NTERNATIONAL. Purchases via mobile devices of digital and physical goods, contactless NFC (Near Field Communications) transactions and money transfers will together generate transactions worth over US$600 billion globally by 2013, according to Juniper Research’s Mobile Payments Study. This figure represents the gross value of all the items being purchased or the value of money being transferred.
The report determined that while the mobile market today is dominated by digital goods purchases such as ringtones, music, games and infotainment, there are three high potential markets which offer major new opportunities for the future: contactless NFC, mobile money transfer and physical goods purchases via mobile devices.
Report author Howard Wilcox commented: "We’re forecasting that all segments of the market will see growth over the next five years, driven by both the rapid availability of exciting, easy to use services, and the continued growth in mobile subscriber penetration, particularly in developing countries. As well as becoming multifunctional devices for many users, mobiles will become wallets that people won’t leave the home or office without.”
Highlights from the report include:
• Global annual gross transaction value will grow over ten times between 2008 and 2013
• Juniper Research’s 2008 forecasts show an increased growth rate of the global mobile subscriber base than previously, with in excess of 1 billion new users by 2013
• The top three regions for mobile payments (Far East & China, Western Europe and North America) will represent over 70% of the global mobile money transfer gross transaction value by 2013.
The study provides the 'big picture' view of mobile payments, exploring how the overall market will develop. The report provides forecasts of the main market segments (digital and physical goods purchases, contactless NFC and national and international money transfers and remittances), providing regional forecasts of gross transaction values. The report also offers profiles of 13 vendors and 17 service providers pioneering in this exciting market.
Whitepapers and further details of the study 'Mobile Payments Markets: Strategies & Forecasts 2008-2013' can be freely downloaded from www.juniperresearch.com
Further reports in the mobile payments series from Juniper are:
· Mobile Payment Markets: Digital and Physical Goods 2008-2013 (published in July 2008)
· Mobile Payment Markets: Contactless NFC 2008-2013 (published in July 2008)
· Mobile Payment Markets: Money Transfers and Remittances 2008-2013 (published in August 2008)