The global mobile wallet market is expected to grow impressively with a CAGR of 29.4% during the forecast period (2018-2023). There are variety of pivotal factors that are driving the global mobile wallet market which includes global increase in smartphone users, increasing internet users, favourable government policies and technological advancement. Other key factors include rising growth of e-commerce market and huge unbanked population across the globe. The key players such as Apple, Google, Alipay, M-Paisa are the major market players in the market. The growing e-commerce industries, internet users and smartphone adoption boosted the online transactions, online shopping, online ticket booking and online money transfer across the globe. Cohesive government policies and increasing trends toward cashless transactions contributed in the significant growth of global e wallet market.
Unbanked population, online shopping and person to person money transfer triggered the growth of mobile wallet market in emerging economies. Low-middle income economies such as Africa have the most populous unbanked population creating huge scope for mobile wallet companies such as M-Pesa. Rigidity of banks and stringent government rules and policies enable the global mobile wallet to grow significantly in low-middle income countries such as Africa and Nigeria. Emerging economies such as India, China, and Brazil are expected to contribute significantly in global mobile wallet market. Numerous start-ups and banks are entering into mobile wallet market which are creating huge opportunity for the market. There is massive demand for mobile wallet applications such as close loop payment which has considerable contribution in the Market.
North America is expected to contribute highest in the market followed by Europe. North America generates highest revenues across the globe due to huge adoption of mobile wallet application and mode of payment services. Rigid Banking norms enable the mobile wallet market to grow fast in low-middle income countries such as Africa, Nigeria. Emerging economies such as China, India, and Brazil are expected to create huge opportunity for global mobile wallet market due to huge customer base and growth of e-commerce industries. The global mobile wallet market report includes detailed market overview, market determinants, company profiling, sector analysis, market segmentation, geographical analysis, strategic recommendations, key company analysis, key findings, market insights, analyst insights and predictive analysis of the market.
The key players of global mobile wallet market include First Data Corporation, M-Pesa, Google Inc., American Express, Alipay, VISA, Softcard, Apple Pay, AT&T, Mastercard, Samsung. Other companies profiled in the report include Dwolla Corp, Bank of America, China Unionpay. M&A, product expansion, product launch and partnership are the key strategy adopted in the global mobile wallet market. Global mobile wallet market players are constantly focusing on expansion, product launch, R&D, innovation and technological advancement. Rising competition makes global mobile wallet market dynamic and fast growing.
Research methods and tools:
The market study of mobile wallet market is incorporated by extensive primary and secondary research conducted by research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report country level analysis is provided by analysing various regional players, regional tax laws and policies, consumer behaviour and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders and industry experts. Primary research brings the authenticity in our reports.
Secondary sources include:
- Financial/annual reports of companies involved in the market
- Forward looking statement of key mobile wallet market
- Authentic Public Databases
- Whitepapers, research-papers and news blogs
- Company websites and their product catalogue.
- Investment from global giants and emerging companies
The report is intended for mobile wallet market players, potential entrants, healthcare provider, universities for overall market insights. The report provides in-depth analysis on pricing, market size, market determinants, competitive landscape and so forth. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models such as PEST analysis delivering insights into the market for better business decisions.
- Global Mobile and e Wallet Market Research and Analysis, By Application
- Global Mobile and e Wallet Market Research and Analysis, By Mode of Payment
- Global Mobile and e Wallet Market Research and Analysis, By Stakeholder
- Global Mobile and e Wallet Market Research and Analysis, By Region
THE REPORT COVERS:
- Comprehensive research methodology of Global Mobile Wallet Market.
- This report also includes detailed and extensive market overview with key analyst insights.
- Exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the Global Mobile Wallet Market.
- Insights about market determinants which are stimulating the Global Mobile Wallet Market.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.