Emerging markets to lead mobile money growth

The number of mobile money subscribers in emerging markets is forecasted to grow from 133 million users in 2010 at a compound annual growth rate of 40% to reach 709 million users in 2015, according to a report from Berg Insight.

The total value of mobile money transactions will simultaneously grow at a CAGR of 54% from US$25bn in 2010 to $215bn in 2015.

Asia-Pacific is expected to become the most important regional market, accounting for more than half of the total user base.

Berg also forecasts that international airtime transfers will grow at a CAGR of 67% from $130m in 2010 to reach $1.67bn in 2015.

“In developing regions such as Africa the mobile phone will become the primary digital channel for people to conduct financial services in the coming years,” said Lars Kurkinen, telecoms analyst at Berg Insight.

“Financial institutions are beginning to realise the importance of mobile phones to reach new clients viewing mobile money services as high-priority strategic projects.”

The report also identifies mobile international value transfer as a high-growth market and an important revenue source for mobile industry players. Berg estimates that $16bn of international money transfers will be received using mobile phones in 2015, up from less than $1bn in 2010.

“Mobile operators and third party service providers are ramping up their efforts to target the huge unbanked populations in emerging markets,” said Kurkinen. “The number of live mobile money services has thus grown at an explosive rate during the past two years and recently reached as many as 300 commercial deployments.”

FEATURED IoT STORIES

9 IoT applications that will change everything

Posted on: September 1, 2021

Whether you are a future-minded CEO, tech-driven CEO or IT leader, you’ve come across the term IoT before. It’s often used alongside superlatives regarding how it will revolutionize the way you work, play, and live. But is it just another buzzword, or is it the as-promised technological holy grail? The truth is that Internet of

Read more

Which IoT Platform 2021? IoT Now Enterprise Buyers’ Guide

Posted on: August 30, 2021

There are several different parts in a complete IoT solution, all of which must work together to get the result needed, write IoT Now Enterprise Buyers’ Guide – Which IoT Platform 2021? authors Robin Duke-Woolley, the CEO and Bill Ingle, a senior analyst, at Beecham Research. Figure 1 shows these parts and, although not all

Read more

CAT-M1 vs NB-IoT – examining the real differences

Posted on: June 21, 2021

As industry players look to provide the next generation of IoT connectivity, two different standards have emerged under release 13 of 3GPP – CAT-M1 and NB-IoT.

Read more

IoT and home automation: What does the future hold?

Posted on: June 10, 2020

Once a dream, iot home automation is slowly but steadily becoming a part of daily lives around the world. In fact, it is believed that the global market for smart home automation will reach $40 billion by 2020.

Read more
RECENT ARTICLES

AND Technology Research and University of Essex join forces to develop self-powering, battery-less IoT device powered by AI

Posted on: September 24, 2021

Purpose-led technology company, AND Technology Research, is announcing a new partnership with computer scientists from the University of Essex to explore new ways of reducing the amount of power a device needs, while at the same time using energy harvesting techniques to produce truly self-powering devices.

Read more

How can IoT optimise the bearing supply chain?

Posted on: September 24, 2021

In 2020, stock management issues were estimated to cost UK manufacturers 66 billion GBP  because of disruption caused by the pandemic. Consequently, the quest to improve efficiency, cut waste and enhance supply chain operations is one that suppliers know all too well. Here Chris Johnson, managing director at miniature bearings specialist SMB Bearings, explains how the Internet of Things

Read more