Sales Of Mobile Payment Are Expected To Exceed US$ 590 Billion By 2032

According to a recent Fact.MR report, during the projected period of 2022-2032, the market for mobile payments is expected to cross US$ 590 billion, growing at an astounding double-digit CAGR of 30%. The need for mobile payments is growing as smart mobile phone penetration and the number of e-commerce websites rise.

In the past, mobile payments sold more than US$ 36 billion globally between 2015 and 2021, growing at a CAGR of 27%. The COVID-19 pandemic's mandated social distance rules caused a drop in traditional face-to-face financial transactions, which compelled the use of mobile payment systems.

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Key Takeaways from the Market Study

By location, remote payments expected to hold more than 60% market share for mobile payment market.
By end use, BFSI industry expected to hold more than 20% market share for mobile payment market.
Mobile payment industry expected to possess nearly 25% market share throughout North America.
Mobile payment industry expected to possess nearly 35% market share throughout Asia Pacific.
U.S, China and India top three countries driving demand for mobile payment.
"Deepening digital literacy and the consequent increase in smartphone ownership has prompted consumers to rely on mobile payment technologies. Furthermore, ease of access and convenience is prompting major industries to deploy mobile financial transaction interfaces, broadening market growth prospects," states a Fact.MR analyst.

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Key Segments Covered in the Meat Substitute Industry Survey

By Source :
Plant-based Protein Meat Substitutes
Mycoprotein Meat Substitutes
Soy-based Meat Substitutes
Other Meat Substitutes
By Distribution Channel :
Meat Substitute Sales through Foodservice Channels
Meat Substitute Sales through Retail Channels

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After gleaning through the report, market participants and readers get a detailed exposure on various growth dynamics under these board sections.

A macroeconomic and microeconomic analysis of the market for replacement medical foods and the factors affecting it.

Key players in the market for medical foods alternatives were analysed using the SWOT and PESTLE models.
expert opinions on potential new directions
Problems facing important market participants in a more competitive environment
athlete biographies of well-known competitors
The key barriers to innovation are the shares and sizes of different product and/or application segments, and upcoming investment prospects.

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Competitive Landscape

In January 2022, PayPal Holdings Inc. launched gift wrapping feature with the help of Venmo. This feature helps to gift money to friends and family. The company is focusing on attracting consumers to use digital payments.
In 2018, Visa Inc. partnered with Allianz partners and launched "Allianz Prime"- a mobile payment and loyalty app. The company is focusing on providing fast, safe and easy payment options to its users.

The global Mobile Payment Market research provides answers to several critical questions, including:

What are some of the unexplored investment opportunities in the medical food alternatives market?
What factors are most likely to contribute to the region's development over the long term, and which are most likely to experience the most enticing growth rate?
What breakthroughs are most likely to dislodge the industry's top players in the near future?
Which kind of goods, services, or technologies have the potential to have a significant impact on the market for medical food substitutes?
What strategies are market players employing to retain their dominance in the Medical Foods Replacement sector?
What strategies will new competitors employ to gain a solid foothold in the market?

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