Report Description
A recent market
intelligence report that is published by Data Insights Partner on the global QR
Scan Payment Market makes an offering of in-depth analysis of segments and
sub-segments in the regional and international QR Scan Payment Market. The
research also emphasizes on the impact of restraints, drivers, and macro
indicators on the regional and global QR Scan Payment Market over the short as
well as long period of time. A detailed presentation of forecast, trends, and
dollar values of global QR Scan Payment Market is offered. In accordance with the
report, the global QR Scan Payment Market is projected to expand at a CAGR of xx%
over the period of forecast.
Market Insight, Drivers, Restraints&
Opportunity of the Market:
QR Scan Payment
is a mode of contactless payment, wherein the consumer scans the QR code that
shows on his mobile application. QR Codes can be used to pay utility bills,
grocery, fuels etc.
The transaction
taken to process the payment is faster as compared to other mode of payments.
Also, the time taken to on-board a merchant is much lesser and the procedure is
hassle-free as compared to PoS machines. The growing prevalence of Smartphones
in various emerging economies, consumers now prefer to make payment through QR
code instead of cash transactions. POS terminals as compared to QR codes is
very expensive, due to which merchants are adopting the QR Scan payment method
for their transactions.
However, the
major challenges faced by QR Scan Payment market is the increase in number of
infected smartphones with viruses that might lead to security breach
Various
companies in China like Alibaba and WeChat started offering the facilities of
QR Scan payment method, due to which QR code payment volumes in China have
increased considerably. With an increase in population and adaptability to
advanced technologies, the region of Asia is expected to dominate the global QR
Scan payment market in the forecast period. The biggest opportunity that will
lead to growth of this market is the fact that small retail shops and vendors
are now adopting the QR Scan payment method due to its low cost model and
eventually with an increase in such vendors, customers will replace cash
transactions with the technologically advanced option of scanning QR Code.
With the recent
attack of Coronovirus (Covid-19), various countries are in a complete or
partial lockdown and are maintaining strict social distancing. Due to strict lockdown
policies enforced by respective Governments of all countries, various
businesses in industries like entertainment, food & beverage, travel etc. are
not operational. With industries like these which are experiencing a sharp
slowdown, an estimated 30% decline is expected in digital payment market,
thereby decreasing the overall demand for QR Scan Payment market globally.
Segment Covered:
This market
intelligence report on the global QR Scan Payment Market encompasses market
segments based on product type, application and country/regions.
In terms of application, the global QR Scan
Payment Market is segregated
into
§ Restaurant
§ Supermarket
§ Travel
§ Others
By type, the global QR Scan Payment Market is also classified into,
§ Active Scan Code
§ Others
By country/region, the global QR Scan Payment Market has been divided into
§ North America (the U.S., Canada),
§ Latin America (Brazil, Mexico, Argentina and other
countries),
§ Europe (Germany, France, the U.K., Spain, Italy, Russia,
and other countries),
§ Asia Pacific (India, Japan, China, Australia and New
Zealand and other countries),
§ Middle East and Africa (GCC, South Africa, Israel and
Other countries).
Profiling of Market
Players:
This business
intelligence report offers profiling of reputed companies that are operating in
the market. Companies such as
§ Alibaba
§ Tencent
§ Union China
§ Paytm
§ BarclayCard
§ Line Pay
§ Meituan Dianping
Others players have
been profiled into detail so as to offer a glimpse of the market leaders.
Moreover, parameters such as QR Scan Payment related
investment & spending and developments by major players of the market are
tracked in this global report.
Report Highlights:
In-depth
analysis of the micro and macro indicators, market trends, and forecasts of
demand is offered by this business intelligence report. Furthermore, the report
offers a vivid picture of the factors that are steering and restraining the
growth of this market across all geographical segments. In addition to that, Growth
Matrix analysis is also provided in the report so as to share insight of the
investment areas that new or existing market players can take into consideration.
Various analytical tools such as DRO analysis, Porter's five forces analysis
has been used in this report to present a clear picture of the market. The
study focuses on the present market trends and provides market forecast from
the year 2020-2028. Emerging trends that would shape the market demand in the
years to come have been highlighted in this report. A competitive analysis in
each of the geographical segments gives an insight into market share of the
global players.
Salient Features:
Ø
This study offers
comprehensive yet detailed analysis of the QR Scan Payment Market, size of the market (US$ Mn), and Compound Annual Growth
Rate (CAGR (%)) for the period of forecast: 2020 – 2028, taking into account
2019 as the base year
Ø
It explains upcoming
revenue opportunities across various market segments and attractive matrix of
investment proposition for the said market
Ø
This market
intelligence report also offers pivotal insights about various market opportunities,
restraints, drivers, launch of new products, competitive market strategies of
leading market players, emerging market trends, and regional outlook
Ø
Profiling of
key market players in the world QR Scan Payment Market is done by taking into account various parameters such as
company strategies, distribution strategies, product portfolio, financial
performance, key developments, geographical presence, and company overview
Ø
Leading
market players covered this report comprise names such as Alibaba, Tencent,
Union China, PayTm, BarclayCard, Line Pay, Meituan Dianping and many more.
Ø
The data of
this report would allow management authorities and marketers of companies alike
to take informed decision when it comes to launch of products, government
initiatives, marketing tactics and expansion, and technical up gradation
Ø
The world
market for QR Scan Payment Market caters to the needs of various stakeholders pertaining to this
industry, namely suppliers, manufacturers, investors, and distributors for QR Scan Payment Market. The research also caters to the rising needs of consulting
and research firms, financial analysts, and new market entrants
Ø
Research
methodologies that have been adopted for the purpose of this study have been
clearly elaborated so as to facilitate better understanding of the reports
Ø
Reports have
been made based on the guidelines as mandated by General Data Protection
Regulation
Ø
Ample number
of examples and case studies have been taken into consideration before coming
to a conclusion
Reasons to buy:
v
Identify
opportunities and plan strategies by having a strong understanding of the
investment opportunities in the QR Scan Payment Market
v
Identification
of key factors driving investment opportunities in the QR Scan Payment Market
v
Facilitate
decision-making based on strong historic and forecast data
v
Position
yourself to gain the maximum advantage of the industry’s growth potential
v
Develop
strategies based on the latest regulatory events
v
Identify key
partners and business development avenues
v
Respond to your
competitors’ business structure, strategy and prospects
v
Identify key
strengths and weaknesses of important market participants