Mobile Payment Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2025-2034
The global mobile payment market was valued at USD 1.25 trillion in 2024 and is projected to grow at a 12.4% CAGR from 2025 to 2034. The expansion of e-commerce has been a significant driver, as secure and convenient payment systems are essential for online platforms. Mobile payments have become a popular choice due to their simplicity and integration with digital wallets, streamlining checkout processes and enhancing the shopping experience.
Smartphone proliferation, paired with high-speed internet and mobile payment applications, has broadened the reach of digital transactions worldwide. This growth is especially notable in emerging economies, where mobile payments provide an accessible alternative to traditional banking systems. Younger, tech-savvy demographics and underserved populations have been quick to adopt these solutions, boosting the market's momentum.
The demand for contactless payment solutions has grown, particularly following the COVID-19 pandemic, as consumers increasingly seek safe and hygienic transaction methods. Technologies like QR codes and Near-Field Communication (NFC) enable fast, touch-free payments, encouraging retailers and service providers to upgrade their systems. This shift toward contactless options has been a critical factor in accelerating market growth.
Mobile apps represent a significant segment of the mobile payment industry, accounting for over 36% of the market in 2024. Their convenience and integration capabilities are expected to push their market share beyond USD 2.1 trillion by 2034. Mobile apps allow users to link various payment methods, providing a unified platform for in-store purchases, online shopping, and peer-to-peer transfers. Features such as transaction history, cashback rewards, and biometric authentication enhance their appeal and ensure secure usage.
Remote payment solutions also play a pivotal role, comprising approximately 60% of the market share in 2024. These systems enable users to conduct transactions without physical proximity, making them ideal for online shopping and cross-border payments. Enhanced security measures, including encryption and two-factor authentication, foster trust and encourage widespread adoption.
The U.S. dominates the mobile payment market, contributing 85% of the revenue in 2024, with projections exceeding USD 856.3 billion by 2034. Factors such as advanced infrastructure, high smartphone penetration, and strong consumer preferences for digital payments have cemented its leading position. Contactless payment systems and a robust e-commerce sector further support the U.S. market’s growth, ensuring its continued influence on global trends.
- Chapter 1 Research Methodology and Scope
- 1.1 Scope and definition
- 1.1.1 Scope
- 1.1.2 Definitions
- 1.2 Research design
- 1.2.1 Data collection techniques
- 1.2.2 Market size estimation
- 1.2.3 Forecasting model
- 1.3 Data sources
- 1.3.1 Secondary
- 1.3.1.1 Paid sources
- 1.3.1.2 Public sources
- 1.3.2.1 Primary
- Chapter 2 Executive Summary
- 2.1 Military embedded systems market, 2023-2032
- 2.2 Business trends
- 2.3 Regional trends
- 2.4 Platform type trends
- 2.5 Component trends
- 2.6 Application trends
- Chapter 3 Military Embedded Systems Industry Insights
- 3.1 Military embedded systems industry ecosystem analysis
- 3.1.1 Hardware providers
- 3.1.2 Software and technology providers
- 3.1.3 Embedded system providers
- 3.1.4 System integrators
- 3.1.5 End users
- 3.2 Vendor matrix
- 3.3 Profit margin analysis
- 3.4 Technology and innovation landscape
- 3.4.1 Multispectral imaging in the surveillance used in drones
- 3.4.2 Integration of cloud computing and AI
