Global Master Recharge API Market size was valued US$ XX Bn in 2019 and is expected to reach US$ 17.3 Bn by 2027, at a CAGR of 5.6% during forecast period.
Global Master Recharge API Market, By Region
The introduction of many updated billing and recharge technologies and the propagation of online payment technologies led to the development of the retail industry. Master Recharge API technology is one of the significant technologies contributing to the growth of the retail payment industry.The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
The master recharge API market has witnessed significantly increased demand, thanks to the growing number of smartphone users and increasing adoption of online payments across the world. The report contains a detailed list of factors that will drive and restrain the growth of the master recharge API market.
In 2019, the total number of smartphone global users were estimated to be US$ 2 Bn, out of which 77% of the smartphone users use internet frequently on their device. With the growing adoption of smartphones, the surge in the use of the payment service on the smartphone has been witnessed among the users because of the convenience and cost-effectiveness of the online payment solution.
Prepaid mobile recharge of master recharge API is expected to grow at the highest CAGR of XX.23% and anticipated to hold the highest market share of nearly 30% over the forecast period. DTH recharge services also contribute significantly to the growth of the master recharge API market. However, the electricity and other utility services bill payment services are anticipated to gain traction during 2020-2027. The report provides an in-depth segment analysis of the global master recharge API market, thereby providing valuable insights at micro as well as macro levels.
The report offers a brief analysis of the major regions in the master recharge API market, namely, Europe, North America, Asia-Pacific, South America, and the Middle East & Africa. Among this, The Asia-Pacific held the largest revenue X.2% share of the master recharge API market in 2019 and is anticipated to grow at a nearby CAGR of 6.4% during the forecast period. Analyzing the APAC master recharge API market at country level, it is seen that China held a majority of the revenue share of the APAC master recharge API market followed by India in 2019. However, in terms of growth rate, India is anticipated to show healthy CAGR over 2020-2027.
The rapid digitization in Europe complements the master recharge API market development in the region. According to the European Central Bank, the total number of non-cash payments in the European Area reached US$ 90.7 Bn in 2018. The increase in the number of internet service providers in the US drives the growth of the market for master recharge API market in North America.
The objective of the report is to present a comprehensive analysis of the Global Master Recharge API Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Master Recharge API Market dynamics, structure by analyzing the market segments and projects the Global Master Recharge API Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Master Recharge API Market make the report investor’s guide.
Scope of the Global Master Recharge API Market
Global Master Recharge API Market, By Service
• Prepaid Mobile Recharge
• Postpaid Mobile Recharge
• Data Card
• Others (Gas, Other Utilities, etc.)
Global Master Recharge API Market, By Region
• North America
• Middle East & Africa
• South America
Key players operating in Global Master Recharge API Market
• Cyrus Technoedge
• Euronet Worldwid
• Axis Softech
• Recharge Handa (Handa Enterprises)
• Indian Web Technologies (IWT)
• Pixyrs Softech
• Pointer Soft Technologies
• Xtracare IT Solution
• LBS Software
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