Category: Featured News

TrendForce predicts surge of the global mobile payments market through 2019

The global mobile payments market is expected to surge this year. TrendForce, an analyst firm based in Taiwan, has released a new report that predicts the strong growth that the market will experience, with growth expected to pick up momentum through 2019. According to the report, the number of mobile payments being made is expected to reach $620 billion by the end of this year, up from the $450 billion that was recorded in 2015.

Companies look to find a place in China’s mobile commerce market

TrendForce believes that Apple Pay, Samsung Pay, and similar services from large companies will become more popular throughout the world. The growth of the mobile payments market is expected to be secured in China, where companies are fighting for the favor of those interested in mobile commerce. China is considered the world’s largest and fastest growing mobile payments market, with several companies specializing in digital commerce having found major success by engaging the growing number of mobile consumers.

Alibaba and Tencent ensure that consumers are involved in the mobile commerce space

Massive companies like Alibaba and Tencent have established a powerful foothold in the mobile payments market. These companies have ensured that it will be difficult for other companies to compete in China. These companies have also succeeded in making mobile payments more secure, which has created a great deal of confidence among consumers and ensuring that they will participate in the mobile commerce space.

Biometric technology will make the mobile payments space more secure

According to the report from TrendForce, the global mobile payments market will hit $930 billion by 2018 and $1.08 trillion by the end of 2019. By that time, mobile transactions are likely to be protected by biometric technology. TrendForce expects that more than 40% of smartphones throughout the world will be equipped with fingerprint scanners, which will be used to protect consumer information when they are making a mobile transaction. This degree of security is likely to encourage more consumers to make mobile payments in the coming years.

About Phone-based Authentication

The phone-factor is the second layer of two-factor or multi-factor authentication. Phone-based authentication is enabled through an end-user’s cell phone or smartphone and provides an advanced level of authentication. The authentication process is done using passcodes, text messages, or phone calls. It is mainly used by banks and payment gateways to ensure confidentiality and to verify the authenticity of the user during monetary transactions. It is also being adopted by other sectors such as healthcare. It is a cost-effective method compared to hardware tokens for securing information.

Global Phone-based Authentication Market 2016 report has Forecasted Compound Annual Growth Rate (CAGR) in 49.33% value for particular period, that will help user to take decision based on futuristic chart. Report also includes key players in global Phone-based Authentication market.

With advances in technology, several mobile network operators (MNOs) have introduced 2G, 3G, and 4G network services. This helps them improve their efficiency in sending OTP to customers for their online transactions and mobile banking. Thus, MNOs play an important role in the growth of the global phone-based authentication market.

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Covered in this Report

This report covers the present scenario and the growth prospects of the global phone-based authentication market for the period 2015-2019. To calculate the market size, the report considers the revenue generated from the sales of the phone-based authentication solutions.

The market is segmented on the basis of the following:
• Geography: Americas, EMEA, and APAC
• End-users: BFSI, PCI, government organizations, and others sectors

Global Phone-based Authentication Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.

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The market report, titled Phone-based Authentication Market 2016, is an analytical research done by QY Market Research study based on the Phone-based Authentication market, which analyzes the competitive framework of the Phone-based Authentication industry worldwide. This report “Worldwide Phone-based Authentication Market 2016” build by the usage of efficient methodical tools such SWOT analysis, the Phone-based Authentication industrial 2016 study offers a comprehensive evaluation worldwide Phone-based Authentication market.

The Phone-based Authentication market size is estimated in terms of revenue (US$) and production volume in this report. Whereas the Phone-based Authentication market key segments and the geographical distribution across the globe is also deeply analyzed. Various Phone-based Authentication market dynamics such as growth drivers, restrictions, and the future prospects of each segment have been discussed in detail. Based on that, the Phone-based Authentication market report determines the future status of the market globally.

Key Regions

• Americas
• APAC
• EMEA

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Key Vendors

• CA Technologies
• EMC
• Gemalto
• Microsoft
• Symantec
• Technology Nexus
• VASCO

Other Prominent Vendors

• Deepnet Security
• Duo Security
• SecurEnvoy
• SMS Passcode
• Swivel Secure
• TeleSign
• Trustwave

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