Published Date : Aug 16, 2016
ALBANY, NY, Aug 16, 2016: MarketResearchReports.biz has announced the addition of a new market intelligence report to its vast collection of research studies. The 54-page research study, titled “Global Mobile Payment Security Software Market 2016-2020,” provides an in-depth reports, emphasizing on the key dynamics of the market that are estimated to influence the overall market in a positive as well as negative manner in the coming years. Historical information and forecast statistics have been included in the research study to offer a clear understanding of the overall market. As per the research study, the global market for mobile payment security software is expected to register an impressive 23.70% CAGR between 2016 and 2020.
The increasing number of online transactions, rising coverage of wireless networks, and growing compliance requirements are some of the primary factors expected to augment the growth of the global mobile payment security software market in the forecast period. The sophisticated and advanced cyber-threats are encouraging the use of the security software across the globe. In addition, the emergence of NFC-based payments, increased implementation of multimodal biometrics, and development of multi-factor authentication have created potential opportunities for the key players in the market.
On the other hand, the absence of robust telecom infrastructure in emerging nations and lack of awareness regarding mobile payment security software among consumers are estimated to curtail the growth of the overall market in the next few years. Nevertheless, the introduction of biometrics is projected to boost the demand for mobile payment security software in the coming few years.
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As per the research study, the mobile payment security software market has been classified on the basis of geography into APAC, EMEA, and the Americas. Among these, the Americas are expected to account for a 45% share in the global market by the end of 2020. The rapid growth of this region can be ascribed to the rising penetration rate of smartphones and the rising adoption of mobile payment solutions in the U.S. In addition, the increasing awareness regarding the use of digital wallets for several e-commerce transactions is anticipated to contribute extensively towards the development of this market in the Americas.
The mobile payment security software market across the globe is extremely fragmented due to the presence of several small as well as large market players. The leading players in the market are competing in terms of quality, price, innovation, reputation, distribution, service, and promotion to attain a dominant share in the market in the near future. The research study has focused on the profiles of the key players, including the financial overview, product portfolio, and recent developments in the market.
The leading players in the global market for mobile payment security software include VASCO, Gemalto, Google, CA Technologies, and Apple. Some of the other key players included in the study are HP Enterprise, Intel, UL, MagTek, Vantiv, and Chase Paymentech Solutions. The key policies and strategies adopted by the leading players have been discussed in the research report to help the entrants in formulating their business policies effectively.
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