Smartphone industry has seen the tremendous growth in the last couple of year and expected to grow significantly in coming years. The countries like India, China and U.S. are some of the major countries which holds more than 40-50% of the share of the mobile market. Advancement of the mobile technology and increasing the trend of the online payment among the current generation are driving the Mobile Wallet Market. Over the next couple of the year online payment will be take over the tradition payment due to the government initiation for cashless economy and the growing awareness about the mobile wallet for the money transaction.
NFC transaction is a new trend of the mobile wallet technology is expected to capture the market. NFC transaction have various benefit over traditional payments such as convenience, versatility and safety. Mobile wallet stores all the needed information of the credit and debit card which are necessary for the transaction. Even in case of the mobile phone is stolen intruder cant access the information as it is protected by the password and other security. NFC is adapted in all situations such as banking, movie pass purchase, transit passes and others. These are the benefit which are makes it suitable in wide range of industries.
With the advancement in technology, mobile wallet are used to track down of all the transaction necessary such as prescriptions, medicines purchase, doctors and book appointments in health care sector. Hospitals can track down the patient’s information of every visits, prescribed medicines can be recommended. Mobile wallet helps to manage all the transaction between doctor and patients. Hence, adoption of the mobile wallet in the health care system is expected to boost the market.
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The global mobile wallet market is expected to grow at CAGR of 40% and estimated to reach at market size of US ~$5 billion by the end of forecast period.
The major players operating in the market of mobile wallet are- American Express (U.S.), Apple Inc. (U.S.), AT&T INC.(U.S.), Blackberry Ltd. (Canada), First Data Corporation (U.S.), Google Inc. (U.S.), Sprint Corporation (U.S.), Samsung Electronics Co., Ltd. (South Korea), MasterCard Incorporated (U.S.), and Visa Inc (U.S.) among others.
The Mobile Wallet market has been segmented on the basis of-
- By Mode of Payment – Remote Payment and NFC among others.
- By Application – e-commerce, Ticketing, Mobile Coupon, Mobile Transfer, Micropayment among others.
Currently, Asia-Pacific is dominating the market of Mobile Wallet. Growing economy of Asian countries such as China and India are some of the major factors. In the recent news, Indian government has started promoting the cashless economy and demolish the high currencies in order to overcome from various negative factors. Another factor of growing mobile wallet market in Asia-Pacific is high number of smartphone users. Going ahead to North America, this has more than 250 million smartphone users and as U.S. and Canada are technologically developed countries, it gives North America a great competitive advantage over other regions. Rich IT industry and government initiative towards the cashless economy are helping the North America Mobile Wallet Market. Europe is also showing steady growth in the market of mobile wallet. Countries such as U.K., Germany, France and Italy are some of the major contributors in the revenue of mobile wallet.
- Software developers
- Mobile app Developers
- Banking Service Providers
- Software Developers
- Software Distributors
- Mobile based financial service providers and distributors
- Research Institutes & Universities
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Table of Contents:
1 Market Introduction
1.2 Scope Of Study
1.2.1 Research Objective
1.3 Market Structure:
1.3.1 Global Mobile Wallet Market: By Mode Of Payment
1.3.2 Global Mobile Wallet Market: By Application
1.3.3 Global Mobile Wallet Market: By Region
2 Research Methodology
2.1 Research Type
2.2 Primary Researchpt
2.3 Secondary Research
2.4 Forecast Model
2.4.1 Market Data Collection, Analysis & Forecast
2.4.2 Market Size Estimation
2.4.3 Market Crackdown & Data Triangulation
3 Market Dynamics
3.2 Market Drivers
3.3 Market Challenges
3.4 Market Opportunities
4 Executive Summary
5. Market Factor Analysis
5.1 Porter’s Five Forces Analysis
5.2 Supply Chain Analysis
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