Mobile Payment Market to reach USD 6,884.24 billion in terms of Transaction Value Reflecting 28.7% CAGR; Rapid Expansion of E-commerce Businesses to Propel Growth: Fortune Business Insights™
Pune, Jan. 20, 2020 (GLOBE NEWSWIRE) — The global Mobile Payment Market size is projected to reach a transaction value of USD 6,884.24 billion by 2026, thereby exhibiting a CAGR of 28.7% during the forecast period. Whilst, it stood at USD 925.69 billion in 2018. This information is provided in a recently published study by Fortune Business Insights™, titled, “Mobile Payment Market Size, Share & Industry Analysis, By Payment Type (Proximity Payment, Remote Payment), By Industry (Media & Entertainment, Retail, BFSI, Automotive, Medical & Healthcare, Transportation, Consumer Electronics, Others), and Regional Forecast, 2019-2026.” The study further states that the market is likely to gain momentum from the expansion of e-commerce businesses and increasing digitalization of payment services. Also, several companies present in the market are persistently launching value-added services, such as reward cards to encourage consumers to use mobile payment features. It is done because of the rising competition amongst the key players to widen their consumer bases by offering them an enhanced experience. This factor would affect the market positively in the coming years.
What Does This Report Contain?
- In-depth information about the Mobile Payment Market trends, growth drivers, barriers, opportunities, and other related challenges.
- List of all the segments, as well as the niche areas of the market.
- Competitive landscape consisting of new agreements, mergers and acquisitions, contracts, unique product launches, collaborations, and investments.
- Detailed geographical analysis to help entrepreneurs in focusing on the most significant region.
To gain more insights into the market with detailed table of content and figures, click here: https://www.fortunebusinessinsights.com/industry-reports/mobile-payment-technology-market-100336
Usage of AI to Identify Consumer Purchasing Behavior Will Fuel Growth
Nowadays, key companies can analyze consumer preferences through mobile payment transactions. Additionally, artificial intelligence (AI) is being rapidly used by these companies to help them in processing the data and identifying the patterns. AI utilizes this data to recognize the buying behavior of the consumers. It allows businesses to plan their future business strategies appropriately. Besides, daily interaction with consumers can be easily done with the help of AI-enabled tools, such as chatbots. These chatbots can construct and enforce transaction processes as per the users’ requirements. As technological advancement upsurges, there is a rise in the number of fraudulent online activities. AI helps in detecting such acts through persistent scanning. These factors would accelerate the Mobile Payment Market growth in the coming years.
Asia Pacific to Remain in the Forefront Backed by Rising Adoption of Smartphones
In terms of region, the market is fragmented into Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa. Out of these, Asia Pacific (APAC) had generated a transaction value of USD 445.17 billion from mobile payments in 2018 and is expected to sustain its dominant position during the forthcoming period. This growth is attributable to the rising adoption of smartphones in emerging countries, such as China, India, and Japan. Among these emerging countries, India is set to experience a high growth of the market owing to the rising adoption of mobile payment since demonetization. Apart from that, the launch of new mobile payment solutions, surge in online shopping, and introduction to new e-commerce channels would also impact the market growth in this region positively. The Middle East and Africa are likely to exhibit considerable growth stoked by the rising usage of smartphones and less adoption of credit cards.
Europe and North America are anticipated to hold the next highest market share after APAC. It would occur in North America because of the ongoing technological developments in the U.S. The country also houses one of the best financial systems in the world. Major players in Canada and the U.S. are implementing strategies, such as reward systems and paybacks, to attract more consumers. Europe, on the other hand, is projected to exhibit significant growth owing to the introduction of various state-of-the-art mobile payment solutions by the established companies.
Paytm Unveils ‘All-in-One QR’ While Starbucks Launches Contest for Loyalty Members
The organizations present in the market are constantly striving to launch new products to help the consumers in adopting the latest technologies. Such initiatives would also help them in earning more Mobile Payment Market revenue. Below are two of the most recent industry developments:
- January 2020: Paytm, an e-commerce payment system and financial technology company, based in Noida, launched it’s All-in-One QR’ code for the merchants. The QR code is capable of helping the merchants to accept unlimited payments through Rupay cards, UPI based payment apps, and Paytm Wallet directly in their bank account for a zero percent fee.
