Boost in Mobile Payment Users Skip to main content

Gartner Forecasts Security and Risk Management Spending in India to Grow 12% in 2024

  GenAI-Driven Attacks Require Changes to Application and Data Security Practices and User Monitoring End-user spending on security and risk management (SRM) in India is forecast to total $2.9 billion in 2024, an increase of 12.4% from 2023, according to a new forecast from Gartner, Inc. Indian organizations will continue to increase their security spending through 2024 due to legacy IT modernization using cloud technology, industry demand for digital platforms, updated regulatory environment, and continuous remote/hybrid work. “In 2024, chief information and security officers (CISOs) in India will prioritize their spending on SRM to improve organizational resilience and compliance,” said  Shailendra Upadhyay , Sr Principal at Gartner. “With the introduction of stringent government measures mandating security breach reporting and digital  data protection , CISOs are facing heightened responsibility in safeguarding critical assets against evolving cyber threats.” Gartner a...
Post a Comment

Boost in Mobile Payment Users

Details
Published on Thursday, 31 May 2012 07:27
 

Worldwide mobile payment transaction values will surpass US$171.5 billion in 2012, says market analyst Gartner. The number of mobile payment users will reach 212.2 million this year. "The mobile transaction volume and value will average 42 percent annual growth between 2011 and 2016. We are forecasting a market worth $617 billion with 448 million users by 2016," says Sandy Shen, research director at Gartner.

 

"This will bring opportunities for service and solution providers to customise their offerings. The mobile payments market will experience fragmented services and solutions for the next two years." Technology providers will have to cater their solutions to the local market that will be using different access technologies, business models and under different regulatory conditions.

 

However, there will be segments that cannot be served by the global players. The demand of these segments can be met by specialised or local players who can understand the segment and have solutions to meet the challenges. SMS remains the dominant access technology in developing markets because of the constraints of mobile devices and the ubiquity of SMS.

 

Web/WAP is the preferred access technology in North America and Western Europe where mobile Internet is activated on user devices. Gartner expects Web/WAP access to account for 88 percent of transactions in North America and 80 percent in Western Europe by 2016. Near Field Communication (NFC) transactions will remain low through 2015, although growth will start to pick up from 2016.

 

"NFC payment involves a change in user behavior and requires collaboration among stakeholders that includes banks, mobile carriers, card networks and merchants," explains Shen. "It takes time for both to happen, so we don't expect NFC payments to come into the mass market before 2015. In the meantime, ticketing, rather than retail payment, will drive NFC transactions." Merchandise purchases will drive transactions in North America and Western Europe. These will include e-commerce purchases where users buy online, as well as in-store purchases.

------Gartner

Comments

Post a Comment

Popular posts from this blog

Mobile Phones Sales Plummet

Details Published on Thursday, 16 August 2012 06:34 Worldwide sales of mobile phones reached 419 million units in the second quarter of 2012, a 2.3 percent decline from the second quarter of 2011, according to Gartner. Smartphone sales accounted for 36.7 percent of total mobile phone sales and grew 42.7 percent in the second quarter of 2012. "Demand slowed further in the second quarter of 2012," says Anshul Gupta, principal research analyst at Gartner. "The challenging economic environment and users postponing upgrades to take advantage of high-profile device launches and promotions available later in the year slowed demand across markets. Demand of feature phones continued to decline, weakening the overall mobile phone market. "High-profile smartphone launches from key manufacturers such as the anticipated Apple iPhone 5, along with Chinese manufacturers pushing 3G and preparing for major device launches in the second half of 2012, will drive the smartpho...
257 comments
Read more

Now facebook hit with international class action privacy suit

An Austrian privacy activist has launched a wide-reaching class action suit against Facebook Ireland for breaching European data protection law. Anyone outside of the US and Canada can join activist and law student Max Schrems' suit via the website fbclaim.com, since they will have signed up to Facebook's terms and conditions via the Dublin-based European subsidiary. That amounts to around 82 percent of all Facebook users. After being live for just one hour, the site has collected 100 participants. The suit is seeking damages of €500 ($537) per user, and injunctions to be levied on the company for the following breaches:     Failing to get "effective consent" for using data     Implementing a legally invalid data use policy     Tracking users online outside of Facebook via "Like" buttons     Using big data to monitor users     Failing to make Graph Search opt-in     The unauthorized passing of use...
1 comment
Read more

Board Directors Prioritise IT

Details Published on Wednesday, 25 July 2012 07:25 Board directors are prioritizing customers, core competencies and competitive advantage, according to Gartner-Forbes 2012  survey. They are willing to invest in IT as a means to change the rules of competition. Also, they have IT as the highest priority for investment in 2012, tied with investments in sales. "Board directors clearly have a top priority to invest in IT and leverage IT for competitive advantage," says Jorge Lopez, vice president at Gartner. "These forward-looking attitudes are being made although more than half of the survey respondents replied they are preparing for a market recession. It underlines the fact that investments they plan to make are essential to growth and even survival, and they are willing to throw the investment gauntlet down now, rather than later." The priorities of the board directors are directly centered on customers, building better ways to drive the business forwa...
Post a Comment
Read more