SOURCE: Juniper Research Limited

Juniper Research Limited

February 08, 2011 03:57 ET

Active Users of Mobile Money Services to Double in the Next 2 Years, Exceeding 200 Million Worldwide by 2013 New Juniper Report Forecasts

Developing Nations to Lead With Social Payment Apps Augmenting the Market in Developed Countries

HAMPSHIRE, UNITED KINGDOM--(Marketwire - February 8, 2011) - According to the latest analysis from Juniper Research (www.juniperresearch.com), the need to access basic financial services by users in developing countries will drive the short term growth of active mobile money users globally to exceed 200 million by 2013. Currently well under 100 million people use these services.

Juniper Research's new report -- 'Mobile Money Transfers & Remittances: Markets, Forecasts & Vendor Strategies 2011-2015' -- also cautions that whilst there are several high profile examples of extremely successful mobile money services, each new rollout needs an established, robust and extensive local distribution network to ensure access to the service. 

Howard Wilcox, Senior Analyst at Juniper Research gave more details of the market opportunities: "Our report reveals the sheer number of mobile money services, with more launches in the first eleven months of 2010 than in the whole of 2009. However, there are still many developing countries without these services, plus we're seeing typically at least three services per country." 

Further findings from the Juniper Research Mobile Money Transfer report include:

  • The market has been boosted recently by person-to-person money apps in developed countries to enable people to easily make social transfers such as split the cost of meals, or pay the babysitter

  • Nearly 40% of active users in 2015 will be in the Africa & Middle East region

The report contains comprehensive five year forecasting for all the key market parameters including users, transactions and values for domestic and international transfers, and sophisticated mobile financial services. Additionally the report highlights the conclusions from Juniper's analysis of 22 vendors addressing the market and provides assessments of regional market attractiveness.

The Mobile Money whitepaper and further details of the study, 'Mobile Money Transfers & Remittances: Markets, Forecasts & Vendor Strategies 2011-2015' can be downloaded from the Juniper website.

About Juniper Research
Juniper Research (www.juniperresearch.com) provides research and analytical services to the global hi-tech communications sector, providing consultancy, analyst reports and industry commentary.

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