IT Spending Market by Mobile Payment Service, Industry - Global Market 2016 Growth, Shares, Challenges, Research, Global Trend, Forecast-2017
"Global
IT Spending Market by Mobile Payment Service Providers 2015-2019"
The Report covers current Market Trends, Analysis, Forecast, Review,
Share, Size, Growth, Effect.
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.
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