Mobile Wallet Market Will Hit Big Revenues In Destiny | Apple, Alipay, AT&T, Google

The mobile wallet provides a convenient solution for any business that allows customers to purchase their products online with greater ease, therefore driving sales. As mobile use grows rapidly, users begin to go online more often via mobile and even shop via mobile. With the mobile wallet, it is possible to hold all the items that a physical wallet would carry on the mobile device. The research also provides a market analysis using various analytical techniques, including Porter's Five Forces Analysis and PESTEL Analysis. These tools provide an in-depth analysis of the micro- and macro-environmental elements that influence the market's expansion during the forecast period.

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A mobile wallet is a virtual wallet payment service acronym as mWallet, digital wallet, or eWallet. It is a mobile technology that makes in-store payments conveniently and is also used by merchants by listing to its desired mobile wallet service provider. In simple terms, a mobile wallet is an application that allows it users to send and receive money from its mobile device. It is a form of a mobile-commerce model designed for the convenience and ease of access to a user's payment services.

The mobile wallet market has evolved as a result of advancements in the mobile phone technology and is expected to grow exponentially in near future, favored by continuous R&D in the smartphone technology and lowering security concerns. The widespread smartphone adoption in the developed markets and its increasing penetration levels in the developing markets are influencing the growth of the mobile wallet market positively. Increase in awareness levels, the ubiquity of mobile phones, and advancements in the mobile phone technology drive the growth of the market in the coming years. In addition, the crucial drivers for this market are availability of user-friendly technologies and related advancements, rise in significance of social media and mobile data usage, increase in convenience factor, and high usage of mobile wallet functionalities (value-added services).

However, factors such as high deployment costs, security concerns, and lack of awareness pertaining tomobile phone wallet technology may impede the growth of the stated market moderately. Furthermore, surge in adoption of near field communication technology by retailers and consumers is expected to propel the growth of the mobile wallet market.

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The global mobile wallet market is segmented into type, technology, end user, industry vertical, and region. Depending on type, the market is bifurcated into proximity and remote. On the basis of technology, it is classified into near field communication, QR code, text based/short message service, and digital only. By end user, the market is categorized into personal and business. By industry vertical, the market is divided into hospitality & transportation, media & entertainment, retail, healthcare, energy & utilities, telecommunication, and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the current & future trends of the market to elucidate the imminent investment pockets.
- Information about key drivers, restraints, and opportunities and their impact analysis on the global mobile wallet market share is provided.
- Porter's five forces analysis illustrates the potency of the buyers and suppliers operating in the global mobile wallet industry.
- The quantitative analysis of the market from 2019 to 2027 is provided to determine the global mobile wallet market potential.

KEY MARKET PLAYERS
- Amazon Web Services Inc.
- American Express Banking Corp.
- Apple Inc.
- Alipay.com
- AT&T Inc.
- Google Inc.
- Mastercard Incorporated
- PayPal Holdings, Inc.
- Samsung Electronics Co., Ltd
- VISA Inc.

KEY MARKET SEGMENTS
By Type
- Proximity
- Remote

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By Technology
- Near Field Communication
- QR Code
- Text based/Short message service
- Digital Only

By Industry Vertical
- Hospitality & Transportation
- Media & Entertainment
- Retail
- Healthcare
- Energy & Utilities
- Telecommunication
- Others

By End User
- Personal
- Business

By Region
- North America
o U.S.
o Canada
- Europe
o Germany
o France
o UK
o Rest of Europe
- Asia-Pacific
o Japan
o China
o India
o Rest of Asia-Pacific
- LAMEA
o Latin America
o Middle East
o Africa

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This release was published on openPR.