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Master Recharge API Market By Service (Data Card, DTH, Electricity, Insurance, Postpaid Mobile Recharge, Prepaid Mobile Recharge, Others) - Growth, Future Prospects, And Competitive Analysis, 2019 – 2027

The Increasing Adoption of Online Payment Solutions is Driving the Growth of the Master Recharge API Market

Globally, the master recharge API market is expected to grow with a CAGR of 4.8% during the forecast period from 2019 to 2027, starting from US$ 10.82 bn in 2018. The market is driven by the increasing adoption of online Payment and mobile payment solutions across the globe. As information availability increases and the customers become empowered, the financial institutes are leveraging the online banking channels to meet the customers on their choice of channels. This is augmenting the demand for the master recharge API solution across the industry verticals.

The increasing adoption of smartphones and tablets across the globe further accelerates the adoption of the master recharge API services. Furthermore, the increasing adoption of the online payment solution across the retail sector is augmenting the demand for the master recharge API. However, the data safety and security issues associated with using online payment solutions are inhibiting the market's growth. Moreover, the absence of a clear regulatory framework is restricting market growth.    

Market Synopsis

Prepaid Mobile Recharge Service is Estimated to Grow Significantly During the Forecast Period  

The master recharge API market is segmented into data card, DTH, prepaid recharge, electricity, insurance, and others. Prepaid recharge accounted for more than 30% of the master recharge API revenue in 2018. The market growth is attributed to the wide-scale adoption of mobile apps for bill payments and recharges among the younger population. Furthermore, the attractive discount, coupons, and cashback offers from the solution providers accelerate the adoption of online payment solutions, further driving the market growth.

North America is Leading the Master Recharge API Market                         

North America led the master recharge API market in 2018 with a market share of more than 33%. The increasing adoption of smartphones and tablets across the region is the primary factor driving the market growth. The rising trend of online Payment also acts as a major driver for market growth. Additionally, the growing need among organizations to provide better customer services to the customer is further driving the market growth.

The major vendors in the master recharge API market are Crowd Finch, Axis Softech Private Limited, Recharge Handa, Cyrus Technoedge Solutions Pvt. Ltd., Ezetop, Euronet Worldwide, Indian Web Technologies, LBS Software, Jolo, MyRecharge, Pointersoft Technologies, Pixyrs Softech, and Xtracare IT Solution.

Historical & Forecast Period

This research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. In addition, compounded Annual Growth Rate (CAGR) for each respective segment was calculated for the forecast period from 2019 to 2027.

Report Scope by Segments

The master recharge API market report provides market size and estimates based on market dynamics and key trends observed in the industry. In addition, the report provides a holistic view of the global master recharge API market based on service and geography.

Frequently Asked Questions:

The market for Master Recharge API is expected to reach US$ 10.82 bn in 2028.

The Master Recharge API market is expected to see significant CAGR growth over the coming years, at 4.8%.

The report is forecasted from 2019-2027.

The base year of this report is 2021.

Axis Softech Private Limited, Crowd Finch, Cyrus Technoedge Solutions Pvt. Ltd., Euronet Worldwide, Ezetop, Indian Web Technologies, Jolo, LBS Software, LBS Software are some of the major players in the global market.

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Executive Summary - Brief Global Market Size - Current & Forecast
Regional Market Size - North America
Country Market Size - US
Company Profile – 1
Trusted By
Godaddy
Published Date:  Dec 2019
Category:  IT & Telecom
Report ID:   60123
Report Format:   PDF
Pages:   120
Rating:    4.2 (69)
Delivery Time: 24 Hours to 48 Hours   
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