Global Mobile Money
Market Report
2024
The global Mobile Money Market size is USD 6.9 billion in 2024. The Mobile Money Market will show strongest growth with a compound annual growth rate (CAGR) of 22.7% from 2024 to 2031. This growth can be attributed to increasing dependence on automated technology.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, the global Mobile Money Market size is USD 6.9 billion in 2024 and will expand at a compound annual growth rate (CAGR) of 22.7% from 2024 to 2031.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Mobile Money Market Sales Revenue 2024 | $ 6.9 Billion |
Global Mobile Money Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 22.7% |
Market Split by Transaction Mode |
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Market Split by Nature of Payment |
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Market Split by Application |
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Market Split by Payments |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Report scope is customizable as we have a huge database of Mobile Money industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
Mobile Money Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Mobile money refers to financial services offered through mobile phones, enabling users to perform transactions such as deposits, withdrawals, transfers, and payments without the need for a traditional bank account. This service leverages mobile technology to provide financial inclusion, particularly in regions with limited access to banking infrastructure. The mobile money market has experienced significant growth due to the increasing penetration of smartphones, expanding internet connectivity, and the rising demand for convenient, secure, and accessible financial services. The adoption of mobile money is driven by factors such as the proliferation of mobile networks, supportive regulatory frameworks, and the growing preference for cashless transactions. Emerging markets, particularly in Africa and Asia, have witnessed the most substantial growth in mobile money usage.
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On January 16, 2024, Hitachi Payment Services, India's premier provider of payments and commerce solutions, announced the launch of its financial inclusion business. This strategic initiative aims to transform access to financial services for the underbanked and unbanked populations. By adding this crucial service to its existing portfolio, the company seeks to further promote inclusive growth. (Source:https://www.hitachi-payments.com/wp-content/uploads/2024/01/Hitachi-Payment-Services-launches-its-new-financial-inclusion-initiative-under-the-brand-Hitachi-Money-Spot-Plus.pdf)
Top Companies Market Share in Mobile Money Industry: (In no particular order of Rank)
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According to Cognitive Market Research, In 2024, the Asia-Pacific (APAC) region is the dominant force in the mobile money market. This dominance is driven by the region's large population, widespread smartphone adoption, and a robust digital infrastructure. Countries like China, India, and Japan lead in mobile payment adoption due to strong government support, innovative fintech ecosystems, and a growing preference for digital transactions over cash. APAC's vibrant e-commerce market also fuels mobile money usage, particularly for online purchases, bill payments, and money transfers. The region's emphasis on financial inclusion and the expansion of mobile banking services to underserved populations further bolsters its leading position in the global mobile money landscape.
The Africa region is expanding at the fastest Compound Annual Growth Rate (CAGR) in the mobile money market. This rapid growth is propelled by the widespread adoption of mobile money services in countries like Kenya, Nigeria, and Ghana, where traditional banking infrastructure is limited. Mobile money platforms provide critical financial services, including money transfers, bill payments, and microloans, to a largely unbanked population. The success of pioneering services like M-Pesa in Kenya has spurred growth across the continent, leading to increased investment in mobile money infrastructure and innovation. Africa's unique market dynamics and the necessity for financial inclusion drive its remarkable CAGR in the mobile money market.
The current report Scope analyzes Mobile Money Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
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Global Mobile Money Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Mobile Money Industry growth. Mobile Money market has been segmented with the help of its Transaction Mode, Nature of Payment Application, and others. Mobile Money market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
Based on present and future trends, the market size is estimated from 2019 to 2031. Moreover, study also provides quantitative and qualitative analysis of each type to understand the driving factors for the fastest growing type segment for Mobile Money market.
Transaction Mode of Mobile Money analyzed in this report are as follows:
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Mobile Money Industry. Request a Free Sample PDF!
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities for each application of Mobile Money from 2019 to 2031. This will also help to analyze the demand for Mobile Money across different end-use industries. Our research team will also help acquire additional data such as Value Chain, Patent analysis, Company Evaluation Quadrant (Matrix), and much more confidential analysis and data insights.
