Mobile Payment Security Software Market Size, Share, Global Insights, Analysis and Outlook, Emerging Trends and Research Report by Market Reports Center

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Mobile Payment Security Software Market Size, Share, Global
Insights, Analysis and Outlook, Emerging Trends and Research Report
by Market Reports Center
Summary
Technavio Announces the Publication of its Research Report – Global Mobile Payment Security
Software Market 2016-2020
Technavio recognizes the following companies as the key players in the global mobile payment
security software market: Apple, CA Technologies, Gemalto, Google, and VASCO.
Other Prominent Vendors in the market are: Chase Paymentech Solutions, Google, HP, Intel,
Magtek, UL, and Vantiv.
Commenting on the report, an analyst from Technavio’ s team said: “ A key trend which is boosting
market growth is the introduction of mobile biometrics. With an increase in the use of mobile devices
for conducting financial and e-commerce transactions, the security of personal data has become a
major concern. A number of biometric technologies such as fingerprint recognition, voice recognition,
iris recognition, signature recognition, keystroke recognition, and facial recognition are being
integrated into mobile devices, which will ensure authorized access to personal data transmitted
through wireless networks. It will ensure the security of data and prevent fraudulent activities.”
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According to the report, a key growth driver is the increased use of wireless networks. With an
increase in the adoption of mobile devices among individual consumers, the use of wireless
networks such as 2G and 3G has increased. With high adoption of LTE for conducting payment
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transactions on mobile devices such as smartphones and tablets, the instances of cyber-attacks
have increased. This is likely to increase the number of identity thefts resulting in unauthorized
access to secure financial information. This has increased the need for mobile payment security
software, which will support the market growth.
Further, the report states that a major factor that could hamper market growth is the intense market
competition among players. The dynamic technological landscape of the market is leading to the
entry of new vendors through partnerships and acquisitions, which is intensifying the overall
competitive landscape. This is compelling existing vendors to develop advanced software to remain
competitive in the market. Some vendors such as Gemalto are also introducing customized software
to cater to specific customer requirements. As many vendors provide mobile payment security
software, the chances of price wars have increased. This will affect vendors' profit margins and the
overall market revenue.
The study was conducted using an objective combination of primary and secondary information
including inputs from key participants in the industry. The report contains a comprehensive market
and vendor landscape in addition to a SWOT analysis of the key vendors.
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About the Mobile Payment Security Software
Due to the growing instances of theft of confidential financial data, a number of customers are
adopting mobile payment security software for mobile devices. This will prevent fraudsters from
gaining access to credit and debit card details as the entire payment transaction requires
authorization between the merchant's acquirer and issuing bank.
The rising adoption of m-commerce and mobile banking is likely to increase the adoption of mobile
payment security software. There is also a growing need to secure personal financial information
among users, which is fostering the growth of the market.
Technavio’ s analysts forecast the global mobile payment security software market to grow at a
CAGR of 23.7% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global mobile payment
security software market for 2016-2020. To calculate the market size, Technavio considers the
revenue generated from the installation of mobile payment security software in mobile devices that
only cover smartphones and tablets. The revenue generated from after-sales services is not
considered.
The market is divided into the following segments based on geography:
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• Americas
• APAC
• EMEA
Technavio's report, Global Mobile Payment Security Software Market 2016-2020, 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 over the coming years. The report also includes a
discussion of the key vendors operating in this market.
Key vendors
• Apple
• CA Technologies
• Gemalto
• Google
• VASCO
Other prominent vendors
• Chase Paymentech Solutions
• HP Enterprise
• Intel
• MagTek
• UL
• Vantiv
Market driver
• Increased use of wireless networks
• For a full, detailed list, view our report
Market challenge
• Intense vendor competition
• For a full, detailed list, view our report
Market trend
• Introduction of mobile biometrics
• For a full, detailed list, view our report
Key questions answered in this report
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• What will the market size be in 2020 and what will the growth rate be?
• What are the key market trends?
• What is driving this market?
• What are the challenges to market growth?
• Who are the key vendors in this market space?
• What are the market opportunities and threats faced by the key vendors?
• What are the strengths and weaknesses of the key vendors?
You can request one free hour of our analyst’ s time when you purchase this market report. Details
are provided within the report.
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Connect for more details:
Sam Collins
Market Reports Center
1-646-883-3044 (US)
[email protected]

According to the report, a key growth driver is the increased use of wireless networks.