Market Trend

Mobile transactions earn $1 trillion by 2014

The value of global mobile transactions is predicted to reach $1 trillion by 2014.

Yankee Group has predicted that the value of global transactions will grow by $822 billion between 2010 and 2014, growing from $162 billion to $984 billion. However, they estimate that fewer than 10% of consumers will be willing to make extra payments for mobile transaction services.

Over the next three years Asia-Pacific will overtake EMEA in its number of active mobile banking users. By 2014, Asia-Pacific is expected to have 54% of the active mobile banking users with EMEA and North America’s hold decreasing to 32% and 10% respectively. Meanwhile, the number of active mobile banking users in Latin America is predicted to remain unchanged.

The value of near field communications (NFC)-based transactions is estimated to rise from $27 million in 2010 to $40 billion in 2014. NFC enabled phones will increase from 834,000 to 151 million in the period.

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