- December 2019: Starbucks, an American coffee company and coffeehouse chain, launched a contest named ‘Starbucks for Life,’ offering its rewards loyalty program members an opportunity to win a food item or beverage every day for a month, a year, or even for the rest of their lives. As per the company, such loyalty programs aid the company in marketing directly to consumers and learn more information about them.
List of the most prominent companies operating in the Mobile Payment Market. They are as follows:
- Google Inc.
- Alipay.com Co Ltd.
- Microsoft Corporation
- Boku Inc.
- MasterCard International Inc.
- Visa Inc.
- Amazon.com Inc.
- PayPal Inc.
- American Express Co.
- Other key market players
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Table of Content:
- Definition, By Segment
- Research Approach
- Executive Summary
- Market Dynamics
- Drivers, Restraints and Opportunities
- Emerging Trends
- Key Insights
- Macro and Micro Economic Indicators
- Consolidated SWOT Analysis of Key Players
- Porter’s Five Forces Analysis
- Global Mobile Payment Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Size Estimates and Forecasts
- By Payment Type (Transaction Value)
- Proximity Payment
- Near Field Communication (NFC)
- QR Code Payment
- Remote Payment
- Direct Operator Billing
- Digital Wallet (Mobile Wallet)
- Others (SMS-based, etc.)
- Proximity Payment
- By Industry (Transaction Value)
- Media & Entertainment
- Medical & Healthcare
- Consumer Electronics
- Others (Education, IT & Telecom, etc.)
- By Geography (Transaction Value)
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
- By Payment Type (Transaction Value)
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The Global Autonomous Vessels Market is expected to grow from USD 13,769.50 Million in 2019 to USD 21,784.01 Million by the end of 2025 at a Compound Annual Growth Rate (CAGR) of 7.94%
New York, July 10, 2020 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Autonomous Vessels Market Research Report by Fit, by Type, by Automataion, by Solution, by Users – Global Forecast to 2025 – Cumulative Impact of COVID-19” – https://www.reportlinker.com/p05913503/?utm_source=GNW
On the basis of Fit, the Autonomous Vessels Market is studied across Line Fit and Retrofit.Clare: email@example.com
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CORRECTION – OMNIQ’s Artificial Intelligence-Based Quest Shield™ Solution Selected by the Talmudical Academy of Baltimore
SALT LAKE CITY, July 10, 2020 (GLOBE NEWSWIRE) — In a release issued under the same headline on June 1, 2020 by OMNIQ, Inc. (OTCQB:OMQS), please be advised that the second paragraph as originally issued contained certain inaccuracies, not related to financial results or projections, which have been corrected below.Quest Shield™ security package provides a proactive ground-breaking cloud-based solution for crime prevention on campuses and in schools using automatic Machine Vision detection and identification of vehicles by license plate, make and color via an AI-based identification algorithm
Real-time alert and notification to law enforcement authorities to actively prevent potential tragediesTechnology developed in Israel, previously deployed with success in sensitive security zones in the U.S., Middle East and elsewhereAddressing Covid-19 concerns, students will be equipped with a contactless, readable ID tag verifying pre-screened temperature test clearanceTalmudical Academy in Baltimore has over 1,000 students and is part of the Chofetz Haim educational chain with more than 35 locations in the U.S., Canada and IsraelOMNIQ, Inc. (OTCQB:OMQS) (“OMNIQ” or “the Company”), announces that it has been selected to deploy its Quest Shield™ campus safety solution at the Talmudical Academy of Baltimore in Maryland.The Quest Shield™ security package uses the Company’s AI-based SeeCube™ technology platform, a ground-breaking cloud-based/on-premise security solution for Safe Campus/School applications. The platform provides unique AI-based computer vision technology and software to gather real-time vehicle data, enabling the Quest Shield™ to identify and record images of approaching vehicles including color, make and license plate information. The license plate is then compared against the school’s internal watch list to provide immediate notifications of unauthorized vehicles to security and administrative personnel. In addition to providing a vehicle identification and recognition