Market Scenario:
Mobile wallet is a technology where debit and credit card information can be stored in the smart phone. In the other words instead of keeping the physical cards, one can just pay the bill with the help of the smart phone where the credentials of bank details, card and internet banking information is stored. As the technology is growing and government of various countries are promoting digital economy, the Mobile Wallet Market is expected to grow immensely. Increasing uses of smartphone and growing e-commerce industry are some of the major factor which is supporting the market of mobile wallet around the world whereas growing security proliferation and security are some of the major restraint to the market.
In the latest trend, NFC chip enabled smartphone are expected to drive the market as most of the smartphone manufacturers are equipping the phones with NFC.
In the recent news, Samsung Corporation has acquired LoopPay Inc. is a mobile payment and wallet solution provider. The endless opportunities in the upcoming future are one of the factor which is inviting the major global players in this sector.
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.
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Key Players
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.
Market Segmentation:
The global mobile wallet market has been segmented on the basis of mode of payment and application. Based on mode of payment, the mobile wallet market is segmented into remote payment, NFC and others. Based on application, the mobile wallet market is segmented into commerce market, ticketing market, mobile coupon, mobile transfer, micro payment and others.
Regional Analysis:
Geographically, the global mobile wallet market is segmented into four major regions such as North America, Europe, Asia Pacific and the rest of the world. Among these, the Asia Pacific region is dominating the global mobile wallet market. The mobile wallet market in this region is majorly driven by demonetization initiative taken by Indian government to promote cashless economy and increased number of smartphone users in the developing economies of China and India.
The rapid technological development and easy adoption of trending technologies are leading to the significant growth of the mobile wallet market in the North America region. Whereas, the Europe region is projecting steady growth in the global mobile wallet market.
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Intended Audience:
- Software developers
- Mobile app Developers
- Banking Service Providers
- Software Developers
- Software Distributors
- Government
- Mobile based financial service providers and distributors
- Research Institutes & Universities
Table of Contents:
LIST OF TABLES
Table 1 Global Mobile Wallet Market, By Mode Of Payment
Table 2 Global Mobile Wallet Market, By Application
Table 3 Global Mobile Wallet Market, By Regions
Table 4 North America Mobile Wallet Market, By Country
Continued…
LIST OF FIGURES
Figure 1 Research Type
Figure 2 Global Mobile Wallet Market: By Mode Of Payment (%)
Figure 3 Global Mobile Wallet Market: By Application (%)
Figure 4 Global Mobile Wallet Market: By Region
Continued…
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