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Global IT Spending Market by Mobile Payment Service Providers to Grow at a CAGR of 12.26% by 2019

Data security is a key concern among mobile payment service providers. These providers gather personal data to customize advertisements.
MarketsandMarkets™ | 22.02.2016

Global IT Spending Market by Mobile Payment Service Providers 2015-2019 Size and Share Published in 2015-11-11 Available for US$ 2500 at Researchmoz.us

Description

About IT spending by mobile payment service provider


Proliferation of mobile devices has created a market for mobile payments. Mobile payments are transactions that can be carried out using mobile devices such as smartphones. Mobile payments are a revolutionary trend in the digital payments industry and use technology such as NFC for touchless payments. They enable online purchases and payment of bills. The growth of the global mobile payment market has been stimulated by an ever growing m-commerce market and adoption of smartphones, along with the availability of value-added services at affordable costs.

Mobile payment service providers such as PayPal, Mastercard, AmazonPay, and Google Wallet are increasingly investing in IT to enhance their technological capabilities, ensure operational efficiency, and keep pace with a growing customer base. Mobile payment service providers are also acquiring IT players and building in-house capabilities. They are also collaborating with IT players, such as IBM and Oracle, to better understand their customers needs and offer customized services using analytics and BI tools.

Data security is a key concern among mobile payment service providers. These providers gather personal data to customize advertisements and reach the target audience.

They track cookies to gather information. Indiscriminate use of this data can lead to infringement of customers privacy. It also leads to concerns about the security of customers financial information. However, mobile payment service providers are trying to enhance security of data, and to some extent have changed consumer perception about security of their personal information. Technavio expects substantial spending on mobile payment solutions from the banking sector. The banking sector is investing in several initiatives including digital banking and digital transformation, mobile banking and payments, security solutions, and analytical solutions.

Technavio's analysts forecast the global IT spending market by mobile payment service providers to grow at a CAGR of 12.26% over the period 2014-2019.

Covered in this report

This report covers the present scenario and growth prospects of the global IT spending market by mobile payment service providers for the period 2015-2019. To calculate the market size, the report considers revenue generated through sales of hardware, software, and services.

The report presents the vendor landscape and a corresponding detailed analysis of the leading vendors in the global IT spending market by mobile payment service providers. In addition, it discusses the major drivers that influence the growth of the market. It also outlines the challenges faced by vendors and the market at large, as well as the key trends emerging in the market.

Download Sample of this Report at: http://www.researchmoz.us/enquiry.php?type=S&repid=459151


Technavio's report, Global IT Spending Market by Mobile Payment Service Providers 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers APAC, the Americas, and EMEA. It also covers the landscape of the global IT spending market by mobile payment service providers and its growth prospects in the coming years. The report also includes a discussion on the key vendors operating in this market.

Key regions

Americas

APAC

EMEA

Key vendors

Amazon Payments

HP

IBM

MasterCard

Oracle

PayPal

SAP

Other prominent vendors

Accenture

Apple Pay

AT&T

CSC

Fujitsu

Google Pay

Infosys

Samsung

SAP

Square

TCS

Verizon

Wipro

Market driver

Rise in technological advancements

For a full, detailed list, view our report

Market challenge

Concerns regarding security and privacy of data

For a full, detailed list, view our report

Market trend

Emergence of cloud-based mobile payment solutions

For a full, detailed list, view our report

Key questions answered in this report

What will the market size be in 2019 and what will the growth rate be?

What are the key market trends?

What is driving this market?

What are the challenges to market growth?

Who are the key vendors in this market space?

What are the market opportunities and threats faced by the key vendors?

What are the strengths and weaknesses of the key vendors?

Make an Enquiry: http://www.researchmoz.us/enquiry.php?type=E&repid=459151

Table of Content


PART 01: Executive summary

Highlights

PART 02: Scope of the report

Market overview

Base year

Offerings of the top vendors

PART 03: Market research methodology

Research methodology

Economic indicators

PART 04: Introduction

Key market highlights

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