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Financial Applications on Cell Phones to Attract 2.2
Billion Users in the Next Five Years, says Insight Research
press
release
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BOONTON, NJ.
April 20, 2009:
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Recent
Reports
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Eight financial applications
for mobile phones are forecasted to become part of the daily routine of nearly
2.2 billion mobile phone users worldwide over the next five years, says a new
market research study released by the Insight Research Corporation. According
to the market analysis study, these eight mobile financial applications will
generate nearly $124 billion for application developers and for the cell phone
companies providing access to these applications on their networks over the
forecast period.
According to the report,
“The Mobile Phone and Financial Applications Worldwide, 2009-2014” the
cumulative number of users subscribing independently to each of eight selected
mobile financial services will more than triple during the period 2009-2014.
The study evaluated the use of mobile banking applications; mobile stock
trading; mobile proximity and retail applications; mobile credit cards; mobile
bar coding; mobile peer-to-peer applications, mobile gaming; and mobile
gambling. The study noted that although all the applications run on the same
end-user device—the mobile phone—each application comes with a unique set of
factors that influence its market acceptance and market prospects. Thus each
application was mapped and forecasted independently of one another.
“The World Bank is predicting
that the global economy is going to shrink this year for the first time since
the Second World War, and though no one can predict when the present recession
will end, it is a safe bet that it will,” says Insight Research president Robert
Rosenberg. “Our analysis suggests that the eight cell phone financial
applications covered in this study will be part of the solution. When this
recession ends, the global financial system will emerge stronger and more
tightly integrated, and the cell phone’s new financial transaction capabilities
will be a part of the foundation of that recovery,” Rosenberg concluded.
A free report excerpt, table of
contents, and ordering information for “The Mobile Phone and Financial
Applications Worldwide 2009-2014,” can be found online at
http://www.insight-corp.com/reports/MPF08.asp. The full 148-page report is
available immediately for $3,995 (hard copy). Adobe Acrobat (PDF) report
licenses are also offered. Visit our website or call (973) 541-9600 for details.
For more information please
contact:
Ms. Kim Novak, Marketing Director
973-541-9600
kim@insight-corp.com |
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