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Report: Mobile payment users to number 1 billion by 2014

Wednesday, July 21, 2010

IE Market Research Corporation has announced the release of its new report, 3Q.2010 Global Mobile Payment Market Forecast, 2010 - 2014.

The report predicts that in 2010 alone, mobile payment users will exceed 500 million. This number is set to grow at a compound annual growth rate of of 20.5% to reach over 1 billion users in 2014, representing $1 trillion in transactions.

The report, based on IEMR’s Global Consumer Telecommunications Survey, covers annual forecasts of mobile payment users, a breakdown of mobile payment transactions by technology (such as NFC, SMS, WAP, USSD), and mobile payment transactions by type of purchase (such as merchandise, digital products, ticketing, mobile money transfers, bill payments, and pre-paid top-ups).

“We are forecasting that mobile payment transactions will increase at a CAGR of 94.8% globally. This makes mobile payments perhaps the fastest growing vertical in the wireless value chain,” comments Nizar Assanie, Research VP at IEMR. “Our channel checks with service providers together with our consumer-level demand surveys suggest that digital purchases (CAGR of 120.3%) and ticketing (CAGR of 138.3%) will continue to lead the growth in transaction values globally.”

The report also features a PowerPoint presentation and a half-hour audio conference with IEMR’s Independent Contributing Analyst Menekse Gencer, covering key trends in the global mobile payment market.

Click here to purchase the report. [end] 

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