Payments

Mobile payments market to reach $115T by 2035

Photo: Adobe Stock

June 5, 2026

Summarize with

The mobile payments market is expected to grow from $9.07 trillion in 2026 to $115.03 trillion by 2035, according to research by Precedence Research. This reflects a compound annual growth rate of 32.61%, according to a press release.

Key findings in the report include:

Proximity payments segment holds a 43% market share.
Remote payments segment will see the largest growth.
By application/use, retail and e-commerce had a share of 46% in 2025.
Asia Pacific held a 40% market share in 2025.
Consumer usage held a 70% market share in 2025.

The proximity payments have held such a high market share due to the rising availability of NFC, contactless and Bluetooth-enabled technology. The entertainment/services segment will grow at a CAGR of 18.4% for its usage for streaming services, online gaming, food delivery and other services.

Payments