Transparency Market Research Reports incorporated a definite business overview and investigation inclines on "Mobile Money Market". This report likewise incorporates more illumination about fundamental review of the business including definitions, requisitions and worldwide business sector industry structure.
The mobile phone industry has witnessed exponential growth over the last decade. Development in the electronics and telecommunications sector has spawned a variety of advanced technologies, operating system and value added features to cell phones. Advent of 2G, 3G and 4G technologies has resulted in increasing Internet usage, giving rise to mobile money/payment. It has not only created business opportunities for mobile manufacturers but also for telecommunication service providers, mobile application developers and other stakeholders. Increasing penetration of mobile phones and Internet usage for various purposes such as shopping, purchasing movie tickets, and bill payments is expected to drive the market. In addition, affordable rates and ease of access are expected to positively impact the industry over the forecast period. Delivering cost effective and fully functional payments services for mobile users is a challenge for service providers.
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North America and Europe have been occupying majority of the market share, and are expected to drive the industry with an expected annual growth rate of over 70%. Countries in the BRIC region such as China and India, where the IT and electronics industries are developing at a rapid rate are expected to gain market share over the next few years.
Some of the major players in this market include Google, PayPal, Sybase, Utiba, Vesta, Xius, Yellow Pepper, Gemalto, Comviva, Luup, and Obopay among others.
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