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Mobile Wallet Market by Type, Technology, End User and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2020-2027

  • ID: 5118741
  • Report
  • April 2020
  • Region: Global
  • 316 Pages
  • Allied Analytics LLP
UP TO OFF until May 20th 2022

FEATURED COMPANIES

  • Alipay.com
  • Amazon Web Services Inc.
  • Apple Inc.
  • AT&T Inc.
  • Google Inc.
  • Mastercard Incorporated
The mobile wallet provides a convenient solution for any business that allows customers to purchase their products online with greater ease, therefore driving sales. As mobile use grows rapidly, users begin to go online more often via mobile and even shop via mobile. With the mobile wallet, it is possible to hold all the items that a physical wallet would carry on the mobile device.

A mobile wallet is a virtual wallet payment service acronym as mWallet, digital wallet, or eWallet. It is a mobile technology that makes in-store payments conveniently and is also used by merchants by listing to its desired mobile wallet service provider. In simple terms, a mobile wallet is an application that allows it users to send and receive money from its mobile device. It is a form of a mobile-commerce model designed for the convenience and ease of access to a user’s payment services.

The mobile wallet market has evolved as a result of advancements in the mobile phone technology and is expected to grow exponentially in near future, favored by continuous R&D in the smartphone technology and lowering security concerns. The widespread smartphone adoption in the developed markets and its increasing penetration levels in the developing markets are influencing the growth of the mobile wallet market positively. Increase in awareness levels, the ubiquity of mobile phones, and advancements in the mobile phone technology drive the growth of the market in the coming years. In addition, the crucial drivers for this market are availability of user-friendly technologies and related advancements, a rise in significance of social media and mobile data usage, increase in convenience factor, and high usage of mobile wallet functionalities (value-added services). However, factors such as high deployment costs, security concerns, and lack of awareness pertaining to mobile phone wallet technology may impede the growth of the stated market moderately. Furthermore, surge in adoption of near field communication technology by retailers and consumers is expected to propel the growth of the mobile wallet market.

The global mobile wallet market is segmented into type, technology, end user, industry vertical, and region. Depending on type, the market is bifurcated into proximity and remote. On the basis of technology, it is classified into near field communication, QR code, text based/short message service, and digital only. By end user, the market is categorized into personal and business. By industry vertical, the market is divided into hospitality & transportation, media & entertainment, retail, healthcare, energy & utilities, telecommunication, and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The report analyzes the profiles of key players operating in the global mobile wallet market, which include Amazon Web Services Inc., American Express Banking Corp., Apple Inc., Alipay.com, AT&T Inc., Google Inc., Mastercard Incorporated, PayPal Holdings, Inc., Samsung Electronics Co., Ltd, and VISA Inc. These major players have adopted various key development strategies such as business expansion, new product launches, and others, which helped drive the growth of the global mobile wallet market.

KEY BENEFITS FOR STAKEHOLDERS
  • The study provides an in-depth analysis of the current & future trends of the market to elucidate the imminent investment pockets.
  • Information about key drivers, restraints, and opportunities and their impact analysis on the global mobile wallet market share is provided.
  • Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the global mobile wallet industry.
  • The quantitative analysis of the market from 2019 to 2027 is provided to determine the global mobile wallet market potential.

KEY MARKET SEGMENTS

By Type
  • Proximity
  • Remote

By Technology
  • Near Field Communication
  • QR Code
  • Text based/Short message service
  • Digital Only

By Industry Vertical
  • Hospitality & Transportation
  • Media & Entertainment
  • Retail
  • Healthcare
  • Energy & Utilities
  • Telecommunication
  • Others

By End User
  • Personal
  • Business

By Region
  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • France
  • UK
  • Rest of Europe
  • Asia-Pacific
  • Japan
  • China
  • India
  • Rest of Asia-Pacific
  • LAMEA
  • Latin America
  • Middle East
  • Africa

KEY MARKET PLAYERS
  • Amazon Web Services Inc.
  • American Express Banking Corp.
  • Apple Inc.
  • Alipay.com
  • AT&T Inc.
  • Google Inc.
  • Mastercard Incorporated
  • PayPal Holdings, Inc.
  • Samsung Electronics Co., Ltd
  • VISA Inc.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Alipay.com
  • Amazon Web Services Inc.
  • Apple Inc.
  • AT&T Inc.
  • Google Inc.
  • Mastercard Incorporated

