A recent report published by Infinium Global Research on mobile wallet market provides in-depth analysis of segments and sub-segments in the global as well as regional mobile wallet market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional mobile wallet market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global mobile wallet market. According to the report, the global mobile wallet market is projected to grow at a CAGR of 34.1% over the forecast period of 2019-2025.
The mobile wallet is a type of payment service by which anyone can receive and send money via mobile devices. A mobile wallet is a form of e-commerce model that is made to be used with mobile devices and offers convenience and easy access. It provides service of the online transaction for every single operation in a routine. Mobile wallet offers various facilities such as debit, credit and online transaction from a bank account. A growing number of tablet computer and smartphone users has significantly created the platform for mobile wallet companies to penetrate the global market
The global mobile wallet market is expected to be primarily driven by factors such as trending offers and promotional activities by market players. Furthermore, an increasing number of Smartphone users and customer shift towards electronic money are anticipated to boost the demand for mobile wallets worldwide. Additionally, as high transaction volumes through m-commerce are contributing to the growth of the mobile wallet market. However, the growth in global mobile wallet market is likely to be hampered by factors such as Security concerns among consumers, the lack of awareness in emerging markets and government support for cashless transactions and electronic money to encourage the transparency of financial transactions is augmenting the market size of the mobile wallet. Moreover, the mobile wallet makes customer communications highly personalized, and connected and real-time marketing offers that is projected to create several opportunities in this market during the forecast year
Among the geographies, North America holds the maximum market shares in the mobile wallet market followed by Europe. The growing shift towards the digital economy and high Internet penetration are the key factors that drive the growth of North America mobile wallet market. Europe is also showing a robust growth rate, followed by The Asia Pacific. The Asia Pacific is the fastest growing region in the mobile wallet market. The counties in this region show high growth potential due to the adoption of smartphones and growing preference for the online transactions
The report on the global mobile wallet market covers segments such as mode of payment, stakeholders, and application. On the basis of mode of payment, the sub-markets include remote payment, and NFC payment. On the basis of stakeholders, the sub-markets include software developers and cloud computing, content and applications aggregators, mobile network operators (MNOS), handset and other hardware solution manufacturers, OSS/BSS solution providers, and other stakeholders. On the basis of application, the sub-markets include mobile commerce market, mobile ticketing market, mobile coupons market, mobile transfers market, and micropayments.
The report provides profiles of the companies in the market such as American Express Company, Apple Inc., AT&T Inc, BlackBerry Limited, First Data Corporation, Google Inc., Samsung Electronics Co., Ltd., MasterCard Incorporated, Visa Inc., Sprint Corporation, and Other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the mobile wallet market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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