According to a new market research report published by Credence Research “Global Master Recharge API Market – Growth, Future Prospects, and Competitive Analysis, 2019–2027”, the master recharge API market is set to grow with a CAGR of 4.8% during the forecast period, started from US$ 10.82 bn in 2018.
Market Insights
The master recharge API market is driven by the growing adoption of smartphones across the globe. Smartphone has emerged as the most common gadget across the peoples that enable them to connect to entertainment, information, communication services anytime and anywhere. The total number of smartphone users worldwide was estimated to be around 2 billion, out of which 77% of the smartphone users the 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 due to the convenience and cost-effectiveness of the online payment solution.
Browse Full Report Originally Published by Credence Research at https://www.credenceresearch.com/report/master-recharge-api-market
The prepaid mobile recharge services segment dominated the master recharge API market by holding a market share of around 30% and is a project to follow the trend during the forecast period. DTH recharge services also contribute significantly to the growth of the market. However, the electricity and other utility services bill payment services are anticipated to gain traction during the forecast period. The supportive government initiative by the government to promote the use of digital payment services for government services is the primary factor backing the growth of the market. Moreover, the rising collaboration activities between the service providers and the master recharge API developers are estimated to boost the market growth.
Asia Pacific’s master recharge API market is projected to grow extensively over the forecast period with a CAGR of over 8%. The rapid digitalization across the region is the primary factor accelerating the adoption of the master recharge API services. The large scale adoption of the smartphone and tablets in the region is also serving as a major driver for the growth of the market. Moreover, the rising adoption of the online payment solution is further injecting the growth in the market.
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List of Companies Covered:
- Axis Softech Private Limited
- Crowd Finch
- Cyrus Technoedge Solutions Pvt. Ltd.
- Euronet Worldwide
- Ezetop
- Indian Web Technologies
- Jolo
- LBS Software
- LBS Software
- MyRecharge
- Pixyrs Softech
- 9.12 Pointersoft Technologies
- Recharge Handa
- Xtracare IT Solution
Report Scope by Segments
By Service Segment (2017–2027; US$ Bn)• Data Card
• DTH
• Electricity
• Insurance
• Postpaid Mobile Recharge
• Prepaid Mobile Recharge
• Others
• DTH
• Electricity
• Insurance
• Postpaid Mobile Recharge
• Prepaid Mobile Recharge
• Others
By Geography Segment
- North America (the U.S., Rest of North America)
- Europe (U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, Japan, India, Rest of Asia Pacific)
- Rest of World (Middle East & Africa (MEA), Latin America)
Key questions answered in this report
- What was the market size of the master recharge API in 2018 and forecast up to 2027?
- Which is the largest regional market for master recharge API?
- What are the major trends followed in the master recharge API market across different regions?
- Who are the key companies in the master recharge API market?
- What are the key strategies adopted by the leading master recharge API companies in the market?
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