Press release
India Mobile Payment Market Segments, Industry Trends, Size, Share, Outlook Report 2023-2028
According to IMARC Group latest report titled "India Mobile Payment Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", offers a comprehensive analysis of the industry, which comprises insights on India Mobile Payment market. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The India mobile payment market size reached US$ 510.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2,063.8 Billion by 2028, exhibiting a growth rate (CAGR) of 26.59% during 2023-2028.
A mobile payment is a financial transaction facilitated through a mobile device, eliminating the need for cash or physical credit cards. It utilizes digital technologies, such as Near Field Communication (NFC), Quick Response (QR) codes, and mobile applications to execute seamless transactions. These payments can be broadly categorized into two types: proximity payments, where the transaction occurs in a physical location through NFC or Bluetooth, and remote payments, conducted over the Internet. The payment process is fast and secure due to encryption and tokenization technologies. This method of payment offers several advantages, including convenience, the ability to track expenses, and promotional benefits, including discounts and cashback offers. Increasingly adopted in a variety of settings such as retail, transportation, and utilities, mobile payments are becoming an integral part of today's digital age, reshaping the way consumers and businesses interact financially.
Get a Sample Copy of this Report: https://www.imarcgroup.com/india-mobile-payment-market/requestsample
Market Trends:
The India mobile payment market is majorly driven by technological advancements and shifts in consumer behavior. Along with this, the penetration of smartphones and internet connectivity across the country, providing the essential infrastructure for mobile payments, is impacting the market. In addition, government initiatives and the promotion of a cashless economy are providing a boost to the adoption of mobile payment methods. Moreover, the pandemic is accelerating the shift towards digital payments, with hygiene concerns making contactless transactions more appealing. The market is also witnessing a rise in fintech startups focusing on innovative payment solutions, contributing to a more competitive landscape. Apart from these, the growing middle-class population with increasing disposable income is becoming more open to embracing this convenient method of payment. Furthermore, the advent of advanced features such as biometric verification and one-click payments are enhancing user experience and security, further creating a positive market outlook.
Explore Full Report with Table of Contents: https://www.imarcgroup.com/india-mobile-payment-market
India Mobile Payment Market Segmentation:
Our report has categorized the market based on region, mode of transaction and application.
Breakup by Mode of Transaction:
• WAP
• NFC
• SMS
• USSD
• Others
Breakup by Application:
• Entertainment
• Energy and Utilities
• Healthcare
• Retail
• Hospitality and Transportation
• Others
Breakup by Region:
• North India
• West and Central India
• South India
• East India
Key highlights of the report:
• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
Contact US:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe:- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
The India mobile payment market size reached US$ 510.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2,063.8 Billion by 2028, exhibiting a growth rate (CAGR) of 26.59% during 2023-2028.
A mobile payment is a financial transaction facilitated through a mobile device, eliminating the need for cash or physical credit cards. It utilizes digital technologies, such as Near Field Communication (NFC), Quick Response (QR) codes, and mobile applications to execute seamless transactions. These payments can be broadly categorized into two types: proximity payments, where the transaction occurs in a physical location through NFC or Bluetooth, and remote payments, conducted over the Internet. The payment process is fast and secure due to encryption and tokenization technologies. This method of payment offers several advantages, including convenience, the ability to track expenses, and promotional benefits, including discounts and cashback offers. Increasingly adopted in a variety of settings such as retail, transportation, and utilities, mobile payments are becoming an integral part of today's digital age, reshaping the way consumers and businesses interact financially.
Get a Sample Copy of this Report: https://www.imarcgroup.com/india-mobile-payment-market/requestsample
Market Trends:
The India mobile payment market is majorly driven by technological advancements and shifts in consumer behavior. Along with this, the penetration of smartphones and internet connectivity across the country, providing the essential infrastructure for mobile payments, is impacting the market. In addition, government initiatives and the promotion of a cashless economy are providing a boost to the adoption of mobile payment methods. Moreover, the pandemic is accelerating the shift towards digital payments, with hygiene concerns making contactless transactions more appealing. The market is also witnessing a rise in fintech startups focusing on innovative payment solutions, contributing to a more competitive landscape. Apart from these, the growing middle-class population with increasing disposable income is becoming more open to embracing this convenient method of payment. Furthermore, the advent of advanced features such as biometric verification and one-click payments are enhancing user experience and security, further creating a positive market outlook.
Explore Full Report with Table of Contents: https://www.imarcgroup.com/india-mobile-payment-market
India Mobile Payment Market Segmentation:
Our report has categorized the market based on region, mode of transaction and application.
Breakup by Mode of Transaction:
• WAP
• NFC
• SMS
• USSD
• Others
Breakup by Application:
• Entertainment
• Energy and Utilities
• Healthcare
• Retail
• Hospitality and Transportation
• Others
Breakup by Region:
• North India
• West and Central India
• South India
• East India
Key highlights of the report:
• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
Contact US:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe:- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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