Mobile Payment Transactions May Reach $1 Trillion by 2015, Heavy Reading Finds
Mobile payment popularity is growing, allowing for new revenue generation solutions that may generate $1 trillion by 2015, says Heavy Reading Mobile Networks Insider
Mar 8, 2013
BOSTON, March 8, 2013 /PRNewswire/ -- The mobile payment industry is growing, offering revenue generating solutions throughout the market and potentially generation $1 trillion in global transactions by 2015, according to the latest report from Heavy Reading Mobile Networks Insider (www.heavyreading.com/mobile-networks), a subscription research service from Heavy Reading (www.heavyreading.com).
No Idle Chatter: Payments Add Value to Mobile Ecosystem examines the mobile payments market, analyzing the most lucrative verticals in mobile payments, the drivers in the market and challenges the industry faces. It includes a comparative analysis of solutions available, examines the geographic landscape of the market and details trends that will likely occur in the industry over the next 18-24 months.
For a list of companies covered in this report, http://twimgs.com/audiencedevelopment/LRHR/PDFS/mni0213_companies.pdf
"Mobile payments have gone from being a cool-to-talk-about concept to a disruptive technology in a relatively short time frame," says Denise Culver, research analyst with Heavy Reading Mobile Networks Insider and author of the report. "MNOs and payment vendors should be looking at different ways to drive demand for mobile payments, which have the potential to create significant revenue throughout the entire mobile ecosystem."
According to some statistics, the mobile payment industry is forecasted to account for as much as $1 trillion in global transactions by 2015, Culver says. "Consumers, who already are accustomed to paying bills and buying goods online, are driving much of the move toward mobile payments. As the proliferation of mobile phones, smartphones and tablets continues, it's only natural that those same consumers feel the desire to use those devices to make purchases," she continues. "The mobile technology market is quite aware of the movement, with MNOs and vendors creating several exciting technologies and partnerships to further develop mobile payments."
Key findings of No Idle Chatter: Payments Add Value to Mobile Ecosystem include the following:
- Although consumers like mobile payments, retailers will drive demand for mobile payments.
- One of the biggest drivers over the next two years will be enabling mobile payments vendors and providers to enable targeted services to users, which will improve customer service.
- The market is exploding with a complex ecosystem of stakeholders and new entrants comprised of handset manufactures, mobile network providers, retailers and consumers.
- Consolidation of solutions and a more compelling value proposition for merchants and consumers will drive growth in all markets.
- New industry partnerships will take place, in which billing providers, financial institutions and carriers team up to bring new solutions to the market.
No Idle Chatter: Payments Add Value to Mobile Ecosystem is available as part of an annual single-user subscription (six issues) to Heavy Reading Mobile Networks Insider, priced at $1,595. Individual reports are available for $900 (single-user license).
To request a free executive summary of the report, or for details on multi-user licensing options, please contact:
Insider Research Services
Marketing Director, Light Reading Communications Network
About Heavy Reading (www.heavyreading.com)
Heavy Reading is an independent research organization offering deep analysis of emerging telecom trends to network operators, technology suppliers, and investors. Its product portfolio includes in-depth reports that address critical next-generation technology and service issues, market trackers that focus on the telecom industry's most critical technology sectors, exclusive worldwide surveys of network operator decision-makers that identify future purchasing and deployment plans, and a rich array of custom and consulting services that give clients the market intelligence needed to compete successfully in the global telecom industry. As a division of UBM Tech (tech.ubm.com), Heavy Reading contributes to the only integrated business information platform serving the global communications industry.
SOURCE Heavy Reading