India Mobile Wallet Market Analysis, Forecast & Opportunities, 2016-2022

  • ID: 3989824
  • Report
  • Region: India
  • 87 Pages
  • New Era MarketMonitor Consultancy
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The Market is Forecast to Reach USD 4.4 Billion by 2022, With a CAGR of Over 148% During 2017-22

India is one of the fastest growing economies of the world, with a vast population of over 1.30 billion people. India is the world’s youngest nation, with nearly 60% of population below 35 years. This young population enjoys high smartphone ownership and they tend to look for services that can ease their lifestyle.

India has already become world’s second biggest smartphone market after overtaking the United States. Apart from growing economy and population growth, India is also witnessing other trends, like surging internet penetration, rising smartphone ownership, modernisation of lifestyle due to urbanisation coupled with improvement in education level.

These trends make India a favourable market for multitude of products and services like mobile wallets.

According to the research report “India Mobile Wallet Market Analysis, Forecast & Opportunities, 2016-2022”, mobile wallet market registered whopping growth, with a CAGR of 48.85% during review period of 2012-16. The market advanced on the back of rising smartphone ownership, surging internet penetration, increasing disposable income and convenience associated with such services.

The market is forecast to gain immensely during forecast period of 2017-22, due to Government’s decision to demonetize INR 500 and INR 1000 currency notes and focus to make India a cashless and digital economy. This will help the industry and directly benefit companies like Paytm, FreeCharge, Oxigen and others.

In 2016, every category like money transfer, recharge, and utility bill payment recorded strong growth due to an array of benefits like cashback offers offered by these mobile wallet companies. Market also gained due to companies’ increased focus to promote the adoption of mobile wallets by all the players.

As far as competitive landscape is concerned, mobile wallet market is a fragmented market with tens of players, wherein top three players account for over 60% of the market in value terms. Besides, mobile wallet companies are offering wide range of offers, like discounts and cashback offers to promote mobile wallets’ usage for booking movie tickets, paying utility bills and booking air tickets.

This factor has also contributed towards increasing demand of mobile wallets in the country. And, the market is forecast to reach USD 4.4 billion by 2022, with a CAGR of over 148% during 2017-22.

As per Adarsh Raj: “India’s GDP per capita has tripled over the past decade, and World Bank suggests that at the current GDP per capita level, expenditure should accelerate from current levels, benefitting varieties of sectors, including mobile wallet market. Average households in urban as well as in rural areas have seen an upsurge in smartphone ownership and internet usage, following availability of low cost mobile phones, improvement in job prospects in metro tier II and tier III cities, increase in double income households and government’s effort to boost rural income. These positive factors are helping Indian consumers to adopt more mobile wallets.”

India Mobile wallet Market Analysis, Forecast and Opportunities, 2016-2022 elaborates the following aspects of market in the country:

  • India Mobile Wallet Market Size by Value, Share & Forecast
  • Segmental Analysis - By Category (Money Transfer, Recharge, Utility & Others ) By Company and By Region
  • India Macro Economic Analysis
  • Policy and Regulatory Landscape
  • Micro Market Trends & Developments
  • Competitive Landscape & Strategic Recommendations

Why You Should Buy This Report?

  • To have a comprehensive understanding of India mobile wallet market
  • To help mobile wallet companies in making informed decision through in-depth knowledge of the market size in value terms, macro drivers, challenges and on-going industry trends
  • To obtain competitive advantage over rivals
  • To add weight to presentations and marketing material
  • To avail 10% customization in the report without any extra charges and get research data or trends added in the report as per the buyer’s specific needs

Research Methodology:

We use primary and secondary sources to collect the information and validates them to present the 360 degree view of the industry.

Primary research includes interviews with Mobile wallet companies, investors and industry analysts while secondary research focuses on intensive and extensive search of relevant publications i.e. industry magazines, public and private institutions’ industry studies, company annual reports, and other proprietary databases.

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1. Product Overview

2. Research Methodology

3. Executive Summary

4. Global Mobile Wallet Market Overview

5. India Mobile Wallet Market Outlook
5.1. Market size and Forecast By Value
5.2. Market Share  and Forecast
5.2.1 By Service Type
5.2.2 By Company
5.2.3 By Region

6. India Mobile Wallet Money Transfer Market Outlook
6.1. Market size and Forecast By Value

7. India Mobile Wallet Recharge Market Outlook
7.1 Market size and Forecast By Value

8. India Mobile Wallet Utility Market Outlook
8.1. Market size and Forecast

9. India Mobile Wallet Others Market Outlook
9.1. Market size and Forecast

10. Market Dynamics
10.1. Drivers
10.2. Challenges

11. India Mobile Wallet Opportunities and Developments

12. India Mobile Wallet Policy and Regulatory Landscape

13. India Economic Profile
13.1. India Economic Profile
13.2. Economic Analysis

14. Competitive Landscape
14.1. One97 Communications Ltd. (PAYTM)
14.2. One Mobikwik Systems Pvt Ltd
14.3. Freecharge Payment Technologies Pvt. Ltd
14.4. Oxigen services (India) Pvt. Ltd
14.5. ItzCash Card Ltd

15. Strategic Recommendations

List of Figures
India Mobile Wallet Market Size, By Value (USD Million), 2012-2022F
India Smartphone Users, By Volume , Million (2012-2022F)
Growth (%) of Different Payment Methods Between 2014-2016
India Mobile Wallet Market Share, By Type, By Value, 2012-2022F
India Mobile Wallet Market Share, By Company, By Value, 2016-2022F
India Mobile Wallet Market Share, By Region, By Value, 2016-2022F
India Money Transfer Market Size, By Value (USD Million), 2012-2022F
India Internet Penetration, 2011-2016F
Mobile Wallet Recharge Market Size, By Value (USD Million), 2012-2022F
India Urbanisation Rate 2011-2016F
Mobile Wallet Utility Market Size, By Value (USD Million), 2012-2022F
India Number of Millionaires, Lakh, (2011-2018F)
Mobile Wallet Others Market Size, By Value (USD Million), 2012-2022F
India Disposable Income, USD (2011-2016E)
India Population, in Million (2011-2015)
India Demographic Distribution, 2015

List of Tables
West Region Population (Million), 2015
South Region Population (Million), 2015
North Region Population (Million), 2015
East Region Population (Million), 2015

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  • Freecharge Payment Technologies Pvt. Ltd
  • ItzCash Card Ltd
  • One Mobikwik Systems Pvt Ltd
  • One97 Communications Ltd. (PAYTM)
  • Oxigen services (India) Pvt. Ltd
Note: Product cover images may vary from those shown
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Primary and secondary sources are used to collect the information and are validated to present a 360 degree view of the industry. Primary research includes interviews with wearable devices companies, investors and industry analysts while secondary research focuses on intensive and extensive search of relevant publications i.e. industry magazines, public and private institutions’ industry studies, company annual reports, and other proprietary databases.

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Note: Product cover images may vary from those shown
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