Chapter 1: Introduction
1.1. Report Description
1.2. Research Methodology
1.2.1. Secondary Research
1.2.2. Primary Research
1.2.3. Analyst Tools & Models
Chapter 2: Executive Summary
2.1. Key Findings
2.1.1. Top Impacting Factors
2.1.2. Top Investment Pockets
2.2. Cxo Perspective
Chapter 3: Market Overview
3.1. Market Definition and Scope
3.2. Porter’S Five Forces Analysis
3.2.1. Moderate -To-High Bargaining Power of Suppliers
3.2.2. Low-To-High Bargaining Power of Buyers
3.2.3. Low-To-High Threat of Substitutes
3.2.4. Low Threat of New Entrants
3.2.5. Low-To-High Competitive Rivalry
3.3. Market Dynamics
3.3.1. Drivers
3.3.1.1. Soar in Number of Mobile Subscribers Across the Globe
3.3.1.2. Increase in Government Initiatives to Encourage Cashless Economy
3.3.1.3. Rise in the Adoption of Mobile Wallet as a Digital Payment-Based Business Models Among Digital Applicationss
3.3.2. Restraint
3.3.2.1. Concerns Associated With Fraudulence Transactions and Data Security
3.3.3. Opportunities
3.3.3.1. Increase in Mobile Point of Sale (Pos) Devices and Nfc-Enabled Handset
3.3.3.2. Mobile Banking and Inventive Mobile Payment Application
3.4. Market Evolution/ Industry Roadmap
3.4.1. Online Acceptance Models
3.4.2. Reducing Friction
3.4.3. Acceptance of Mobile Wallets
3.5. Impact of Government Regulations on the Global Mobile Wallet Market
3.5.1. North America
3.5.2. Europe
3.5.3. Asia-Pacific
3.5.4. LAMEA
Chapter 4: Mobile Wallet Market, by Type
4.1. Overview
4.2. Proximity
4.2.1. Key Market Trends, Growth Factors, and Opportunities
4.2.2. Market Size and Forecast, by Region
4.2.3. Market Analysis, by Country
4.3. Remote
4.3.1. Key Market Trends, Growth Factors, and Opportunities
4.3.2. Market Size and Forecast, by Region
4.3.3. Market Analysis, by Country
Chapter 5: Mobile Wallet Market, by Technology
5.1. Overview
5.2. Near Field Communication
5.2.1. Key Market Trends, Growth Factors, and Opportunities
5.2.2. Market Size and Forecast, by Region
5.2.3. Market Analysis, by Country
5.3. Qr Code
5.3.1. Key Market Trends, Growth Factors, and Opportunities
5.3.2. Market Size and Forecast, by Region
5.3.3. Market Analysis, by Country
5.4. Text Based/ Short Message Service
5.4.1. Key Market Trends, Growth Factors, and Opportunities
5.4.2. Market Size and Forecast, by Region
5.4.3. Market Analysis, by Country
5.5. Digital Only
5.5.1. Key Market Trends, Growth Factors, and Opportunities
5.5.2. Market Size and Forecast, by Region
5.5.3. Market Analysis, by Country
Chapter 6: Mobile Wallet Market, by Applications
6.1. Overview
6.2. Hospitality & Transportation
6.2.1. Key Market Trends, Growth Factors, and Opportunities
6.2.2. Market Size and Forecast, by Region
6.2.3. Market Analysis, by Country
6.3. Media & Entertainment
6.3.1. Key Market Trends, Growth Factors, and Opportunities
6.3.2. Market Size and Forecast, by Region
6.3.3. Market Analysis, by Country
6.4. Retail
6.4.1. Key Market Trends, Growth Factors, and Opportunities
6.4.2. Market Size and Forecast, by Region
6.4.3. Market Analysis, by Country
6.5. Healthcare
6.5.1. Key Market Trends, Growth Factors, and Opportunities
6.5.2. Market Size and Forecast, by Region
6.5.3. Market Analysis, by Country
6.6. Energy & Utilities
6.6.1. Key Market Trends, Growth Factors, and Opportunities
6.6.2. Market Size and Forecast, by Region
6.6.3. Market Analysis, by Country
6.7. Telecommunication
6.7.1. Key Market Trends, Growth Factors, and Opportunities
6.7.2. Market Size and Forecast, by Region
6.7.3. Market Analysis, by Country
6.8. Others
6.8.1. Key Market Trends, Growth Factors, and Opportunities
6.8.2. Market Size and Forecast, by Region
6.8.3. Market Analysis, by Country
Chapter 7: Mobile Wallet Market, by End-user
7.1. Overview
7.2. Personal
7.2.1. Key Market Trends, Growth Factors, and Opportunities
7.2.2. Market Size and Forecast, by Region
7.2.3. Market Analysis, by Country
7.3. Business
7.3.1. Key Market Trends, Growth Factors, and Opportunities
7.3.2. Market Size and Forecast, by Region
7.3.3. Market Analysis, by Country
Chapter 8: Mobile Wallet Market, by Region
8.1. Overview
8.2. North America
