Mobile Money Market by Transaction Mode & by Nature of Payment 2016 by Transaction Mode (NFC/Smartcard, SMS, Mobile Ap

Mobile Money Market worth 112.29 Billion USD by 2021

The report "Mobile Money Market by Transaction Mode (NFC/Smartcard, SMS,
Mobile Apps), Nature of Payment (Person to Person, Person to Business, Business to
Person, and Business to Business), Location, Type of Purchase, Industry & Region Global Forecast to 2021", The mobile money market size is estimated to grow from USD
21.15 Billion in 2016 to USD 112.29 Billion by 2021, at an estimated Compound Annual
Growth Rate (CAGR) of 39.64% from 2016 to 2021.

Browse 67 market data Tables and 56 Figures spread through 176 Pages and in-depth
TOC on "Mobile Money Market by Transaction Mode (NFC/Smartcard, SMS, Mobile
Apps), Nature of Payment (Person to Person, Person to Business, Business to Person,
and Business to Business), Location, Type of Purchase, Industry & Region - Global
Forecast to 2021"
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Technological advancement in mobile devices, indispensable requirement to have ubiquitous
access to financial solutions, rising use of non-cash payments, creation of new business
avenues for stakeholders, evolving demographic needs across regions, rising use of mobile
money services across businesses are some of the driving forces in the mobile money market.
Mobile apps to play a key role in the mobile money market by 2021
Mobile apps are expected to have the largest market share in the mobile money market during
the forecast period. Mobile apps market share is expected to rise because these are built on
software which are compatible for use in smartphones and can be easily operated. Functions
such as send, receive, and withdraw money as well as view account information and manage
contacts can be done with these simple apps.
Person to business nature of payment expect to have the highest growth rate
In the nature of payment segment, the person to business sub-segment is expected to grow at
the highest rate followed by business to business. This nature of payment is most prominently
observed in case of e-commerce dealings, online shopping, bill payments, and air time
transfers done over mobile devices. It is expected to grow at fast rate because the rate of
transactions is high considering the high user base of the mobile-based ecommerce market.
Asia-Pacific region expected to contribute the largest market share in the mobile money
market