The Europe mobile payment market size reached US$ 422.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,477.7 Billion by 2028, exhibiting a growth rate (CAGR) of 22.9% during 2023-2028.
Also known as e-payment, mobile payment is conducted using a smartphone, internet facility and payment instruments, such as a bank account, debit or credit card, gift cards and mobile wallet. It is facilitated by the availability of point-of-sale (POS) terminals that process transactions using nearfield communications. It is secure, convenient and easy-to-use as compared to its conventional counterparts. At present, significant utilization of the internet and the increasing number of tech-savvy consumers are fueling the demand for mobile payment services in Europe.
The thriving e-commerce sector represents one of the key factors bolstering the growth of the mobile payment market in Europe. Moreover, small and medium-sized enterprises (SMEs) are increasingly offering mobile payment solutions to track consumer buying behavior, which, in turn, is strengthening the market growth. Apart from this, market players are using tokenization in combination with biometric identification features to provide a more secure experience. Furthermore, the utilization of mobile payment is rising on account of the coronavirus disease (COVID-19) outbreak and the escalating demand for contactless payment methods.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the Europe mobile payment market report, along with forecasts at the regional and country level from 2023-2028. Our report has categorized the market based on mode of transaction and application.
Breakup by Mode of Transaction:
Breakup by Application:
- Energy and Utilities
- Hospitality and Transportation
Breakup by Country:
- United Kingdom
The competitive landscape of the industry has also been examined along with the profiles of the key players.
|Base Year of the Analysis
||Mode of Transaction, Application, Country
||Germany, France, United Kingdom, Italy, Spain, Others
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Key Questions Answered in This Report:
- How has the Europe mobile payment market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the Europe mobile payment market?
- What are the key regional markets?
- What is the breakup of the market based on the mode of transaction?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the Europe mobile payment market and who are the key players?
- What is the degree of competition in the industry?