Report Scope

This report analyzes the global mobile wallet market in terms of application, end-use, and geography. On the basis of application, the market is segmented into mobile commerce, money transfer, mobile recharge, utility and bill payments, and other applications. Similarly, on the basis of end-use, the global mobile wallet market is further classified into retail, transportation, restaurants, utilities, and telecom among others. The geographical distribution of the global mobile wallet market considered in this study encompasses regional markets such as the Americas, Europe, the Middle East and Africa, and the Asia Pacific.

Overview:

With the flourishing m-commerce industry, there has been a significant rise in mobile shopping and mobile banking activities. The flourishing m-commerce industry paired with the proliferation of smartphones and Internet penetration is driving the mobile wallet market worldwide. In addition, the advancements in technology have led to increasing in the number of smartphones supporting contactless payment technologies like near-field communication (NFC). This, in turn, is favoring market demand. These factors are expected to contribute towards a double-digit compounded annual growth rate (CAGR) during the forecast period 2020 – 2028.

1.1    Report Description

Purpose of the Report

The purpose of this strategic research study titled “Mobile Wallet Market - Growth, Share, Opportunities, and Competitive Analysis, 2020 – 2028” is to offer industry investors, company executives, and industry participants with in-depth insights to enable them to make informed strategic decisions related to the opportunities in the global payments industry.

1.1.1   Target Audience

• Industry Investors
• Mobile Wallet Technology Developers
• Mobile Network Operators (MNO)
• Value-Added Resellers
• Banks and Financial Institutions
• Retailers and Merchants
• Other End-users

1.1.2   USP and Key Offerings

The report titled “Global Mobile Wallet Market - Growth, Share, Opportunities, and Competitive Analysis, 2020 – 2028” offers strategic insights into the global mobile wallet market along with the market size and estimates for the duration 2018 to 2028. The said research study covers in-depth analysis of multiple market segments based on application, end-use, and cross-sectional study across different geographies. In order to help strategic decision-makers, the report also includes competitive profiling of the key industry participants, their SCOT (Strength, Challenges, Opportunities, and Weaknesses) analysis, market positioning, and recent developments. Other in-depth analysis provided in the report includes:

• An overview of the global mobile wallet market
• Current and future market trends to justify the forthcoming attractive sub-markets within the global payments industry
• Qualitative assessment tools such as market drivers, challenges and future prospects, value chain, and attractive investment proposition.
• Focus on each level of market segmentation based on product approvals, launch, and current and anticipated market dynamics.
• A general overview of the industry structure
• Company profiles highlighting key information about the major players operating in the global mobile wallet market
• Market competition scrutiny tools such as market share analysis, fractal map, etc.
• SRC (Segment-Region-Country) Analysis

Overall, the research study provides a holistic view of the global mobile wallet market, offering market size and estimates for the period from 2018 to 2028, keeping in mind the above-mentioned factors. 

Mobile commerce and money transfer were the two leading application segments in the global mobile wallet market in 2019. The segments collectively accounted for over 60% of the global market revenue in the same year. The trend shall continue and the mobile commerce segment is presumed to retain its leading position throughout the forecast period 2020 - 2028. The proliferation in the e-commerce sector is expected to positively influence the growth of the mobile commerce segment during the forecast period. Looking at the bright prospects, telecom service providers would offer the necessary infrastructure support to mobile wallet vendors required for building robust m-commerce platforms. Thus, inflow of investments in social media and m-commerce is also expected to have a positive impact on the overall demand in this segment.

As of 2019, retail was the largest end-use segment in the global mobile wallet market in terms of both revenue and number of transactions. The segment accounted for over 40% of the global market revenue in the same year. The trend shall prolong and the segment is presumed to hold on to its dominant position throughout the forecast period 2020 - 2028. The retail sector, which currently boasts of the highest penetration rate, is a key segment for vendors and mobile operators. As the technology matures, more retailers are expected to adopt the technology for effective and easy payment procedure. In addition, the growing number of POS terminals with NFC capabilities is further expected to fuel adoption of the mobile wallet technology among retailers. Other application segments including transportation and telecoms are also expected to witness robust growth during the forecast period 2020 -2028.

In 2019, Asia Pacific was the largest mobile wallet market in terms of both revenue and number of transactions followed by Europe and North America. In 2019, the region accounted for over 30% of the global market revenue. The region is house to a large number of smartphone users who are increasingly making use of mobile wallets. In addition, with growing integration between mobile wallet provides with local transportation, utility, and telecom companies, Asia Pacific is expected to continue to grow at an increasing rate during the forecast period from 2020 to 2028.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Mobile Wallet market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Mobile Wallet market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Mobile Wallet market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Mobile Wallet market?
• Which is the largest regional market for Mobile Wallet market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Mobile Wallet market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Mobile Wallet market worldwide?