Global Mobile Payment Market Revenues to rise to $998.5 billion in 2016, a CAGR of 83.7%, according to new research report by IE Market Research Corporation
Vancouver, February 9, 2012 – IE Market Research Corporation (IEMR), the Canadian-based provider of market intelligence services, announced today the release of its 4Q.2011 Global Mobile Payment Market Forecast 2010 - 2016. IEMR’s forecast provides our quarterly historical results and annual forecasts of mobile payment users; mobile payment transactions by technology (such as NFC, SMS, WAP, USSD); and mobile payment transactions by type of purchase (such as merchandise, digital products, ticketing, mobile money transfers, bill payments, and pre-paid top-ups). The report is based on IEMR’s Global Consumer Telecommunications Survey – which covers 50,000 mobile users in 50 markets globally – and is the most extensive country-specific forecasts of its kind.
More and more telecom operators, banks and retailers are teaming up to offer mobile payment solutions around the world, and the global mobile payment market is growing rapidly. “Globally, we are expecting mobile payment revenue to rise from $47.2 billion in 2011 to $998.5 billion in 2016. Compound Annual Growth Rate (CAGR) from 2012 to 2016 will be 83.7%,” said Nizar Assanie, Vice President (Research) at IEMR. “Among different categories of mobile payment, we expect that digital purchases will be the largest category with its revenues increasing from $9.8 billion in 2011 to $250.9 billion in 2016.”
M-commerce and mobile contactless transactions are poised to promote ‘less-cash’ societies all over the world. Mr. Assanie said, “Our usage surveys show that North American and Western European markets in particular are geared up for the beginning stages of a full-fledged adoption of the digital wallet.”
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Ms. Sue Mcbride
IE Market Research
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