- 3.4.3 Modular Open Systems Approach (MOSA) in military embedded systems
- 3.5 Patent analysis
- 3.6 Key news and initiatives
- 3.7 Regulatory landscape
- 3.7.1 International standards
- 3.7.1.2 ISO/IEC 15408-1:2022
- 3.7.1.3 ISO 26262-1:2011
- 3.7.1.4 IEEE 2700-2017 - IEEE Standard for Sensor Performance
- 3.7.1.5 ISO/IEC 29164
- 3.7.2 North America
- 3.7.2.1 MIL-STD-1553
- 3.7.2.2 MIL-STD-810G
- 3.7.2.3 NIST SP 800-53
- 3.7.2.4 NIST SP 800-160 Vol. 2 Rev. 1
- 3.7.2.5 Canadian Standards Association
- 3.7.3 Europe
- 3.7.3.1 Europe Chips Act 2021
- 3.7.3.2 EU REACH
- 3.7.3.3 The Restriction of Hazardous Substances Directive 2002/95/EC
- 3.7.4 Asia Pacific
- 3.7.4.1 Japan Electronics and Information Technology Industries Association (JEITA)
- 3.7.4.2 KC Certification, South Korea
- 3.7.4.3 CCC certification
- 3.7.5 Latin America
- 3.7.5.1 NOM-001-SEDE (Mexico)
- 3.7.6 MEA 57
- 3.7.6.1 UAE Information Assurance (IA) Regulation
- 3.8 Industry impact forces
- 3.8.1 Growth drivers
- 3.8.1.1 Increasing global military expenditure
- 3.8.1.2 Increasing demand for advanced unmanned systems
- 3.8.1.3 Rising adoption of military cloud computing
- 3.8.1.4 Growing cybersecurity concerns
- 3.8.1.5 Rising focus on network-centric warfare
- 3.8.2 Pitfalls & challenges
- 3.8.2.1 Complex designs and high energy consumption of embedded systems
- 3.8.2.2 Complexity and interoperability challenges
- 3.9 Growth potential analysis, 2023
- 3.10 Porter's analysis
- 3.11 PESTEL analysis
- Chapter 4 Competitive Landscape, 2023
- 4.1 Introduction
- 4.2 Company market share, 2023
- 4.3 Competitive analysis of the key market players
- 4.3.1 Curtiss-Wright Corporation
- 4.3.2 AMETEK Inc.
- 4.3.3 Advanced Micro Devices, Inc.
- 4.3.4 Honeywell International Inc.
- 4.3.5 Mercury System Inc.
- 4.3.6 Elbit Systems Ltd.
- 4.3.7 BAE System plc
- 4.4 Competitive positioning matrix
- 4.5 Strategic outlook matrix
- Chapter 5 Military Embedded Systems Market, By Platform
- 5.1 Military embedded systems market share, by platform, 2023 & 2032
- 5.2 Land
- 5.2.1 Market estimates and forecast, 2021 - 2032
- 5.3 Airborne
- 5.3.1 Market estimates and forecast, 2021 - 2032
- 5.4 Naval
- 5.4.1 Market estimates and forecast, 2021 - 2032
- Chapter 6 Military Embedded System Market, By Component
- 6.1 Military embedded system market share, by components, 2023 & 2032
- 6.2 Hardware
- 6.2.1 Market estimates and forecast, 2021 - 2032
- 6.3 Software
- 6.3.1 Market estimates and forecast, 2021 - 2032
- Chapter 7 Military Embedded System Market, By Application
- 7.1 Military embedded system market share, by application, 2023 & 2032
- 7.2 Command & control
- 7.2.1 Market estimates and forecast, 2021 - 2032
- 7.3 Intelligence, Surveillance and Reconnaissance (ISR)
- 7.3.1 Market estimates and forecast, 2021 - 2032
- 7.4 Combat systems
- 7.4.1 Market estimates and forecast, 2021 - 2032
- 7.5 Communication & navigation
- 7.5.1 Market estimates and forecast, 2021 - 2032
- 7.6 Avionics
- 7.6.1 Market estimates and forecast, 2021 - 2032
- 7.7 Vehicle systems
- 7.7.1 Market estimates and forecast, 2021 - 2032
- 7.8 Naval systems
- 7.8.1 Market estimates and forecast, 2021 - 2032
- 7.9 Others
- 7.9.1 Market estimates and forecast, 2021 - 2032
- Chapter 8 Military Embedded Systems Market, By Region
- 8.1 Military embedded system market share, by region, 2023 & 2032
- 8.2 North America
- 8.2.1 Market estimates and forecast, 2021-2032
- 8.3 Europe
- 8.3.1 Market estimates and forecast, 2021-2032
- 8.4 Asia Pacific
- 8.4.1 Market estimates and forecast, 2021-2032
- 8.5 Latin America
- 8.5.1 Market estimates and forecast, 2021-2032
- 8.6 MEA
- 8.6.1 Market estimates and forecast, 2021-2032
- Chapter 9 Company Profiles
- 9.1 Advanced Micro Devices, Inc.
