile payment market value in 2023?

In 2023, the market value was nearly USD 2,986.00 billion.

What is the growth rate of the market?

The market is projected to grow at a CAGR of 18.8% between 2024 and 2032.

What is the forecast outlook of the global mobile payment market for 2024-2032?

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.

What are the major market drivers?

The major market drivers include increasing smartphone users and rising internet penetration.

What are the key trends of the mobile payment market?

The key trends include technological advancements in the mobile payment landscape and the growth of the e-commerce sector.

What are different transaction modes of mobile payment?

The transaction modes of mobile payment include mobile web payments, near field communication, and SMS direct carrier billing, among others.

What are the major end users for mobile payment?

The major end users of mobile payment include personal, and business.

Who are the key market players, according to the mobile payment industry?

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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