solution to the Talmudical Academy, the Quest Shield™ comprehensive security platform addresses other security concerns including controlling access to the buildings and visitor management as well as the ability to pre-register guests for school activities. Additionally, as part of COVID-19 mitigation, parents in Maryland will be asked to take and record their child’s temperature each day before they leave for school. Quest Shield™ will automate this process, by providing parents an online form where they may record the temperature. All Talmud Academy students will be equipped with an ID tag that will have a QR code that can be read with a barcode scanner. As students enter campus, faculty equipped with Quest handheld scanners will read the barcode to confirm that the student’s temperature has been taken that day; if the form has not been filled in, faculty will check temperatures before allowing students inside. Shai Lustgarten, CEO of OMNIQ, commented: “It is our privilege to work with the Talmudical Academy to provide our solution to enhance safety at their Baltimore campus. Quest Shield™ is an extension of the homeland security solution we designed for the Israeli authorities to fight terrorism and save lives.”Rabbi Yaacov Cohen, Executive Director, Talmudical Academy of Baltimore, commented: “Concern about campus safety and the safety of our students and faculty drove the Talmudical Academy to seek ways to implement new strategies aimed at preventing crimes and violence that may be committed on the school grounds. The unfortunate reality today is that situations we could never imagine just a few years ago are happening now with increasing regularity. Most security systems that are currently being deployed on other campuses are good at recording events subsequent to crimes being committed. With Quest Shield™, we have an opportunity to alert personnel and Law Enforcement ahead of any sign of violence.”Mr. Lustgarten added: “The Quest Shield™ has been tailored to provide a proactive solution to improve security and safety in schools and on campuses as well as community centers and places of worship in the U.S. that have unfortunately become a target for ruthless attacks. We’re pleased to work with a forward-thinking organization like the Talmudical Academy, it is gratifying that the Academy selected the Quest Shield™ platform to strengthen its security precautions.”“Additionally, many schools and communities are expressing concern around children returning to school in the fall due to COVID-19. With that in mind, Talmudical Academy will also employ the Quest Shield™ to provide an automated screening process to confirm that students have had their temperatures checked, per Maryland regulation, upon their arrival on campus and prior to them entering the school facilities.”Mr. Lustgarten concluded, “We are proud to be able to improve student safety in the U.S., as well as in other vulnerable communities. Quest Shield™ has previously been implemented by a pre-K through Grade 12 school in Florida and at a Jewish Community Center in Salt Lake City. We look forward to working closely with the Academy and other institutions to promote the health and safety of students, faculty and support personnel.”About OMNIQ, Corp.
OMNIQ Corp. (OMQS) provides computerized and machine vision image processing solutions that use patented and proprietary AI technology to deliver data collection, real time surveillance and monitoring for supply chain management, homeland security, public safety, traffic & parking management and access control applications. The technology and services provided by the Company help clients move people, assets and data safely and securely through airports, warehouses, schools, national borders, and many other applications and environments.
OMNIQ’s customers include government agencies and leading Fortune 500 companies from several sectors, including manufacturing, retail, distribution, food and beverage, transportation and logistics, healthcare, and oil, gas, and chemicals. Since 2014, annual revenues have grown to more than $50 million from clients in the USA and abroad.
The Company currently addresses several billion-dollar markets, including the Global Safe City market, forecast to grow to $29 billion by 2022, and the Ticketless Safe Parking market, forecast to grow to $5.2 billion by 2023. Information about Forward-Looking Statements
“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.