8.2.1. Key Market Trends, Growth Factors and Opportunities
8.2.2. Market Size and Forecast, by Technology
8.2.3. Market Size and Forecast, by Type
8.2.4. Market Size and Forecast, by Applications
8.2.5. Market Size and Forecast, by End-user
8.2.6. Market Analysis by Country
8.2.6.1. U. S.
8.2.6.1.1. Market Size and Forecast, by Technology
8.2.6.1.2. Market Size and Forecast, by Type
8.2.6.1.3. Market Size and Forecast, by Applications
8.2.6.1.4. Market Size and Forecast, by End-user
8.2.6.2. Canada
8.2.6.2.1. Market Size and Forecast, by Technology
8.2.6.2.2. Market Size and Forecast, by Type
8.2.6.2.3. Market Size and Forecast, by Applications
8.2.6.2.4. Market Size and Forecast, by End-user
8.3. Europe
8.3.1. Key Market Trends, Growth Factors and Opportunities
8.3.2. Market Size and Forecast, by Technology
8.3.3. Market Size and Forecast, by Type
8.3.4. Market Size and Forecast, by Applications
8.3.5. Market Size and Forecast, by End-user
8.3.6. Market Analysis by Country
8.3.6.1. Germany
8.3.6.1.1. Market Size and Forecast, by Technology
8.3.6.1.2. Market Size and Forecast, by Type
8.3.6.1.3. Market Size and Forecast, by Applications
8.3.6.1.4. Market Size and Forecast, by End-user
8.3.6.2. France
8.3.6.2.1. Market Size and Forecast, by Technology
8.3.6.2.2. Market Size and Forecast, by Type
8.3.6.2.3. Market Size and Forecast, by Applications
8.3.6.2.4. Market Size and Forecast, by End-user
8.3.6.3. UK
8.3.6.3.1. Market Size and Forecast, by Technology
8.3.6.3.2. Market Size and Forecast, by Type
8.3.6.3.3. Market Size and Forecast, by Applications
8.3.6.3.4. Market Size and Forecast, by End-user
8.3.6.4. Spain
8.3.6.4.1. Market Size and Forecast, by Technology
8.3.6.4.2. Market Size and Forecast, by Type
8.3.6.4.3. Market Size and Forecast, by Applications
8.3.6.4.4. Market Size and Forecast, by End-user
8.3.6.5. Italy
8.3.6.5.1. Market Size and Forecast, by Technology
8.3.6.5.2. Market Size and Forecast, by Type
8.3.6.5.3. Market Size and Forecast, by Applications
8.3.6.5.4. Market Size and Forecast, by End-user
8.3.6.6. Rest of Europe
8.3.6.6.1. Market Size and Forecast, by Technology
8.3.6.6.2. Market Size and Forecast, by Type
8.3.6.6.3. Market Size and Forecast, by Applications
8.3.6.6.4. Market Size and Forecast, by End-user
8.4. Asia-Pacific
8.4.1. Key Market Trends, Growth Factors and Opportunities
8.4.2. Market Size and Forecast, by Technology
8.4.3. Market Size and Forecast, by Type
8.4.4. Market Size and Forecast, by Applications
8.4.5. Market Size and Forecast, by End-user
8.4.6. Market Analysis by Country
8.4.6.1. Japan
8.4.6.1.1. Market Size and Forecast, by Technology
8.4.6.1.2. Market Size and Forecast, by Type
8.4.6.1.3. Market Size and Forecast, by Applications
8.4.6.1.4. Market Size and Forecast, by End-user
8.4.6.2. China
8.4.6.2.1. Market Size and Forecast, by Technology
8.4.6.2.2. Market Size and Forecast, by Type
8.4.6.2.3. Market Size and Forecast, by Applications
8.4.6.2.4. Market Size and Forecast, by End-user
8.4.6.3. Australia
8.4.6.3.1. Market Size and Forecast, by Technology
8.4.6.3.2. Market Size and Forecast, by Type
8.4.6.3.3. Market Size and Forecast, by Applications
8.4.6.3.4. Market Size and Forecast, by End-user
8.4.6.4. India
8.4.6.4.1. Market Size and Forecast, by Technology
8.4.6.4.2. Market Size and Forecast, by Type
8.4.6.4.3. Market Size and Forecast, by Applications
8.4.6.4.4. Market Size and Forecast, by End-user
8.4.6.5. South Korea
8.4.6.5.1. Market Size and Forecast, by Technology
8.4.6.5.2. Market Size and Forecast, by Type
8.4.6.5.3. Market Size and Forecast, by Applications
8.4.6.5.4. Market Size and Forecast, by End-user
8.4.6.6. Rest of Asia-Pacific
8.4.6.6.1. Market Size and Forecast, by Technology
8.4.6.6.2. Market Size and Forecast, by Type
8.4.6.6.3. Market Size and Forecast, by Applications
8.4.6.6.4. Market Size and Forecast, by End-user
8.5. LAMEA
8.5.1. Key Market Trends, Growth Factors and Opportunities
8.5.2. Market Size and Forecast, by Technology
8.5.3. Market Size and Forecast, by Type
8.5.4. Market Size and Forecast, by Applications
8.5.5. Market Size and Forecast, by End-user
