Global Mobile Wallet Market is estimated to reach $5,795 Billion by 2024; growing at a CAGR of 37.5% from 2016 to 2024. Mobile wallet is a virtual form of debit card, credit card or prepaid card that are used for sending or receiving payments or other online transactions through mobile devices. It provides a substitute to plastic cards and eases the process of purchases. Mobile wallet eases the transactions and are used is various sectors including telecom, utilities, retail, transportation and others. Moreover, the demand for mobile wallet is driven by rising demand for near field communication (NFC) technology among consumers and retailers.
High demand for smartphones and internet, increasing digital marketing and growing popularity of e-commerce services are some of the factors supporting the growth of the global mobile wallet market. Though, lack of government restrictions and security and privacy related issues could hinder the growth of the market. Furthermore, untapped markets and advanced technologies could provide future scope for the market.
The global mobile wallet market categories into application, mode of payment, user age group, and geography. User age group is categorized into 18-29, 30-44, 45-59 and above 60. By mode of payment, the segment is categorized into NFU, SMS, WAP and others. Furthermore, application is bifurcated into money transfers, merchant purchases, bill payments and others.
Based on geography, global mobile wallet market is segmented into North America, Europe, Asia- Pacific, Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe segment consist of UK, Germany, France, Italy, and others. Asia-Pacific is segmented into India, China, Japan, South Korea, and others while RoW is bifurcated into South America, Middle East, and Africa.
The major key players operating in the global mobile wallet market are Apple Inc., Samsung Electronics Co., Ltd., Amazon.com Inc., Alipay, American Express, Paytm, Microsoft Corp. Inc, MasterCard Inc, Visa Inc., BlackBerry Ltd., and Google Inc, among others.
The key takeaways from the report
- The report will provide detailed analysis of Global Mobile Wallet Market with respect to major segments such as user age group, application, and mode of payment
- The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024
- Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
- An exhaustive regional analysis of Global Mobile Wallet Market has been included in the report
- Profile of the key players in the Global Mobile Wallet Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of the Global Mobile Wallet Market
User Age Group Segments
- Above 60
Mode of Payment Segments
- Other Mode of Payments
- Money Transfers
- Merchant Purchases
- Bill Payments
- Other Applications
- North America
- ·South Korea
- ·South America
- ·Middle East