This release contains “forward-looking statements” that include information relating to future events and future financial and operating performance. The words “anticipate”, “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management’s good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for the Company’s products particularly during the current health crisis, the introduction of new products, the Company’s ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company’s liquidity and financial strength to support its growth, the Company’s ability to manage credit and debt structures from vendors, debt holders and secured lenders, the Company’s ability to successfully integrate its acquisitions, and other information that may be detailed from time-to-time in OMNIQ Corp.’s filings with the United States Securities and Exchange Commission. Examples of such forward looking statements in this release include, among others, statements regarding revenue growth, driving sales, operational and financial initiatives, cost reduction and profitability, and simplification of operations. For a more detailed description of the risk factors and uncertainties affecting OMNIQ Corp., please refer to the Company’s recent Securities and Exchange Commission filings, which are available at http://www.sec.gov. OMNIQ Corp. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by law.Investor Contact:
John Nesbett/Jen Belodeau
IMS Investor Relations
U.S. Dairy Delivers Sustainable Ingredient Solutions + Global Product Inspirations
Arlington, VA, July 10, 2020 (GLOBE NEWSWIRE) — The versatility and functionality of U.S. dairy ingredients will be on display, virtually, at the Institute of Food Technologists (IFT) annual expo, being held next week. At a pre-IFT special access webinar held July 7, the U.S. Dairy Export Council (USDEC)’s leadership shed light on the U.S. dairy industry’s ambitious sustainability goals for 2050, announced upcoming scientific sessions and previewed exciting technical and innovation resources for IFT attendees to learn how U.S. Dairy delivers on consumer demand for global taste adventures, balanced nutrition and sustainable food production.Education around the industry’s sustainability efforts is a key component of USDEC’s virtual IFT presence this year, as it aims to shine a light on the aggressive new environmental stewardship goals set this spring which include becoming carbon neutral or better by 2050 in addition to optimizing water usage and improving water quality. These goals build on a decades-long commitment to producing nutritious dairy foods that can feed a growing global population in the most economically viable and socially responsible way. They align with the United Nations Sustainable Development Goals, specifically those focused on food security, human health and responsible stewardship of natural resources, including animals.“We want to be the source of choice when you think about a partner who can not only help nourish people, but also the planet,” said Krysta Harden, Executive Vice President of Global Environmental Strategy for Dairy Management Inc. and Interim Chief Operating Officer at USDEC, during the webinar. “Collectively passing new and aggressive goals is just one way U.S. Dairy can prove we are a global leader in this area.”Consumers and manufacturers alike might be surprised to learn that of all greenhouse gas emissions in the United States, the dairy industry — from feed production to post-consumer waste — currently contributes only 2%. USDEC developed a short quiz to encourage people to test their sustainability knowledge and learn other fun facts.“Innovation continues despite these challenging times and U.S. Dairy resources and expertise can support successful product development,” said Vikki Nicholson-West, Senior Vice President – Global Ingredient Marketing at USDEC. “We’re thrilled to have Krysta’s talents and sustainability focus on board as our new interim COO, guiding our extensive network of staff and representatives around the world.”USDEC’s virtual IFT presence this year also serves as an opportunity to virtually travel and visually experience foods from around the world through a showcase of globally-inspired, fusion-style menu/product prototype concepts. From drinks to desserts, these examples capitalize on popular trends such as the popularity of Latin American influences. For example, high quality dairy ingredients such as Greek-style yogurt, whey protein, milk permeate, paneer cheese and butter round out a savory empanada that boasts 85g of protein. WPC 34 adds quality protein to a Piña Colada (alcoholic or non-alcoholic), providing extra refreshing permission for indulgence.Beyond learning about U.S. dairy’s sustainability journey and seeing innovative product concepts at USDEC’s virtual IFT booth, there are also a variety of dairy-related online scientific symposia debuting that navigate the evolving processing and nutritional landscape, particularly addressing the important role of sustainable food production and the challenge of providing valuable nutrition to the growing global population. These include:Protein Processing 2.0— Next Gen Scalable Technologies for Advancing the Functionalization and Sustainable Production of Protein IngredientsArtificial Intelligence and Machine Learning – For a Safer, Better, and Sustainable FoodNutrient Profiling – From the Global Landscape to the Evidence BasePlant-based eating patterns vs. plant-based foods – Why distinguishing between the two is vital for industry, research, and consumersTo learn more about how U.S. Dairy is delivering sustainable ingredient solutions and global product inspirations during virtual IFT, visit ThinkUSAdairy.org/IF20. ### About U.S. Dairy Export CouncilThe U.S. Dairy Export Council® (USDEC) is a nonprofit, independent membership organization that represents the global trade interests of U.S. dairy producers, proprietary processors and cooperatives, ingredient suppliers and export traders. USDEC aims to enhance U.S. global competitiveness through programs in market development that build global demand for U.S. dairy products, resolve market access barriers and advance industry trade policy goals. As the world’s largest producer of cow’s milk, the U.S. dairy industry offers a sustainably produced, world-class and ever-expanding portfolio of cheese varieties as well as nutritional and functional dairy ingredients (e.g., skim milk powder, lactose, whey and milk proteins, permeate). USDEC, together with its network of overseas representatives around the world, also works directly with global buyers and end-users to accelerate customer purchasing and innovation success with quality U.S. dairy products and ingredients.Attachment07102020 release photoErica Davis
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