Global Mobile Wallet Market, Global Mobile Wallet Industry, Market Revenue, Covid-19 Impact Global Mobile Wallet Industry, Mobile Wallet Retail Market, Mobile Wallet Restaurants Market: Ken Research
According to study, “Global Mobile Wallet Market: Market Segments: By Product (Proximity And Remote); By Mode of Payment (SMS, NFC, WAP, Others);By Application (Retail, Vending Machine, Public Transportation And Restaurants); and Region – Analysis of Market Size, Share & Trends for 2014 – 2019 and Forecasts to 2030” the key companies operating in the global mobile wallet market are Ant Financial Services Group, Allied Wallet, Inc., Apple Inc., Amazon.com, Inc., American Express Company, AT&T Inc., Barclays plc, Google LLC, Vodafone Group PLC, ICICI Bank Limited, Due Inc., First Data Corporation, J.P. Morgan Chase & Co., One Mobikwik System Pvt Ltd., One, Communications Limited, Mastercard Incorporated, Mozido, Inc., PayPal Holdings, Inc., Skrill Ltd., Tencent Holdings Limited., Samsung Electronics Co., Ltd., Visa Inc., and Wells Fargo & Company. The key players are collaborating with technology vendors, banks, and payment service providers to develop the necessary infrastructure for enhancing the customer experience. Furthermore, the Value Added Service (VAS) has been acting as an enabling force driving the market demand and cashless payments. The key players have introduced value-added features in their offerings to distinguish the business from the competitors. Some of the features include digital loyalty schemes, real-time fraud screening, mobile vouchers & services, dynamic currency conversion, and a digital charity box.
For More Information, refer to below link:-
Based on product type, mobile wallet market is segmented as remote and proximity. Proximity product type holds major share in global market owing to increase in penetration of NFC enabled mobile phones. Based on mode of payment, market is segmented as Near Field Communication (NFC), Text based/Short message service (SMS), WAP and others. NFC segment is further sub-segmented as NFC chips & tags, NFC handsets, NFC Micro SD, NFC readers, and NFC SIM / UICC card. Based on age group, market is segmented as18-29 years, 30-44 years, 45-59 years, and 60 years and above. In addition, based on application, market is segmented as vending machine, retail, restaurants and public transportation. The retail segment is anticipated to emerge dominant among all the prime application segments such as payment network, financial institutions, customers, and intermediaries. The growth of the retail segment can be attributed to the increasing number of retail stores across the world and the demand for suitable transactions.
The mobile wallet market is driven by rise of various e-commerce platforms, followed by increase in penetration of smart-phones, attractive discounts and cash back offer by mobile wallet providers, increase in number of strategic partnerships among competitors, supportive government initiatives and change in customers’ preferences towards digital payments. However, lack of clear regulatory framework and data security issues may impact the market. Moreover, widespread smart-phone adoption and growth in implementation of multi-channel strategies by merchants owing to increase in competition from Internet vendors are key opportunities for market.
Based on geography, the Asian-Pacific region holds major share in global mobile wallet market owing to growth in adoption of mobile technology in emerging markets in the region. The North-American and European regions are estimated to witness higher growth rate due to well-established NFC market coupled with high adaptability of the consumers for the new technology over the forecast period.
Ankur Gupta, Head Marketing & Communications
Ken Research Pvt. Ltd.,
Unit 14, Tower B3, Spaze I Tech Business Park, Sohna Road, sector 49 Gurgaon, Haryana - 122001, India
Ken Research is a Global aggregator and publisher of Market intelligence, equity and economy reports. Ken Research provides business intelligence and operational advisory in 300+ verticals underscoring disruptive technologies, emerging business models with precedent analysis and success case studies. Serving over 70% of fortune 500 companies globally, some of top consulting companies and Market leaders seek Ken Research’s intelligence to identify new revenue streams, customer/ vendor paradigm and pain points and due diligence on competition.
