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United States Mobile Payment Market Size, Share, Analysis: By Technology: Direct Mobile Billing, Near Field Communication, Mobile Web Payment, SMS, Mobile Application, Others; By Payment Type: B2B, B2C, B2G; By Location: Remote Payment, Proximity Payment; By End Use; Regional Analysis; Competitive Landscape; 2024-2032
United States Mobile Payment Market Outlook
The United States mobile payment market size reached approximately USD 641.79 billion in 2023. The market is further projected to grow at a CAGR of 23.7% between 2024 and 2032, reaching a value of USD 4474.00 billion by 2032.
Key Trends in the Market
Mobile payments refer to the payment or transfer of funds from person to person or businesses and merchants for products and services or bills. The payment tools include mobile browsers and e- or virtual wallets, among others. The different types of mobile payments include proximity payments and remote payments.
- The growing popularity of mobile wallets due to their easy usage and convenient and secure nature is supporting the United States mobile payment market growth. The open mobile wallets offer flexibility by allowing users to store different payment methods that are not tied to a specific company.
- The rising concerns regarding cleanliness and hygiene are propelling the requirement for seamless and safer payment solutions such as mobile payments. These payment solutions align with the preferences of a vast majority of the consumers that require reduced physical contact, speed, and efficiency.
- The growing popularity of subscription-based services including Spotify, Amazon Prime, Netflix, and Audible, among others in the United States are boosting the requirement for mobile payment solutions.
United States Mobile Payment Market Analysis
On the basis of technology, the market is divided into direct mobile billing, near field communication, mobile web payment, SMS, and mobile application, among others. Based on payment type, the market is classified into B2B, B2C, and B2G.
On the basis of location, the market is bifurcated into remote payment and proximity payment. Based on end use, the market is categorised into BFSI, healthcare, IT and telecom, media and entertainment, retail and e-commerce, and transportation, among others.
On the basis of region, the United States mobile payment market segmentation includes New England, Mideast, Great Lakes, Plains, Southeast, Southwest, Rocky Mountain, and Far West.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- PayPal Holdings Inc.
- Apple Inc.
- Alphabet Inc.
- Block, Inc.
- Samsung Electronics Co. Ltd.
- Microsoft Corp.
- Mastercard Inc.
- Amazon.com Inc.
- MoneyGram International, Inc.
- Visa Inc.
- Others
Market Share by Location
Remote payments account for a significant United States mobile payment market share. This growth can be attributed to the secure nature of the payments owing to the presence of various security measures including biometrics, two factor authentication, and OTPs, among others. The rising requirement for recurring payment solutions due to the growing popularity of subscription-based services is supporting the segment growth.
Market Share by End Use
Retail and e-commerce are anticipated to witness significant growth over the forecast period. The integration of the retail and e-commerce sectors with mobile payment solutions has enhanced the shopping experience for the consumers by offering unprecedented speed and convenience. The introduction of rewards and loyalty programs by various retailers on the utilisation of mobile payment solutions is further boosting the United States mobile payment market demand.
Competitive Landscape
PayPal Holdings Inc., headquartered in California, United States, specialises in mobile payments, mobile commerce, payment processing, money transfer, online payments, and monetisation of e-commerce and developers, among others.
Apple Inc., headquartered in California, United States, is one of the leading designers, manufacturers, and distributors of personal computers, smartphones, and tablets, among others. The company also specialises in mobile payments, AirPods, and iPads, among others.
Alphabet Inc. is a multinational technology company that is the parent company to various subsidiaries including Google, Waymo, Verily, and BufferBox, among others. The company was founded in 2015 and is headquartered in California, United States.
