The QR codes (abbreviated from Quick Response code) are basically two-dimensional bar codes and contain a pattern of black squares organized in a square grid on the white background. QR codes can be read through an imaging device like smartphone camera. The QR codes have become increasingly popular as a mobile payment technique in several countries. Now, there is a widening industry emphasis on supporting and managing the usage of QR codes in the payment services. The organizations involved in the ecosystem of this market include payment industry groups, central banks, mobile app providers, smartphone manufacturers, and major retailers.
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Key Players:
- Alibaba Group Holding Limited
- Google Inc.
- LINE Pay
- Meituan-Dianping
- Mobikwik
- National Payments Corporation of India (NPCI)
- Paytm
- Scanova
- Tencent Holdings Ltd.
- UnionPay
A large number of banks and payments industry companies are reviewing their strategies to gain full advantage of various payment alternatives, which in turn is boosting the growth of QR scan payment market. Some of the other key drivers that are propelling the growth of QR scan payment market are the accessibility of high speed internet and increase in demand for smartphones. In addition, QR scan payments gaining popularity across numerous emerging countries in APAC region, which is anticipated to cater significant growth opportunities for the QR scan payment market.
MARKET SEGMENTATION
The global QR scan payment market is segmented on the basis of type and application. Based on type, the QR scan payment market is divided into Consumer-Presented QR Code, Merchant-Presented QR Code. Based on application, the QR scan payment market is segmented as restaurant, supermarket, ticketing, other.
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The report analyzes factors affecting QR scan payment market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for the QR scan payment market for each region.
Major highlights of the report:
- An all-inclusive evaluation of the parent market
- The evolution of significant market aspects
- Industry-wide investigation of market segments
- Assessment of the market value and volume in the past, present, and forecast years
- Market share evaluation
- Study of niche industrial sectors
- Tactical approaches of the market leaders
- Lucrative strategies to help companies strengthen their position in the market.
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