Report Scope
This report analyzes the global mobile wallet market in terms of application, end-use, and geography. On the basis of application, the market is segmented into mobile commerce, money transfer, mobile recharge, utility and bill payments, and other applications. Similarly, on the basis of end-use, the global mobile wallet market is further classified into retail, transportation, restaurants, utilities, and telecom among others. The geographical distribution of the global mobile wallet market considered in this study encompasses regional markets such as the Americas, Europe, the Middle East and Africa, and the Asia Pacific.
Overview:
With the flourishing m-commerce industry, there has been a significant rise in mobile shopping and mobile banking activities. The flourishing m-commerce industry paired with the proliferation of smartphones and Internet penetration is driving the mobile wallet market worldwide. In addition, the advancements in technology have led to increasing in the number of smartphones supporting contactless payment technologies like near-field communication (NFC). This, in turn, is favoring market demand. These factors are expected to contribute towards a double-digit compounded annual growth rate (CAGR) during the forecast period 2020 - 2028.
Purpose of the Report
The purpose of this strategic research study titled “Mobile Wallet Market - Growth, Share, Opportunities, and Competitive Analysis, 2020 - 2028” is to offer industry investors, company executives, and industry participants with in-depth insights to enable them to make informed strategic decisions related to the opportunities in the global payments industry.
Target Audience
- Industry Investors
- Mobile Wallet Technology Developers
- Mobile Network Operators (MNO)
- Value-Added Resellers
- Banks and Financial Institutions
- Retailers and Merchants
- Other End-users
USP and Key Offerings
The report titled “Global Mobile Wallet Market - Growth, Share, Opportunities, and Competitive Analysis, 2020 - 2028” offers strategic insights into the global mobile wallet market along with the market size and estimates for the duration 2018 to 2028. The said research study covers in-depth analysis of multiple market segments based on application, end-use, and cross-sectional study across different geographies. In order to help strategic decision-makers, the report also includes competitive profiling of the key industry participants, their SCOT (Strength, Challenges, Opportunities, and Weaknesses) analysis, market positioning, and recent developments.
Other in-depth analysis provided in the report includes:
- An overview of the global mobile wallet market
- Current and future market trends to justify the forthcoming attractive sub-markets within the global payments industry
- Qualitative assessment tools such as market drivers, challenges and future prospects, value chain, and attractive investment proposition.
- Focus on each level of market segmentation based on product approvals, launch, and current and anticipated market dynamics.
- A general overview of the industry structure
- Company profiles highlighting key information about the major players operating in the global mobile wallet market
- Market competition scrutiny tools such as market share analysis, fractal map, etc.
- SRC (Segment-Region-Country) Analysis
Overall, the research study provides a holistic view of the global mobile wallet market, offering market size and estimates for the period from 2018 to 2028, keeping in mind the above-mentioned factors.
On the basis of application, the mobile wallet market is categorized into the following segments:
- Mobile Commerce
- Money Transfer
- Mobile Recharge
- Utility and Bill Payments
- Other Applications
Mobile commerce and money transfer were the two leading application segments in the global mobile wallet market in 2019. The segments collectively accounted for over 60% of the global market revenue in the same year. The trend shall continue and the mobile commerce segment is presumed to retain its leading position throughout the forecast period 2020 - 2028. The proliferation in the e-commerce sector is expected to positively influence the growth of the mobile commerce segment during the forecast period. Looking at the bright prospects, telecom service providers would offer the necessary infrastructure support to mobile wallet vendors required for building robust m-commerce platforms. Thus, inflow of investments in social media and m-commerce is also expected to have a positive impact on the overall demand in this segment.
On the basis of end-use, the mobile wallet market is categorized into the following segments:
- Retail
- Transportation
- Restaurants
- Utilities
- Telecom
- Others
As of 2019, retail was the largest end-use segment in the global mobile wallet market in terms of both revenue and number of transactions. The segment accounted for over 40% of the global market revenue in the same year. The trend shall prolong and the segment is presumed to hold on to its dominant position throughout the forecast period 2020 - 2028. The retail sector, which currently boasts of the highest penetration rate, is a key segment for vendors and mobile operators. As the technology matures, more retailers are expected to adopt the technology for effective and easy payment procedure. In addition, the growing number of POS terminals with NFC capabilities is further expected to fuel adoption of the mobile wallet technology among retailers. Other application segments including transportation and telecoms are also expected to witness robust growth during the forecast period 2020 -2028.
On the basis of geography, the global mobile wallet market is segmented into the following regions and countries.
- North America
- U.S.
- Canada
- Europe
- U.K.
- France
- Germany
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Rest of Asia Pacific
- Rest of the World (RoW)
- Latin America
- Middle East and Africa
In 2019, Asia Pacific was the largest mobile wallet market in terms of both revenue and number of transactions followed by Europe and North America. In 2019, the region accounted for over 30% of the global market revenue. The region is house to a large number of smartphone users who are increasingly making use of mobile wallets. In addition, with growing integration between mobile wallet provides with local transportation, utility, and telecom companies, Asia Pacific is expected to continue to grow at an increasing rate during the forecast period from 2020 to 2028.
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Table of Contents
Companies Mentioned
- Apple Inc. (the U.S.) Google Inc. (the U.S.)
- PayPal Holdings Inc. (the U.S.)
- Visa Inc. (the U.S.). Other players including BlackBerry Ltd.
- MasterCard Inc.
- First Data Corporation
- The American Express Company
- AT&T Inc.
- Citrus Payment Solutions
- ZipCash
- ZipPay
