The report on global mobile wallet market provides qualitative and quantitative analysis for the period of 2017 to 2023. According to report the global mobile wallet market is expected to grow at a CAGR of 32.2% over the forecast period of 2017 - 2023. The global mobile wallet market was valued at approximately USD 594.00 billion in 2017 and is expected to reach approximately USD X.X billion by 2023.
Figure: Global Mobile Wallet Market by Value 2015 - 2023
The report identified that global mobile wallet is driven by factors such as high transaction volumes through m-commerce, growing use of smartphone users, and, high Internet penetration worldwide. While the restraining factors include the growth of the mobile wallet industry, and investment and deployment issues. Further, the report identifies the opportunities in the world market as customer communications highly personalized, and connected and real-time marketing offers.
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. Growing number of tablet computer and smartphone users has significantly created the platform for the 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, increasing number of smartphone users and customer shift towards electronic money. However, the growth in global mobile wallet market is likely to be hampered by factors such as Security concerns among consumers 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 mobile wallet. Several international as well as domestic players operate in this market across countries in the world; however large players such as PayPal, Visa and master card hold a significant market share in the global mobile wallet market.
The report on global mobile wallet market covers segments such as application, mode of payment and stakeholders. The application segments include mobile commerce, mobile ticketing, mobile coupons, mobile transfer, and micropayments. On the basis of mode of payment, the global mobile wallet market is categorized into remote payment and NFC payment. The NFC market is further sub-segmented into NFC handsets, NFC chips and tags, NFC readers, NFC micro SD, and NFC SIM/UICC card. The global mobile wallet market stakeholders encompass mobile network operators (MNOS), handset manufacturers, OSS/BSS solution providers, software developers, content applications and aggregators, and other stakeholders.
Geographic Coverage and Analysis:
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section the key trends and Market size for each geography is provided over the period of 2017 – 2023.
North America prevails over another region on account of its shift towards the digital economy. Europe is also showing robust growth rate, followed by Asia pacific. Asian countries show high growth potential due to the adoption of smartphones.
The report provides profiles of the companies in the global mobile wallet market such as, American Express, AppleInc., AT&T INC.,Blackberry Ltd., First Data Corporation, Google Inc., Sprint Corporation, Samsung Electronics Co. Ltd., MasterCard Incorporated, and Visa Inc..
The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the global mobile wallet market. Moreover, IGR-growth matrix analysis given in the report brings an insight on 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 mobile wallet market. Moreover, the study highlights current market trends and provides forecast from 2017 to 2023. We also have highlighted future trends in the mobile wallet market that will impact the demand during the forecast period.
Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. Additionally, the analysis highlights rise and fall in the market shares of the key players in the market. This report will help manufacturers, suppliers and distributors of the mobile wallet market to understand the present and future trends in this market and formulate their strategies accordingly.
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