Global Mobile Wallet Market, Global Mobile Wallet Industry, Market Revenue, Market Major Players, Mobile Wallet Public Transportation Market, Mobile Wallet Restaurants Market, Mobile Wallet SMS Market, Mobile Wallet NFC Market: Ken Research
According to the report analysis, ‘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’ states that the digital wallet is the engine of mobile commerce and also suggest an evolutionary path to decrease the friction in the transaction and optimize consumer satisfaction. The wide implementation of smartphones specifies the accessibility level for mobile wallets. Nonetheless, widespread smartphone implementation and acceptance of multi-channel strategies by merchants owing to an augment in the competition from Internet vendors are further projected to propel the mobile wallet market opportunities during the coming years.
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In addition, the transitions from analog to digital systems are also projected to be one of the aspects for growth over the review period. The effective growth in the demands from countries such as China and India due to changing customer needs and disposable income are also projected to witness progressive growth over the forecast duration. Furthermore, government-driven initiatives such as Make in India and Digital India in the country are projected to boost the penetration of smartphones and several other consumer electronics resulting in the increasing requirement for the industry.
Whereas, the capability of the mobile wallets to deliver the online bill payment choices and other money transfer facilities conveniently and securely propels the growth of the market. Also, the user-friendly interface simplifies ease of transaction throughout travel, which is a major factor estimated to boost the growth of the market. Even, financial institutions and banks get an opportunity to connect with consumers in rural areas via the mobile wallet module, which has helped the market to grow and reach its end-user at less cost. Various modules of mobile wallets are being developed to enhance security and ease of use of such services, which is further expected to drive the mobile wallet market growth in the coming years. Therefore, in the near future, it is predicted that the market of mobile wallet will increase around the globe more effectively over the forthcoming future.
Ankur Gupta, Head Marketing & Communications
Ken Research Pvt. Ltd.,
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Ken Research is a research based management consulting company. We provide strategic consultancy to aid clients on critical business perspective: strategy, marketing, organization, operations, technology, transformation, digital, advanced analytics, corporate finance, mergers & acquisitions and sustainability across all industries and geographies. We provide business intelligence and operational advisory in 300+ verticals underscoring disruptive technologies, emerging business models with precedent analysis and success case studies. Serving 70% of fortune 1000 companies globally, some of top consulting companies and Market leaders seek our intelligence to identify new revenue streams, customer/ vendor paradigm and pain points and due diligence on competition.
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