Mobile Wallet Market Report Study with CAGR Growth 37% by 2026 | StraitsResearch

The global mobile wallet market was valued at USD 700 Billion in 2017 and is estimated to grow at a CAGR of 37% during the forecast period. The conventional payment market is experiencing a high-level technological transformation with the emergence of smart cards, e-wallet, net banking, and others. Mobile payment technology is set to disrupt legacy business models, owing to new technological innovations such as integration of wearables, biometrics, and blockchain technology. For instance, in September 2018, Infinito Wallet launched the Universal wallet with Cardanol’s ADA cryptocurrency support. The technology is expected to pave way for fast and secure transfers through a smart contract platform, specifically for applications that consumers, businesses, and governments can rely on.

The global e-commerce boom is a primary factor expected to drive the mobile wallet market growth during the forecast period, 2019–2026. The e-commerce market is growing at a rapid pace on account of the increasing penetration of smartphones and the internet, which has compelled e-commerce companies to rely on strategic acquisitions and new product development to expand their market presence. Currently, the average remittance charged by any financial intermediary (bank) for performing any financial transaction is about 7.5 to 10%. The adoption of blockchain would enable customers to have direct point-to-point transactions without a need for a third-party interface, thereby reducing expensive transaction fees.

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The Major Players Covered in this Report: American Express, Apple Inc., Google Inc., Blackberry Ltd., Sprint Corporation, MasterCard Incorporated, AT&T INC, Samsung Electronics Co., Ltd, and Visa Inc., & More...

By Wallet Type, Device Centric, Merchant Centric, Network Centric, Others,
By Payment Mode, NFC, Remote Payment,
By Application, Mobile Commerce, Mobile Transfers, Micropayments, Others,

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Growing Domestic Demand and Expanding Pharmaceutical Sector to Drive the Demand for Mobile Wallet in the APAC Region
Asia-Pacific region is anticipated to hold the largest market share in the global Mobile Wallet market during the forecast period 2019-2026. The growth in this region can be attributed to the presence of emerging economies like India, China, Japan, Vietnam, and Indonesia, which account for the largest share in this region. India is one of the largest producers of Mobile Wallet and a major exporter of the product to various countries across the globe. India accounts for around 80% of the world’s exports of Mobile Wallet. The favorable climatic conditions and growth of agricultural inputs and allied services like cold storage and warehousing in India are prompting higher production.

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The report covers exhaustive analysis on:
Overview of the parent market
Global Mobile Wallet Market Segments, Dynamics, Market Size, Share, Price, Volume, and Cost
Historical, current and projected market size in terms of volume and value
Global Mobile Wallet Market Forecast 2021 to 2029
Supply & Demand Value Chain
Global Mobile Wallet Market dynamics, including the current trends/drivers/threats/restraints/challenges
Potential and niche segments/regions exhibiting promising growth
Market landscape, competition, and leading companies involved
Strategies of leading companies and product offerings
Technological advancements

Why Buy This Report?
The report covers the following points within the scope,

Potential Venture Avenue
CR5 Ratio of Top Companies
Market Share Analysis

In October 2018, the Reserve Bank of India laid out several guidelines that would allow payments between different mobile wallets, which is expected to bolster the mobile wallet market growth during the forecast period. Digital payments have witnessed an upsurge in the country post the demonetization period and are expected to grow to about USD 1 Trillion by 2023

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