Mobile Money Transactions in Emerging Markets Will Hit $395bn by 2017

The number of active users of mobile money in emerging markets is forecast to grow to 381m by 2017, according to research by Berg Insight. Thats up from 61m in 2011, representing a CAGR (Compound Annual Growth Rate) of 36 per cent.

Today, many of the most successful mobile money are in use in Africa, such as Kenyas M-Pesa, but this growth is expected to make the Asia-Pacific region the most important regional market, accounting for nearly two-thirds of the active user base in 2017. 

The total value of mobile money transactions in emerging markets, meanwhile, is projected to grow at a CAGR of 44 per cent over the same period. It totalled $44bn in 2011, but will hit $395bn in 2017.

“The industry is in a very exciting phase right now. Mobile money has not only taken off in Kenya, we’re seeing exponential growth in Tanzania, Uganda and several other countries as well”, said Berg Insight telecom analyst Lars Kurkinen. “Mobile money is reshaping the market for products such as microinsurance, and will drive uptake of electronic payments for goods and services in many emerging economies.”

 

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