8.5.6. Market Analysis by Country
8.5.6.1. Latin America
8.5.6.1.1. Market Size and Forecast, by Technology
8.5.6.1.2. Market Size and Forecast, by Type
8.5.6.1.3. Market Size and Forecast, by Applications
8.5.6.1.4. Market Size and Forecast, by End-user
8.5.6.2. Middle East
8.5.6.2.1. Market Size and Forecast, by Technology
8.5.6.2.2. Market Size and Forecast, by Type
8.5.6.2.3. Market Size and Forecast, by Applications
8.5.6.2.4. Market Size and Forecast, by End-user
8.5.6.3. Africa
8.5.6.3.1. Market Size and Forecast, by Technology
8.5.6.3.2. Market Size and Forecast, by Type
8.5.6.3.3. Market Size and Forecast, by Applications
8.5.6.3.4. Market Size and Forecast, by End-user
Chapter 9: Competitive Landscape
9.1. Key Player Positioning Analysis, 2019
9.2. Top Winning Strategies
9.3. Competitive Dashboard
9.4. Key Developments
9.4.1. New Type Launches
9.4.2. Product Development
9.4.3. Collaboration
9.4.4. Acquisition
9.4.5. Partnership
9.4.6. Business Expansion
Chapter 10: Company Profiles
10.1. Alipay. Com
10.1.1. Company Overview
10.1.2. Key Executives
10.1.3. Company Snapshot
10.1.4. Operating Business Segments
10.1.5. Product Portfolio
10.1.6. Business Performance
10.1.7. Key Strategic Moves and Developments
10.2. Amazon. Com Inc.
10.2.1. Company Overview
10.2.2. Key Executives
10.2.3. Company Snapshot
10.2.4. Operating Business Segments
10.2.5. Product Portfolio
10.2.6. Business Performance
10.2.7. Key Strategic Moves and Developments
10.3. American Express Company
10.3.1. Company Overview
10.3.2. Key Executives
10.3.3. Company Snapshot
10.3.4. Operating Business Segments
10.3.5. Product Portfolio
10.3.6. Business Performance
10.3.7. Key Strategic Moves and Developments
10.4. Apple Inc.
10.4.1. Company Overview
10.4.2. Key Executives
10.4.3. Company Snapshot
10.4.4. Operating Business Segments
10.4.5. Product Portfolio
10.4.6. R&D Expenditure
10.4.7. Business Performance
10.4.8. Key Strategic Moves and Developments
10.5. At&T Inc.
10.5.1. Company Overview
10.5.2. Key Executives
10.5.3. Company Snapshot
10.5.4. Operating Business Segments
10.5.5. Product Portfolio
10.5.6. R&D Expenditure
10.5.7. Business Performance
10.5.8. Key Strategic Moves and Developments
10.6. Google LLC
10.6.1. Company Overview
10.6.2. Key Executives
10.6.3. Company Snapshot
10.6.4. Operating Business Segments
10.6.5. Product Portfolio
10.6.6. R&D Expenditure
10.6.7. Business Performance
10.6.8. Key Strategic Moves and Developments
10.7. Mastercard
10.7.1. Company Overview
10.7.2. Key Executives
10.7.3. Company Snapshot
10.7.4. Product Portfolio
10.7.5. Business Performance
10.7.6. Key Strategic Moves and Developments
10.8. Paypal Holdings, Inc.
10.8.1. Company Overview
10.8.2. Key Executives
10.8.3. Company Snapshot
10.8.4. Product Portfolio
10.8.5. R&D Expenditure
10.8.6. Business Performance
10.8.7. Key Strategic Moves and Developments
10.9. Samsung Electronics Co. Ltd.
10.9.1. Company Overview
10.9.2. Key Executives
10.9.3. Company Snapshot
10.9.4. Operating Business Segments
10.9.5. Product Portfolio
10.9.6. R&D Expenditure
10.9.7. Business Performance
10.9.8. Key Strategic Moves and Developments
10.10. Visa Inc.
10.10.1. Company Overview
10.10.2. Key Executives
10.10.3. Company Snapshot
10.10.4. Product Portfolio
10.10.5. Business Performance
10.10.6. Key Strategic Moves and Developments
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Alipay.com
  • Amazon Web Services Inc.
  • Apple Inc.
  • AT&T Inc.
  • Google Inc.
  • Mastercard Incorporated
According to the report titled, 'Mobile Wallet Market by Type, Technology, End User, and Industry Vertical: Opportunity Analysis and Industry Forecast, 2020-2027', the mobile wallet market size was valued at $1,043.1 billion in 2019, and is projected to reach $7,580.1 billion by 2027, growing at a CAGR of 28.2% from 2020 to 2027. Asia-Pacific dominates the global market in 2019 owing to the high number downloads of mobile wallet application in countries such as the Japan, India and China. Moreover, the North America market is expected to exhibit a faster growth in terms of revenue during the forecast period.

