The industry research report outlines the market forecast and segmentation of the global IT spending by mobile payment service providers market by hardware, software, and services until 2019. This research report presents market shares for APAC, Americas, and EMEA. It also includes a detailed analysis of the leading vendors such as Amazon Payments, IBM, HP, and Oracle.
Technavio’s market research analysts estimate the global IT spending by mobile payment service providers to grow at a CAGR of around 12% between 2015 and 2019. Growing m-commerce market, increasing usage of mobile devices, and value-added services at affordable prices are boosting IT expenses in the mobile payment market. The EMEA dominates the global market, by occupying around 39% of the total market share. Much of the region’s growth comes from increased use of smartphones and value-added services.
The new market research report from Technavio provides a breakdown and analysis of the IT spending by mobile payment service providers segments by technology.
“The mobile payment service providers are increasingly spending on analytical services such as big data analytical tools to examine the consumer data through target marketing. Enterprises are providing targeted offers such as coupons and rewards to consumers according to their interest and preferences. These service providers are purchasing the monitoring and analytical tools to observe consumers’ conversations and act on their sentiments. Various mobile payment service providers such as PayPal, MasterCard, Amazon Payments, and Google Wallet are increasingly investing in IT to enhance their technological capabilities,” says Navin Rajendra, Lead Analyst, ICT, Technavio Research.
The software segment accounts for the largest share in the IT spending market for mobile payment services. The software-based apps are integrated with the retailer’s platform to enhance customers’ shopping experience. There is increasing demand for analytics-based software, which helps mobile payment service providers to track and monitor their customers’ data, which helps them to provide customized and targeted offers. The key vendors in the global IT spending by mobile payment service providers include Amazon Payments, IBM, HP, and Oracle. The market is witnessing an increasing trend of cross-pollination across financial and technology companies. The competition will intensify during the forecast period as many start-ups and large firms are expected to enter the market.
A more detailed analysis is available in the Technavio report, Global IT Spending by Mobile Payment Service Providers 2015-2019.
We can customize reports by other regions and specific segments upon request.
Other Related Reports:
- Global Mobile Payment Market 2015-2019
- Mobile Payment Market in China 2014-2018
- Global Banking and Payment Smart Cards Market 2015-2019
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