Some of the key Nature of Payment of Mobile Money are:
The above Graph is for representation purposes only. This chart does not depict actual Market share.
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According to cognitive market research, Money transfers dominate the mobile money market due to their fundamental role in financial inclusion, particularly in regions with limited access to traditional banking. This application facilitates quick, secure, and convenient transactions, enabling users to send and receive money domestically and internationally. The proliferation of mobile devices and increased internet penetration have further propelled the adoption of mobile money transfers. Additionally, the ease of use, reduced transaction costs, and enhanced security measures have made mobile money transfers a preferred method for remittances, peer-to-peer payments, and business transactions, significantly contributing to the growth of the mobile money market.
Senior Research Analyst at Cognitive Market Research
Catering to tailored needs of clients in Consulting, Business Intelligence, Market Research, Forecasting, Matrix-Modeling, Data Analytics, Competitive Intelligence, Primary research and Consumer Insights.
Catering to tailored needs of clients in Consulting, Business Intelligence, Market Research, Forecasting, Matrix-Modelling, Data Analytics, Competitive Intelligence, Primary research and Consumer Insights. Experience in analyzing current trends, market demand, market assessment, growth indicators, competitors' strategy, etc. to help top management & investors to make strategic and tactical decisions in the form of market reports and presentations. Successfully delivered more than 500+ client & consulting assignments across verticals. Ability to work independently as well as with a team with confidence and ease.
I am committed to continuous learning and staying at the forefront of emerging trends in research and analytics. Regularly engaging in professional development opportunities, including workshops and conferences, keeps my skill set sharp and up-to-date. I spearheaded research initiatives focused on market trends and competitive landscapes. I have a proven track record of conducting thorough analyses, distilling key insights, and presenting findings in a way that resonates with diverse stakeholders. Through collaboration with cross-functional teams, I played a pivotal role in shaping business strategies rooted in robust research.
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The Global Mobile Money Market is witnessing significant growth in the near future.
In 2023, the Point of Sale (PoS) segment accounted for noticeable share of global Mobile Money Market and is projected to experience significant growth in the near future.
The Person to Person (P2P) segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Vodafone (UK) , Orange (France) and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Transaction Mode | Point of Sale (PoS), Mobile Apps, QR codes |
Nature of Payment | Person to Person (P2P), Person to Business (P2B), Business to Person (B2P), Business to Business (B2B) |
Application | Money transfers, Bill Payments, Airtime Transfer and Top-Ups, Travel and Ticketing, Merchandise and Coupons |
Payments | Remote Payments, Proximity Payments |
List of Competitors | Vodafone (UK), Google (US), Orange (France), FIS (US), Paypal (US), Mastercard (US), Fiserve (US), Airtel (India), Gemalto (Netherlands), Alipay (China), MTN (South Africa), PAYTM (India), Samsung (South Korea), VISA (US), Tencent (China), Global Payments (US), Square (US), Amazon (US), Apple (US), Western Union Holdings (US), Comviva (India), T- Mobile (US) |
This chapter will help you gain GLOBAL Market Analysis of Mobile Money. Further deep in this chapter, you will be able to review Global Mobile Money Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
Chapter 3 Europe Market Analysis
Chapter 4 Asia Pacific Market Analysis
Chapter 5 South America Market Analysis
Chapter 6 Middle East and Africa Market Analysis
Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Transaction Mode Analysis 2019 -2031, will provide market size split by Transaction Mode. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Transaction Mode Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Nature of Payment Analysis 2019 -2031
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Chapter 12 Market Split by Application Analysis 2019 -2031
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Chapter 13 Market Split by Payments Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Mobile Money market
Chapter 14 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Point of Sale (PoS) have a significant impact on Mobile Money market? |
What are the key factors affecting the Point of Sale (PoS) and Mobile Apps of Mobile Money Market? |
What is the CAGR/Growth Rate of Person to Person (P2P) during the forecast period? |
By type, which segment accounted for largest share of the global Mobile Money Market? |
Which region is expected to dominate the global Mobile Money Market within the forecast period? |
Segmentation Level Customization |
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Global level Data Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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Service Level Customization |
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Report Format Alteration |
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