Mobile wallet is an on-going popular trend and has revolutionized the concept of universal commerce. Consumers are always pleased for getting an integrated buying experience that is fast, secure, consistent service that is available at any location, anytime, and via any device. This is what mobile wallet has given to its consumers with additional benefits of track records. Also, the mobile wallet promoters state that a mobile wallet is more advantageous than cash, check, or card payment counter parts as it facilitates an all-in-one payment solution for consumers; they do not haveto carry paper or plastic for payment. This is a major factor that drives the global mobile wallet market growth during the forecast period.

Moreover, mobile wallets provide easy and personalized shopping experiences to its consumers by storing locations and purchase history in the cloud, with its smart location tracking feature. In addition, it is also equipping vendors / retailers with the chances to promote their products / services effectively and enhances the loyalty factor, which in turn has proliferated the adoption of mobile wallet among retailers across the globe, which in turn has supported the growth of the mobile walletmarket.

By type, the remote payment method dominates themobile wallet market share in 2019. This is attributed to significant reach of the remote payment methods and relative infancy of Near Field Communication (NFC) technology. The number of consumers using their tablets and smartphones as their regular Internet gadget is increasing tremendously. In addition, a mobile wallet supporting remote payment transactions allows unbanked / under-banked consumers to make use of mobile commerce through their mobile computing devices.

Key Findings Of The Study

By type, the remote segment dominated the mobile wallet market trends. However, the proximity segment is expected to exhibit significant growth during the forecast period.
By technology, the QR code segment dominated the mobile wallet market share in 2019. However, the near field communication segment is expected to exhibit significant growth during the forecast period.
By applications, the retail segment dominated the mobile wallet market revenue in 2019. However, the media & entertainment segment is expected to exhibit significant growth during the forecast period.
By end user, the personal segment dominated the market. However, the business segment is expected to exhibit significant growth during the forecast period in the industry.
Region wise, Asia-Pacific dominated the market in 2019. Whereas, North America is expected to witness significant growth in terms of revenue in the coming years.

Some of the key market players profiled in the mobile walletmarket analysis include Amazon Web Services Inc., American Express Banking Corp., Apple Inc., Alipay.com, AT&T Inc., Google Inc., Mastercard Incorporated, PayPal Holdings, Inc., Samsung Electronics Co., Ltd, and VISA Inc. Major players operating in this market have witnessed significant adoption of strategies that include business expansion and partnership to reduce supply and demand gap. With increase in digitalization initiatives and industry revolution across the globe, major players have collaborated their product portfolio to provide differentiated and innovative products. This study includes market analysis, trends, and future estimations to determine the imminent investment pockets.
Note: Product cover images may vary from those shown
  • Amazon Web Services Inc.
  • American Express Banking Corp.
  • Apple Inc.
  • Alipay.com
  • AT&T Inc.
  • Google Inc.
  • Mastercard Incorporated
  • PayPal Holdings Inc.
  • Samsung Electronics Co. Ltd
  • VISA In
Note: Product cover images may vary from those shown

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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