Last month Juniper Research said the number of mobile phone users making payments for digital goods was expected to reach 2.5 billion worldwide by 2015, a 40% increase from this year’s forecast of 1.8 billion.
It’s now published a new study that looks at all mobile money transactions. The company says the total value of mobile payments for digital and physical goods, money transfers and NFC transactions will reach $670 billion (£416 billion) by 2015. That’s a dramatic increase from $240 billion this year.
All segments are expected to show two to three-fold growth over the next five years, driven by the adoption of mobile ticketing, contactless payments, physical goods purchases and money transfers. NFC transactions alone are expected to approach $50 billion worldwide by 2014.
David Snow, senior analyst at Juniper Research, said “Our analysis shows that emerging segments such as physical goods payments, NFC and money transfers will fuel market growth by a factor of 2.7 times by 2015. Digital goods is the largest segment and, although forecast to more than double, it is not growing as quickly as some of the newer segments.”
Payments for digital goods are forecast to account for nearly 40% of the mobile transaction market in 2015.