The Global Proximity Mobile payment market is growing owing to the adoption of smartphones and focus on payment security
The global proximity mobile payment market has the potential to grow with USD 700.4 billion, with historical CAGR in the forecast period from 2020-2027. Factors driving the market demand for proximity mobile payment are penetration of smartphones, advancement in technology, bolstering cases of unsecured bank transactions.
NFC near field communication technology evolved from the integration of non-contact radio frequency identification (RFID) and interconnection technology. It combines inductive card reader, inductive card, and point-to-point functions on a single chip, which is compatible with short distance and can perform identification and data exchange.
A mobile phone using NFC technology or proximity mobile payment is equivalent to turning the mobile phone into a payment terminal, which can directly swipe to pay. Proximity mobile payment method is currently standard on mainstream mobile phones, and major banks have already launched NFC-based services.
Benefiting from the improvement of the mobile internet environment, services in various industries are close to the lives of the people. It shows a trend of transformation, and the innovative development of mobile finance has been prevalent.
Moreover, based on its convenient and portable characteristics, mobile finance can cut into the daily life of customers. It increased the frequency of interaction between banks and customers and promoted the improvement of banking product marketing and service capabilities.
Technology overview in the Global Proximity Mobile Payment Market
Based on technology, the global proximity mobile payment market classified Barcodes, Near Field Communication. The barcodes segment will dominate the largest market share in the worldwide proximity mobile payment market. It is mainly to owing the interconnection of QR codes that can bring a fairer competition environment to various payment institutions. It is relatively beneficial to small and medium-sized payment institutions and will not bring fundamental changes to the market structure.
Application overview in the Global Proximity Mobile Payment Market
Based on application, the global proximity mobile payment market segmented into Hospitality and Tourism, IT and Telecommunications, Aviation, Retail, Media and Entertainment, BFSI, Healthcare. The retail segment is dominating the market demand of the global proximity mobile payment market. It is mainly due to the adoption of smartphone payments that has to transform the in-store shopping experience of customers. Even though retailers and consumers have evaluated their approval to date, proximity mobile payments are starting to grow at a mounting pace and will soon become the conventional method of payment.
Moreover, the retail sector will boom its demand by accepting payment through mobile wallets that adds value to consumers and makes purchasing as flexible and convenient and making proximity mobile payment a streamlined method.
Region overview in the Global Proximity Mobile Payment Market
Based on geography, the global proximity mobile payment market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America region is dominating the market share of the global proximity mobile payment market. It is mainly owing to the adoption of technology, and the emerging prevalence of the internet of things, the use of smartphones, emerging various payment solutions, improving transaction methods. Thus, all these factors help in propelling the market demand for the global proximity mobile payment market.
Global Proximity Mobile Payment Market: Competitive Landscape
Companies such as ACI Worldwide Inc., Starbucks Corporation, Visa Inc., FIS Global., Apple Inc., Samsung Electronics Co. Ltd., Square Inc., PayPal Holdings Inc., Alphabet Inc., Mastercard Incorporated, Vodafone Group Plc., CVS Health Group, and others are key players in the global proximity mobile payment market.
Global Proximity Mobile Payment Market Report Content 1. Research Strategic Development 1.1. Market Modelling 1.2. Product Analysis 1.3. Market Trend and Economic Factors Analysis 1.4. Market Segmental Analysis 1.5. Geographical Mapping 1.6. Country Wise Segregation 2. Research Methodology 2.1. Identification of Target Market 2.2. Data Acquisition 2.3. Refining of Data/ Data Transformations 2.4. Data Validation through Primary Techniques 2.5. Exploratory Data Analysis 2.6. Graphical Techniques/Analysis 2.7. Quantitative Techniques/Analysis 2.8. Visual Result/Presentation 3. Executive Summary 4. Market Insights 4.1. Economic Factor Analysis 4.1.1. Drivers 4.1.2. Trends 4.1.3. Opportunities 4.1.4. Challenges 4.2. Competitors & Product Analysis 4.3. Regulatory Framework 4.4. Company market share analysis, 2019 4.5. Porter's Five forces analysis 4.6. New Investment Analysis 4.7. PESTEL Analysis 5. Global Proximity Mobile Payment Market Overview 