CardWeb.com’s CardData Reports today features the “Asia Pacific Mobile Money Industry Prospects till 2019 – China and India to Bolster Growth” report by Ken Research.
The report provides an in-depth analysis of the Mobile Money Industry and covers specific insights on the market size in terms of global mobile money market value, region and product wise segmentation, value chain analysis, business models, recent trends and developments and future outlook of the mobile money Industry at the global and regional level. The report also entails a detailed description of the prominent and emerging geographic markets of the region including China and India.
In 2009, Asia Pacific accounted for the highest number of mobile payment users worldwide, followed by Europe and North America. Consequently, the region also noted the highest share in the transactions being operated through mobile devices, which was registered at 71.2% in 2009. Moreover, Asia-Pacific has continued to lead the market for mobile payment adoption in the world owing to the supportive policies of the governments in various nations and rapidly growing mobile phones subscriptions which has extended the services to even lower strata of the society.
The mobile payments market in Asia Pacific region is relatively varied and highly fragmented. The mobile money industry in China has showcased a magnificent growth over the span of last few years. India has an evolving landscape in terms of mobile money. The market is characterized with a huge fragmentation observed in the number and nature of services provided. Japan was the pioneer country which has had a long history of mobile payments. Japan and South Korea were amongst the leading nations for the adoption of mobile payments in the world and in Asia, owing to presence of most developed mobile cultures.
The share of mobile banking and card payments has however declined in the past years, owing to the increasing influx of players introducing mobile wallet services. Over the past years, many mobile wallets have been launched by various players such as telecom companies namely: Airtel Money (India), Smart Money and GCash (Philippines) and third party providers; for example, Alipay. Lakala, Tenpay (China).
The industry size is estimated to grow at a CAGR of 174.8% over the period of 2019-2019. The maximum growth is to be reflected by China and India.
For more information: http://www.researchandmarkets.com/research/2zqmmq/asia_pacific