Market Overview
The mobile wallet market size is projected to grow at a CAGR of 28.95% during the forecast period. As per the mobile wallet market research report, the global market for mobile wallet is projected to grow swiftly by $15.20 Billion by 2030. According to analysts, governments across the world promoting digital economy as well as increasing uses of smartphones will drive the market growth during the forecast period. The mobile wallet market research report offers a comprehensive analysis of the global mobile wallet market and its mode of payment and type segments. The growing security proliferation along with concerns regarding security are the elements that could influence the mobile wallet market advancement throughout the forecast period. The mobile wallet market research report by expert analysts is developed to assist organizations in the mobile wallet market.
Market Segmentation
The global mobile wallet market has been segmented based on mode of payment and type. On the basis of mode of payment, the market for mobile wallet is segmented based on remote payment and NFC among others. Additionally, the market on the basis of type, is segmented into micropayment, mobile coupon, mobile transfer, ticketing, e-commerce, among others.
Major elements such as privacy and data safety issues could obstruct the mobile wallet market growth. However, according to the mobile wallet market research report, the growing e-commerce industry along with NFC chip enabled smartphones will propel growth throughout the forecast period. The mobile wallet market is set to register growth at a high CAGR owing to these key factors. The exploration of mode of payment and type segments along with regional markets has been given in the global mobile wallet market research report. The research analysts studying the mobile wallet market have put out market forecasts in the mobile wallet market research report in order to support mobile wallet market-based companies. The mobile wallet market research report provides an extensive understanding of the mobile wallet market based on the information.
Competitive Landscape
High number of smartphone users are presumed to drive the mobile wallet market growth worldwide. The global mobile wallet market could be challenged by high cost maintenance, nevertheless, organizations in the mobile wallet market will carry the growth rate forward. The mobile wallet market research report presents company profiles of major companies active in the mobile wallet market globally. Furthermore, the global mobile wallet market report offers an all-inclusive analysis of the market collected from the mobile wallet market’s primary and secondary sources covering both decision makers and thought leaders. The mobile wallet market research report highlights such key areas assisting businesses operating in the mobile wallet market to build better growth strategies.
Get Complete Report Details of Mobile Wallet Market
Regional Overview
North America, Europe, Asia Pacific and the rest of the world regional market for mobile wallet are predominantly covered in the global mobile wallet market research report. Country-level mobile wallet markets spread across North America – the United States, Canada, and Mexico are also covered in the report. In South America – Brazil and other country-level mobile wallet markets are covered in the report. In Asia-Pacific (APAC) region, the country-level mobile wallet markets covered are Japan, India, China, and others. The mobile wallet market research report also explores the regional market for mobile wallet present in Europe in the United Kingdom, France, Italy, Spain, and Germany, etc. The mobile wallet market research report also covers regional markets from the rest of the world alongside mobile wallet markets of Africa and the Middle East.
The growth of this segment can be attributed to increasing smartphone penetration and internet connectivity. Some of the key trends in the mobile wallet market include the increasing use of open mobile wallets, the growing popularity of multi-functional digital wallets, and increased adoption in emerging markets. In addition, lack of regulatory framework will hamper industry growth. Overall, the Mobile Wallet market is expected to continue to experience strong growth in the coming years.
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Industry News
At the Saudi Entertainment and Entertainment Show (SEA) 2020, Embed, a leading worldwide provider of point of sales and revenue management systems, will introduce the Mobile Wallet. The Mobile Wallet has the ability to connect a virtual game card to the Apple Wallet or Google Play so that games are played seamlessly. It functions like a game card, however, allowing customers to tap and refill the wallet without leaving the game. It also helps operators to learn the behavior, usages, and spending patterns of customers.
