Mobile Wallet Market Share and Growth For Business Development 2021 to 2026 - Alibaba, Apple, Citrus Payment Solutions, Google, MasterCard

The Mobile Wallet Market Research Report is an in-depth study that provides industry-leading insight into existing and emerging growth patterns, end-user analysis, and other key data that have been tested and validated by experts and industry professionals. The report studies the market for importance, share, Status, demand and supply, models, competitive landscape, industry chain analysis, and other significant factors. The report also provides a detailed overview of the driving forces of the industry, along with the micro and macro-economic factors that are likely to affect its development.

The market for the global Mobile Wallet is expected to register a CAGR of 22.5% over the forecast period (2021 - 2026).

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The Top Key Players in the Global Mobile Wallet Market are like Alibaba, Apple, Citrus Payment Solutions, Google, MasterCard, Oxigen Services, PayPal Holdings, Samsung Electronics, Visa and Others.

Industry News:

- December 2019- Ant financials announced that it has acquired a sizable stake in eMonkey, a Vietnamese e-wallet and report it will be controlling about 50% of eMonkey operations with significant influence on the wallet. This acquisition will enable Ant financials to enter the Vietnamese payment market leveraging the operating licenses of eMonkey from the State Bank of Vietnam as it plans to invest several hundred million dollars in the market in the near future.

- November 2019- In response to the prior announcement of Tencent to support international card schemes in its Mobile Wallet, Visa released a statement that it believes the strategy would leverage the international consumers traveling to china. Visa is currently collaboratively working with Tencent to develop an environment where visa cardholders will be able to visa cards in china wherever WeChat pay is accepted.

Key Market Trends:

Asia-Pacific to Witness the Fastest Market Growth:

- China has always been a major player in the mobile economy leveraging its fintech firms enabling cashless payment across the country until recently, southeast Asia is catching the rise majorly due to its robust economic growth added smartphone penetration in the market
- Also, the traditionally cash-reliant economy is leveraging the host of vendors in the region such as ride-rentals, remittance firms, fintech startups, banks to provide people in Southeast Asia greater access to e-wallets, microloans, insurtech products through smartphones. For instance, According to Forbes, Indonesia is one of the mobile-first countries in the world with 95% of internet users reported as mobile users
- According to a report from Gooogle, Temasek and Bain & Company, Southeast Asia digital payment industry is projected to grow the gross transaction volume from USD 600 billion in 2019 to USD 1.1 trillion by 2025, with e-wallets sharing USD 22 billion in 2019 and USD 114 billion in 2025
- To capture such potential market, Global vendors are strategically collaborating and acquiring local vendors. For instance In December 2019, Ant Financial has patnered with several local wallets in Southeast Asia and has invested in eMonkey to capture digital payments market share in the region.
- Additionally, Government initiative such as Digital India leverage the growth of the market in the region

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What Are The Market Factors That Are Explained In The Report?

Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

Analytical Tools: The Mobile Wallet Market Report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

Customization of the Report: This report can be customized as per your needs for additional data up to 3 companies or countries or 40 analyst hours.

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