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Master Recharge API Market Segmentation by Recharge Type (Prepaid Mobile Recharge, Postpaid Mobile Recharge, Data Card, DTH, Electricity, Insurance, and Others); and by Portal Type (Mobile Recharge, White Label Application, B2B and B2C Recharge Software, and Others) – Global Demand Analysis & Opportunity Outlook 2030

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Extensive insights into the Growth of Master Recharge API Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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IN THE NEWS

  • February 2020- Euronet Worldwide announced that it will provide integration and content aggregation services to Amazon India through its REV Payments Cloud for adding mobile recharges, gift cards, bill payments and other offerings.

Global Master Recharge API Market Highlights 2022 – 2030

The global master recharge API market is estimated to garner a large amount of revenue and grow at a CAGR of ~5% over the forecast period, i.e., 2022 – 2030. The growth of the market can be primarily attributed to the growing proliferation of smartphone users across the world, and increasing adoption of online payment techniques. In 2020, more than 6 billion people used smartphones around the world, up from approximately 5.5 billion and 5 billion people in the years 2019 and 2018 respectively.

Along with these, rise in penetration of internet services, and upsurge in trend of using more than one smartphone or multi-SIM connections among population globally are also expected to drive market growth in the upcoming years. Furthermore, governments are highly emphasizing on digital payments, especially in developing nations. Coupled with the rapid expansion of service networks by merchants for last-mile connectivity, these factors are projected to offer profitable opportunities to the market in the near future.

Master Recharge API Market GraphThe market is segmented by recharge type into prepaid mobile recharge, postpaid mobile recharge, data card, DTH, electricity, insurance, and others, out of which, the prepaid mobile recharge segment is anticipated to hold the largest share in the global master recharge API market. This can be largely accounted to the increasing penetration of smartphones around the world. In addition to this, ease of mobile recharge, 24x7 availability and multiple payment options are also assessed to boost the growth of the market segment in the future. Moreover, on the basis of portal type, the mobile recharge segment is evaluated to acquire the largest share during the forecast period owing to the rising presence of telecom service providers, which is predicted to lead to a surge in the number of distributors, retailers, label companies and API integrators worldwide.CLICK TO DOWNLOAD SAMPLE REPORT

Major Macro-Economic Indicators Impacting the Market Growth

Research and Development Expenditure Graph

The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.

Global Master Recharge API Market Regional Synopsis

On the basis of geographical analysis, the global master recharge API market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in the Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of the rise in number of projects associated with digitalization and growing government initiatives to use master recharge APIs, particularly in developing countries. Additionally, the market in North America is assessed to acquire the most significant share by the end of 2030, which can be credited to the early adoption of technology, and high usage of digital wallets and other smartphone-based payment interfaces in the region. For instance, more than 45 percent of the population aged 24-39 years in the United States used digital wallets in 2020, followed by almost 44 percent of the people belonging to the age group of 18–23-year-olds. Apart from these, strong presence of several payment providers is also projected to accelerated North America’s market growth in the coming years.

The global master recharge API market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global master recharge API market includes the following segments:

By Recharge Type

  • Prepaid Mobile Recharge
  • Postpaid Mobile Recharge
  • Data Card
  • DTH
  • Electricity
  • Insurance
  • Others

By Portal Type

  • Mobile Recharge
  • White Label Application
  • B2B and B2C Recharge Software
  • Others

Growth Drivers

  • Growing Proliferation of Smartphone Users Globally
  • Increasing Adoption of Online Payment Techniques

Challenges

  • Dearth of Awareness about Master Recharge API in Lower Economic Regions

Top Featured Companies Dominating the Market

  • Cyrus Technoedge Solutions Pvt. Ltd.
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis 
  • Axis Softech Pvt Ltd.
  • Crowdfinch Cybernetics Private Limited
  • Euronet Worldwide, Inc.
  • Indian Web Technologies Pvt. Ltd.
  • My Recharge Pvt. Ltd.
  • Pixyrs Softech & Research Pvt. Ltd.
  • Pointer Soft Technologies Pvt. Ltd.
  • Ezetop Unlimited Company
  • CyberPlat India Pvt Ltd.

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