Other United States mobile payment market key players include Block, Inc., Samsung Electronics Co. Ltd., Microsoft Corp., Mastercard Inc., Amazon.com Inc., MoneyGram International, Inc., and Visa Inc., among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Technology |
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| Breakup by Payment Type |
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| Breakup by Location |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
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 Market Snapshot
7 Opportunities and Challenges in the Market
8 North America Mobile Payment Market Overview
8.1 Key Industry Highlights
8.2 North America Mobile Payment Historical Market (2018-2023)
8.3 North America Mobile Payment Market Forecast (2024-2032)
8.4 North America Mobile Payment Market Breakup by Region
8.4.1 United States
8.4.2 Canada
9 United States Mobile Payment Market Overview
9.1 Key Industry Highlights
9.2 United States Mobile Payment Historical Market (2018-2023)
9.3 United States Mobile Payment Market Forecast (2024-2032)
10 United States Mobile Payment Market by Technology
10.1 Direct Mobile Billing
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Near Field Communication
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Mobile Web Payment
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 SMS
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Mobile Application
10.5.1 Historical Trend (2018-2023)
10.5.2 Forecast Trend (2024-2032)
10.6 Others
11 United States Mobile Payment Market by Payment Type
11.1 B2B
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 B2C
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 B2G
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
12 United States Mobile Payment Market by Location
12.1 Remote Payment
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Proximity Payment
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
13 United States Mobile Payment Market by End Use
13.1 BFSI
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Healthcare
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 IT and Telecom
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 Media and Entertainment
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Retail and E-Commerce
13.5.1 Historical Trend (2018-2023)
13.5.2 Forecast Trend (2024-2032)
13.6 Transportation
13.6.1 Historical Trend (2018-2023)
13.6.2 Forecast Trend (2024-2032)
13.7 Others
14 United States Mobile Payment Market by Region
14.1 New England
14.1.1 Historical Trend (2018-2023)
14.1.2 Forecast Trend (2024-2032)
14.2 Mideast
14.2.1 Historical Trend (2018-2023)
14.2.2 Forecast Trend (2024-2032)
14.3 Great Lakes
14.3.1 Historical Trend (2018-2023)
14.3.2 Forecast Trend (2024-2032)
14.4 Plains
14.4.1 Historical Trend (2018-2023)
14.4.2 Forecast Trend (2024-2032)
14.5 Southeast
14.5.1 Historical Trend (2018-2023)
14.5.2 Forecast Trend (2024-2032)
14.6 Southwest
14.6.1 Historical Trend (2018-2023)
14.6.2 Forecast Trend (2024-2032)
14.7 Rocky Mountain
14.7.1 Historical Trend (2018-2023)
14.7.2 Forecast Trend (2024-2032)
14.8 Far West
14.8.1 Historical Trend (2018-2023)
14.8.2 Forecast Trend (2024-2032)
15 Market Dynamics
15.1 SWOT Analysis
15.1.1 Strengths
15.1.2 Weaknesses
15.1.3 Opportunities
15.1.4 Threats
15.2 Porter’s Five Forces Analysis
15.2.1 Supplier’s Power
15.2.2 Buyer’s Power
15.2.3 Threat of New Entrants
15.2.4 Degree of Rivalry
15.2.5 Threat of Substitutes
15.3 Key Indicators for Demand
15.4 Key Indicators for Price
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 PayPal Holdings Inc.
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 Alphabet Inc.
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 Block, Inc.
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 Samsung Electronics Co. Ltd.
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 Microsoft Corp.
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 Mastercard 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 Amazon.com Inc.
16.2.8.1 Company Overview
16.2.8.2 Product Portfolio
16.2.8.3 Demographic Reach and Achievements
16.2.8.4 Certifications
16.2.9 MoneyGram International, Inc.
16.2.9.1 Company Overview
16.2.9.2 Product Portfolio
16.2.9.3 Demographic Reach and Achievements
16.2.9.4 Certifications
16.2.10 Visa Inc.
16.2.10.1 Company Overview
16.2.10.2 Product Portfolio
16.2.10.3 Demographic Reach and Achievements
16.2.10.4 Certifications
16.2.11 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. North America Mobile Payment Market: Key Industry Highlights, 2018 and 2032
2. United States Mobile Payment Market: Key Industry Highlights, 2018 and 2032
3. United States Mobile Payment Historical Market: Breakup by Technology (USD Billion), 2018-2023
4. United States Mobile Payment Market Forecast: Breakup by Technology (USD Billion), 2024-2032
5. United States Mobile Payment Historical Market: Breakup by Payment Type (USD Billion), 2018-2023
6. United States Mobile Payment Market Forecast: Breakup by Payment Type (USD Billion), 2024-2032
7. United States Mobile Payment Historical Market: Breakup by Location (USD Billion), 2018-2023
8. United States Mobile Payment Market Forecast: Breakup by Location (USD Billion), 2024-2032
9. United States Mobile Payment Historical Market: Breakup by End Use (USD Billion), 2018-2023
10. United States Mobile Payment Market Forecast: Breakup by End Use (USD Billion), 2024-2032
11. United States Mobile Payment Historical Market: Breakup by Region (USD Billion), 2018-2023
12. United States Mobile Payment Market Forecast: Breakup by Region (USD Billion), 2024-2032
13. United States Mobile Payment Market Structure
Key Questions Answered in the Report
The market reached a value of approximately USD 641.79 billion in 2023.
The market is projected to grow at a CAGR of 23.7% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 4474.00 billion by 2032.
The major market drivers include rising concerns regarding cleanliness and hygiene and integration of the retail and e-commerce sectors with mobile payment solutions.
The key trends fuelling the growth of the market include growing popularity of mobile wallets and increasing popularity of subscription-based services.
The major regions in the market are New England, Mideast, Great Lakes, Plains, Southeast, Southwest, Rocky Mountain, and Far West.
The end uses include BFSI, healthcare, IT and telecom, media and entertainment, retail and e-commerce, and transportation, among others.
The key players in the market are PayPal Holdings Inc., Apple Inc., Alphabet Inc., Block, Inc., Samsung Electronics Co. Ltd., Microsoft Corp., Mastercard Inc., Amazon.com Inc., MoneyGram International, Inc., and Visa Inc., among others.
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