Press Release: Mobile Payment Transaction Values for Digital and Physical Goods to Exceed $300bn Globally Within 5 Years, According to Juniper Research
Hampshire, UK – 1st July 2008: A new analysis of the mobile payments opportunity forecasts that the gross transaction value of payments made via mobile phone for digital goods (such as music, tickets and games) and physical goods (typically gifts and books) will exceed $300bn globally by 2013.*
A region by region analysis by Juniper Research found that there is a significant and immediate opportunity for mobile payment services, systems, software and supporting services to underpin the processing of this value of payment transactions by 2013.
With applications and service case studies, the study explores how the mobile phone is developing into a payment tool that will be used by more and more people, more and more often in future.
Report author Howard Wilcox noted: "Merchants in North America and Western Europe are just starting to realise the potential of a mobile web presence as a fourth channel to market. Retailers should be evaluating the benefits of the mobile web, and be mindful of the success of regular ecommerce sites in generating sales. They need to move quickly to exploit the opportunity presented, and ensure that they maintain ease of use for their customers who are already familiar with web shopping from their PCs."
Highlights from the report include:
• Global annual gross transaction value will grow over 5 times by 2013
• The ticketing segment will be driven by consumer usage on rail, air and bus networks as well as sports and entertainment events This will represent over 40% of the global transaction value by 2013
• The top 2 regions (Far East and W. Europe) will represent over 60% of the $300bn p.a. global mobile payment gross transaction value by 2013 for digital and physical goods
Western Europe is currently dominated by digital goods and services sold via SMS, whereas the Far East & China region (specifically Japan) is already well established in physical goods sales over the mobile web, and has been for a number of years.
The report provides six year regional forecasts of mobile payments for digital & physical goods, providing data on subscriber take-up, transaction sizes and volumes as well as detailed case studies from companies pioneering in this market. Juniper Research interviewed 37 senior executives across a wide range of vendors and operators.
Whitepapers and further details of the study, 'Mobile Payment Markets: Digital & Physical Goods 2008 – 2013' can be freely downloaded from www.juniperresearch.com. Alternatively please contact John Levett at firstname.lastname@example.org, telephone +44(0)1256 830002.
Juniper Research provides research and analytical services to the global hi-tech communications sector, providing consultancy, analyst reports and industry commentary.
• Juniper Research has validated its mobile payments forecast against independent estimates of global personal consumption spend ($21 trillion in 2007): these estimates mean that Juniper Research's mobile payments forecast will represent around 1% of this spend by 2013.
• Juniper Research has now included several market segments which were not previously included such as mobile ticketing, user-generated content, mobile TV, and physical goods bought via the mobile web.
• The values in the report relate to gross transaction values, and so include the value of the item being purchased by mobile such as a ticket or a game or consumer electronics.
•In its primary research programme for the new report, Juniper Research determined that the market has developed extremely quickly over the last 12 to 18 months, with many new service announcements.
- Mobile Payment Markets - Digital & Physical Goods 2008 – 2013