5.1. Market Size & Forecast, 2016-2027 5.1.1. Demand 5.1.1.1. By Value (USD Million) 5.2. Market Share & Forecast, 2016-2027 5.2.1. By Product Type 5.2.1.1. NFC Chip 5.2.1.2. Micro SD Card 5.2.1.3. Integrated SIM 5.2.1.4. Reader & Middleware 5.2.2. By Application 5.2.2.1. Mobile Payment 5.2.2.2. Ticketing 5.2.2.3. Booking 5.2.2.4. Data Sharing 5.2.2.5. Access Control 5.2.2.6. Non-Payment 5.2.2.7. Infotainment 5.2.2.8. Advertisement 5.2.3. By Region 5.2.3.1. Europe 5.2.3.2. North America 5.2.3.3. Asia Pacific 5.2.3.4. South America 5.2.3.5. Middle East & Africa 6. Europe Proximity Mobile Payment Market Overview 6.1. Europe Proximity Mobile Payment Market Size & Forecast, 2016-2027 6.1.1. Demand 6.1.1.1. By Value (USD Million) 6.2. Europe Proximity Mobile Payment Market Share & Forecast, 2016-2027 6.2.1. By Product Type 6.2.1.1. NFC Chip 6.2.1.2. Micro SD Card 6.2.1.3. Integrated SIM 6.2.1.4. Reader & Middleware 6.2.2. By Application 6.2.2.1. Mobile Payment 6.2.2.2. Ticketing 6.2.2.3. Booking 6.2.2.4. Data Sharing 6.2.2.5. Access Control 6.2.2.6. Non-Payment 6.2.2.7. Infotainment 6.2.2.8. Advertisement 6.2.3. By Country 6.2.3.1. Germany 6.2.3.2. UK 6.2.3.3. France 6.2.3.4. Italy 6.2.3.5. Rest of Europe 6.2.4. Company Market Share (Top 3-5) 6.2.5. Economic Impact Study on Europe Proximity Mobile Payment Market 7. North Proximity Mobile Payment Market Overview 7.1. North America Proximity Mobile Payment Market Size & Forecast, 2016-2027 7.1.1. Demand 7.1.1.1. By Value (USD Million) 7.2. North America Proximity Mobile Payment Market Share & Forecast, 2016-2027 7.2.1. By Product Type 7.2.1.1. NFC Chip 7.2.1.2. Micro SD Card 7.2.1.3. Integrated SIM 7.2.1.4. Reader & Middleware 7.2.2. By Application 7.2.2.1. Mobile Payment 7.2.2.2. Ticketing 7.2.2.3. Booking 7.2.2.4. Data Sharing 7.2.2.5. Access Control 7.2.2.6. Non-Payment 7.2.2.7. Infotainment 7.2.2.8. Advertisement 7.2.3. By Country 7.2.3.1. US 7.2.3.2. Canada 7.2.3.3. Mexico 7.2.4. Company Market Share (Top 3-5) 7.2.5. Economic Impact Study on North America Proximity Mobile Payment Market 8. Asia Pacific Proximity Mobile Payment Market Overview 8.1. Asia Pacific Proximity Mobile Payment Market Size & Forecast, 2016-2027 8.1.1. Demand 8.1.1.1. By Value (USD Million) 8.2. Asia Pacific Proximity Mobile Payment Market Share & Forecast, 2016-2027 8.2.1. By Product Type 8.2.1.1. Barcodes 8.2.1.2. Near Field Communication 8.2.2. By Application 8.2.2.1. Hospitality and Tourism 8.2.2.2. IT and Telecommunications 8.2.2.3. Aviation 8.2.2.4. Retail 8.2.2.5. Media and Entertainment 8.2.2.6. BFSI 8.2.2.7. Healthcare 8.2.2.8. Advertisement 8.2.3. By Country 8.2.3.1. China 8.2.3.2. India 8.2.3.3. Japan 8.2.3.4. Australia 8.2.3.5. Rest of Asia Pacific 8.2.4. Company Market Share (Top 3-5) 8.2.5. Economic Impact Study on Asia Pacific Proximity Mobile Payment Market 9. South America Proximity Mobile Payment Market Overview 9.1. South America Proximity Mobile Payment Market Size & Forecast, 2016-2027 9.1.1. Demand 9.1.1.1. By Value (USD Million) 9.2. South America Proximity Mobile Payment Market Share & Forecast, 2016-2027 9.2.1. By Product Type 9.2.1.1. Barcodes 9.2.1.2. Near Field Communication 9.2.2. By Application 9.2.2.1. Hospitality and Tourism 9.2.2.2. IT and Telecommunications 9.2.2.3. Aviation 9.2.2.4. Retail 9.2.2.5. Media and Entertainment 9.2.2.6. BFSI 9.2.2.7. Healthcare 9.2.3. By Country 9.2.3.1. Brazil 9.2.3.2. Argentina 9.2.3.3. Rest of South America 9.2.4. Company Market Share (Top 3-5) 9.2.5. Economic Impact Study on South America Proximity Mobile Payment Market 10. Middle East & Africa Proximity Mobile Payment Market Overview 10.1. Middle East & Africa Proximity Mobile Payment Market Size & Forecast, 2016-2027 10.1.1. Demand 10.1.1.1. By Value (USD Million) 10.2. Middle East & Africa Proximity Mobile Payment Market Share & Forecast, 2016-2027 10.2.1. By Product Type 10.2.1.1. Barcodes 10.2.1.2. Near Field Communication 10.2.2. By Application 10.2.2.1. Hospitality and Tourism 10.2.2.2. IT and Telecommunications 10.2.2.3. Aviation 10.2.2.4. Retail 10.2.2.5. Media and Entertainment 10.2.2.6. BFSI 10.2.2.7. Healthcare 10.2.3. By Country 10.2.3.1. Saudi Arabia 10.2.3.2. UAE 10.2.3.3. South Africa 10.2.3.4. Rest of Middle East & Africa 10.2.4. Company Market Share (Top 3-5) 10.2.5. Economic Impact Study on Middle East & Africa Proximity Mobile Payment Market 11. Competitor Analysis 11.1. Company Description 11.2. Financial Analysis 11.3. Key Products 11.4. Key Management Personnel 11.5. Contact Address 11.6. SWOT Analysis 11.7. Company Profile 11.7.1.1. ACI Worldwide Inc. 11.7.1.2. Starbucks Corporation 11.7.1.3. Visa Inc. 11.7.1.4. FIS Global. 11.7.1.5. Apple Inc. 11.7.1.6. Samsung Electronics Co. Ltd. 11.7.1.7. Square Inc. 11.7.1.8. PayPal Holdings Inc. 11.7.1.9. Alphabet Inc. 11.7.1.10. Mastercard Incorporated 11.7.1.11. Vodafone Group Plc. 11.7.1.12. CVS Health Group 11.7.1.13. Other players
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