According to IMARC Group latest report titled “Mobile Wallet Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on mobile wallet market growth. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global mobile wallet market reached a value of US$ 120 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 336.2 Billion by 2027, exhibiting a CAGR of 18.6% during 2022-2027.
Mobile wallet is an online application and software program that aids individuals in making digital payments via the internet. Additionally, it involves the utilization of near-field communication (NFC) chip and QR codes technologies that facilitate the exchange of digital contents while securing the transaction process. It is generally accessible through installed or built-in applications that enable users to store debit and credit cards details. As a result, it offers enhanced convenience, a safer shopping experience, a wide range of uses, and an easy access as well as cashback and discounts coupons, due to which it is gaining widespread prominence among the masses.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
The global market is primarily driven by the increasing penetration of high-speed internet connectivity. Coupled with the rising adoption rates of tablets and smartphones among the masses, this is creating a positive outlook for the market. Along with this, continual improvements in the information technology (IT) and financial sectors are also providing a boost to the market growth. Furthermore, the sudden outbreak of coronavirus disease (COVID-19) has facilitated the adoption of digital payment methods in an attempt to maintain social distancing and minimize the spread of the virus, thereby positively influencing the market growth across the globe. In line with this, increasing government initiatives to promote cashless payments via mobile wallets is also driving the growth of the market. Other factors, including rapid digitization, the rising investments by key players to develop robust marketing strategies and celebrity endorsements, along with improvements in e-commerce infrastructure, are also projected to drive the market further.
View Full Report with TOC & List of Figure: https://www.imarcgroup.com/mobile-wallet-market
Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- Alipay com (Alibaba Group Holding Limited)
- Amazon Web Services Inc. (Amazon.com Inc)
- American Express Company
- Apple Inc.
- Google LLC (Alphabet Inc.)
- Mastercard Incorporated
- Paypal Holdings Inc.
- Samsung Electronics Co. Ltd.
- Squareup Pte. Ltd.
- Visa Inc
Mobile Wallet Market Segmentation:
Our report has categorized the market based on region, type and application.
Breakup by Type:
- Proximity
- Remote
Breakup by Application:
- Retail
- Hospitality and Transportation
- Telecommunication
- Healthcare
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
List of Figures
Figure 1: Global: Mobile Wallet Market: Major Drivers and Challenges
Figure 2: Global: Mobile Wallet Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Mobile Wallet Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Global: Mobile Wallet Market: Breakup by Type (in %), 2021
Figure 5: Global: Mobile Wallet Market: Breakup by Application (in %), 2021
Figure 6: Global: Mobile Wallet Market: Breakup by Region (in %), 2021
Figure 7: Global: Mobile Wallet (Proximity) Market: Sales Value (in Million US$), 2016 & 2021
Figure 8: Global: Mobile Wallet (Proximity) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 9: Global: Mobile Wallet (Remote) Market: Sales Value (in Million US$), 2016 & 2021
Figure 10: Global: Mobile Wallet (Remote) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 11: Global: Mobile Wallet (Retail) Market: Sales Value (in Million US$), 2016 & 2021
Figure 12: Global: Mobile Wallet (Retail) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 13: Global: Mobile Wallet (Hospitality and Transportation) Market: Sales Value (in Million US$), 2016 & 2021
Figure 14: Global: Mobile Wallet (Hospitality and Transportation) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 15: Global: Mobile Wallet (Telecommunication) Market: Sales Value (in Million US$), 2016 & 2021
Figure 16: Global: Mobile Wallet (Telecommunication) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 17: Global: Mobile Wallet (Healthcare) Market: Sales Value (in Million US$), 2016 & 2021
Figure 18: Global: Mobile Wallet (Healthcare) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 19: Global: Mobile Wallet (Others) Market: Sales Value (in Million US$), 2016 & 2021
Figure 20: Global: Mobile Wallet (Others) Market Forecast: Sales Value (in Million US$), 2022-2027
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