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The Europe Mobile Payments Market Size would grow at a growth of 31.1% CAGR during the forecast period (2016 - 2022).
Mobile payment is a process of paying for goods or services or transfer of money through mobile/smartphones. The mobile payment industry has evolved significantly over the years with big brands entering the market and developing advanced technologies that provide ease of payment using mobile/smartphones. M-commerce is steadily making its way in almost every business and industry.
It provides benefits to both customers and retailers. It provides convenience and security to consumers. It makes the payment process easier and less complicated, at the same time consumers can securely pay without assuming the security risk. Growing market penetration of smartphones, unprecedented growth in m-commerce industry, changing lifestyle, and the need for quick and hassle-free transactions are some of the major factors that would drive the market growth.Based on type, the market is segmented into Mobile Wallets/Bank Cards and Mobile Money.
Based on Mode of Transaction, a market is segmented into Near Field Communication (NFC), Wireless Access Protocol (WAP), and Short Message Service (SMS). Based on Application, the market is segmented into Retail, Entertainment, Hospitality & Transportation, Healthcare, Energy & Utilities, and Others.Based on country, Europe Mobile Payments market is segmented into Germany, UK, France, Russia, Spain, Italy and Rest of Europe. Germany remained the dominant region in the Europe Mobile Payments market in 2015. Spain and France would witness promising CAGR during the forecast period (2016-2022).
The report covers the analysis of key stakeholders of the Mobile Payments market. Key companies profiled in the report include Orange S.A., MasterCard Incorporated, Bharti Airtel, MTN Group Limited, Safaricom Limited, eBay, Mahindra Comviva and Vodafone Group Plc.