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Global Mobile Wallet Market, Global Mobile Wallet Industry, Market Revenue, Covid-19 Impact Global Mobile Wallet Industry, Mobile Wallet Retail Market, Mobile Wallet Restaurants Market: Ken Research here
News-ID: 2233955 • Views: 898
More Releases from Ken Research Pvt Ltd
SABIC, Ma'aden, Zamil Steel, Tasnee Lead Middle East Metal Working: Ken Research
These companies are playing a crucial role in uplifting the trade & manufacturing within the region, keeping sustainable practices in mind In the dynamic landscape of the Middle East, Zamil Steel and Tasnee stand as catalysts, shaping the region's infrastructure and transport arena. With Zamil Steel's prowess in pre-engineered steel products and Tasnee's leadership in metal production, their collaborative efforts are ensuring Middle East region's substantial progress. Amidst these transformative endeavors,
The US Urinary Tract Infection Therapeutics Market is expected to reach ~$2Bn by …
The US urinary tract infection therapeutics market is anticipated to grow at a CAGR of ~2% and become a ~USD 2Bn industry by 2028. Currently, this industry has a market size of ~USD1.8 Bn. STORY OUTLINE The rising age of the population is one of the major factor responsible for the growth of the US UTI Therapeutics market. The rise in government expenditure towards the healthcare sector also pose as growth inhibitor for the US
Top 4 US Loan Servicing Companies And Their Strategies In US Loan Servicing Mark …
US Loan Servicing Market is growing due to advanced digital practices and technological advancements. The market is loaded with numerous loan servicing companies that offer a variety of services according to today's modern needs. Let's have a look at some of the top companies and their strategies. Story Outline Fiserv Inc.: One of the FORTUNE'S most admired companies of 2023, a leading global technology provider in the financial services industry, pushing innovation
The US Anesthesia Drug market is anticipated to become a ~USD 6.4 Bn Industry by …
The United States Anesthesia Drug market is predicted to grow at a CAGR of ~4% in the upcoming 5 years as per the findings of Ken Research. STORY OUTLINE Rising surgical procedures in the US are a major factor behind the growth of the US Anesthesia Drug market. Increasing geriatric population typically requires more surgeries which results in demand of the anesthesia drugs thereby accelerating the US Anesthesia Drug market. Technological advancements make the
More Releases for NFC
Near Field Communication (NFC) Market 2020 Global Industry Size, Share, Trend an …
Description New Research Study ""Near Field Communication Market 2022 analysis by Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges and Investment Opportunities), Size, Share and Outlook"" has been added to Coherent Market insight global near field communication market is estimated to be valued at US$ 22,282.8 million in 2021 and is expected to exhibit a CAGR of 16.4 % over the forecast period (2021-2028). The dynamics of the Near Field Communication market is discussed
NFC Systems Market Report 2018: Segmentation by Type (NFC readers, NFC chips, NF …
Global NFC Systems market research report provides company profile for Renesas Electronics, Sony, Qualcomm, Smartrac, STMicroelectronics, SanDisk, Broadcom, INSIDE SECURE, MediaTek, NXP Semiconductors and Others. This market study includes data about consumer perspective, comprehensive analysis, statistics, market share, company performances (Stocks), historical analysis 2012 to 2017, market forecast 2018 to 2025 in terms of volume, revenue, YOY growth rate, and CAGR for the year 2018 to 2025, etc. The report
NFC Chips Market - NFC Can Turn Your Phone into a Digital Wallet
Near Field communication (NFC) chips are the communicating system that are best for electronic applications. The NFC chips are also potential of detecting the radio frequency identification technology. The technological advancements have further aided the evolution of shorter range radio identification technologies between two devices. This development also assist the simplifying the safer data transfer. A key trend that has been observed in the recent past years and the rising
Growing Demand for Upgraded NFC POS Terminals to drive NFC Systems Industry
NFC systems bring two devices in close proximity to enable peer-to-peer communication. End-users use this technology to transfer information from their devices to other NFC devices, such as smartphones and NFC tags. The system directly transfers data between phones or phones and POS devices. Many mobile phone operators are looking for ways to further develop this technology. Research analysts forecast the global NFC systems market to grow at a CAGR of
Near Field Communication (NFC) Market (By Products - NFC Controller ICs (Chips), …
Near Field Communication (NFC) is a wireless technology and mainly finds application in mobile phones and tablets PC for data exchange and transactions in a close range. It is based on RFID technology and has emerged as an alternative to other wireless technologies for short range data exchange such as Wi-Fi, Bluetooth and other radio protocols. NFC offers added advantage of high security As compared to other wireless technologies. The
NFC Technology Market -
Near field communication (NFC) has been around since past few years but was not yet implemented as it was undergoing pilot testing phase. Considerable research and developments have been made in this field and several prototypes are developed for number of products and applications. Major application areas of NFC include mobile payments, data sharing, and advertisement among others. Although there are limited products commercially available today using NFC technology, this