- 9.1.1 Business overview
- 9.1.2 Financial data
- 9.1.3 Product landscape
- 9.1.4 Strategic outlook
- 9.1.5 SWOT analysis
- 9.2 AMETEK Inc
- 9.2.1 Business overview
- 9.2.2 Financial Data (USD Million)
- 9.2.3 Product Landscape
- 9.2.4 Strategic outlook
- 9.2.5 SWOT analysis
- 9.3 BAE Systems plc
- 9.3.1 Business overview
- 9.3.2 Financial data (USD Million)
- 9.3.3 Product landscape
- 9.3.4 Strategic outlook
- 9.3.5 SWOT analysis
- 9.4 Concurrent Technologies
- 9.4.1 Business overview
- 9.4.2 Financial data
- 9.4.3 Product landscape
- 9.4.4 Strategic outlook
- 9.4.5 SWOT analysis
- 9.5 Crystal Group Inc
- 9.5.1 Business overview
- 9.5.2 Financial data
- 9.5.3 Product landscape
- 9.5.4 Strategic outlook
- 9.5.5 SWOT analysis
- 9.6 Curtiss-Wright Incorporated
- 9.6.1 Business overview
- 9.6.2 Financial data
- 9.6.3 Product landscape
- 9.6.4 Strategic outlook
- 9.6.5 SWOT analysis
- 9.7 Elbit Systems Ltd.
- 9.7.1 Business overview
- 9.7.2 Financial data
- 9.7.3 Product landscape
- 9.7.4 Strategic outlook
- 9.7.5 SWOT analysis
- 9.8 General Dynamics Corporation
- 9.8.1 Business overview
- 9.8.2 Financial data
- 9.8.3 Product landscape
- 9.8.4 Strategic outlook
- 9.8.5 SWOT analysis
- 9.9 Honeywell International Inc
- 9.9.1 Business overview
- 9.9.2 Financial data
- 9.9.3 Product landscape
- 9.9.4 Strategic outlook
- 9.9.5 SWOT analysis
- 9.10 Intel Corporation
- 9.10.1 Business overview
- 9.10.2 Financial data
- 9.10.3 Product landscape
- 9.10.4 Strategic outlook
- 9.10.5 SWOT analysis
- 9.11 KONTRON AG
- 9.11.1 Business overview
- 9.11.2 Financial data (All numbers are in USD million)
- 9.11.3 Product landscape
- 9.11.4 Strategic outlook
- 9.11.5 SWOT analysis
- 9.12 Mercury Systems, Inc.
- 9.12.1 Business overview
- 9.12.2 Financial data (All numbers are in USD million)
- 9.12.3 Product landscape
- 9.12.4 Strategic outlook
- 9.12.5 SWOT analysis
- 9.13 NXP Semiconductors
- 9.13.1 Business overview
- 9.13.2 Financial data
- 9.13.3 Product Landscape
- 9.13.4 SWOT Analysis
- 9.14 Texas Instruments Incorporated
- 9.14.1 Business overview
- 9.14.2 Financial Data
- 9.14.3 Product landscape
- 9.14.4 Strategic Outlook
- 9.14.5 SWOT analysis
- 9.15 Thales
- 9.15.1 Business overview
- 9.15.2 Financial data (All numbers are in USD million)
- 9.15.3 Product landscape
- 9.15.4 Strategic outlook
- 9.15.5 SWOT analysis
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