Mobile Money Market
Global Mobile Money Market: Growth Factors
Constantly developing technology comprised of new product lines are the major drivers for the global mobile money market. Mobile money has become a crucial component of the advance e- commerce industries. In last few years, mobile money market has experienced a rapid upsurge in increasing automation, integrating the entire value chain, and technological advancements of the e-commerce industries. This is anticipated to foster the global mobile money market growth in next few years. Growth in the e-commerce activities and increasing awareness consumer awareness about the internet may fuel the global market growth in coming years. Increasing double income and rising urbanization is expected to propel the global mobile money market growth. However, huge initial investment needs for development of mobile money may hinder the global market growth.
Global Mobile Money Market: Segmentation
The global mobile money market is classified based on the nature of payment as business-tobusiness, person-to-business, person-to-person, and business-to-person. On the basis of transaction mode, the global market is bifurcated as IVRS, NFC / smart card, STK / USSD, direct mobile billing, mobile apps, mobile web / WAP payments, SMS, and others. Moreover, on the basis of the type of purchase, the global market is divided into travel and ticketing, money transfers and payments, airtime transfer and top-ups, digital products, and merchandise and coupons. Furthermore, based on vertical, the global mobile money market is fragmented as energy and utilities, media and entertainment, travel and hospitality, BFSI, transportation and logistics, healthcare, retail, telecom and IT, and others.