Mobile Payments Market to Almost Triple in Value by 2015 Reaching $670bn, According to New Juniper Report
HAMPSHIRE, UNITED KINGDOM--(Marketwire - Jul 5, 2011) - A new study from Juniper Research has determined that the total value of mobile payments for digital and physical goods, money transfers and NFC (Near Field Communications) transactions will reach $670bn by 2015, up from $240bn this year. These forecasts represent the gross merchandise value of all purchases or the value of money being transferred.The new Mobile Payments Strategies report revealed that all segments will exhibit 2x to 3x growth over the next five years. This growth will be driven by the rapid adoption of mobile ticketing, NFC contactless payments, physical goods purchases and money transfers as people in both developed and developing countries use their devices for everyday transactions.
Some 20 countries are expected to launch NFC services in the next 18 months, resulting in transactions approaching $50 billion worldwide by 2014. Meanwhile the need for financial access in developing countries is such that active mobile money users will double by 2013 and drive transaction values accordingly.
Senior analyst David Snow explained: "Our analysis shows that emerging segments such as physical goods payments, NFC and money transfers will fuel market growth by a factor of 2.7 times by 2015. Digital goods is the largest segment and, although forecast to more than double, it is not growing as quickly as some of the newer segments."
Other key messages from the report include:
- The top 3 regions for mobile payments (Far East & China, W. Europe and N. America) will represent 75% of the global mobile payment gross transaction value by 2015.
- Digital goods payments will account for nearly 40% of the market in 2015.
The study provides the big picture of mobile payments, providing forecasts of the main market segments of digital and physical goods purchases, contactless NFC and domestic and international money transfers and remittances, providing regional forecasts of gross transaction values.
A new Mobile Money Whitepaper and further details of the study, 'Mobile Payment Strategies: Opportunities & Markets 2011-2015' can be freely downloaded from www.juniperresearch.com. Alternatively, please contact John Levett at john.levett@juniperresearch.com, telephone +44(0)1256 830001.
Juniper Research provides research and analytical services to the global hi-tech communications sector, providing consultancy, analyst reports and industry commentary.
Seriously? Could m-payments become a US$670bn industry? - Silicon Republic
I have a growing conviction that m-payments stand to be as big a deal for the internet industry in the second decade of the 21st century as advertising was in the first decade.
Google chairman Eric Schmidt recently opined that electronic payments stand to be a US$3trn industry worldwide in the coming years. In recent weeks, Google kicked off its NFC odyssey in New York. At the same time, Samsung and Visa kick started their NFC payments ecosystem for London ahead of the 2012 Olympics.
If you think about payments as a whole think of it in these three ways – online payments, traditional offline payments in shops via cash, and electronic payments via cards in shops.
