Press release
Mobile Wallet Market Set to Reach USD 88.05 Billion By 2032 with a Notable CAGR of 28.0%
๐๐จ๐๐ข๐ฅ๐ ๐๐๐ฅ๐ฅ๐๐ญ ๐๐๐ซ๐ค๐๐ญ๐๐๐ซ๐ค๐๐ญ ๐๐ฎ๐ญ๐ฅ๐จ๐จ๐ค:
โ The global mobile wallet market was valued at USD 9.55 billion in 2023.
โ The market is expected to expand at a CAGR of 28.0% from 2024 to 2032.
โ The market is expected to grow to USD 88.05 billion by 2032.
๐๐ฏ๐๐ซ๐ฏ๐ข๐๐ฐ:
The mobile wallet consists of electronic platforms and apps that enable individuals to store, handle, and conduct financial transactions with money via smartphones or other portable devices. Mobile wallets offer a safe and easy alternative to traditional transaction methods such as checks, cash, or physical debit/credit cards. Mobile wallets often link with apps like ride-sharing, e-commerce, and food delivery platforms, enabling users to pay within the applications easily.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐ ๐จ๐ซ ๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐ฐ๐ข๐ญ๐ก ๐๐ง ๐๐ฑ๐๐ฅ๐ฎ๐ฌ๐ข๐ฏ๐ ๐๐จ๐จ๐ค ๐๐ญ ๐ญ๐ก๐ ๐๐๐ญ๐๐ฌ๐ญ ๐๐ซ๐๐ง๐๐ฌ ๐๐ง๐ ๐๐ฉ๐๐จ๐ฆ๐ข๐ง๐ ๐๐๐ฏ๐๐ง๐๐๐ฆ๐๐ง๐ญ๐ฌ:https://www.polarismarketresearch.com/industry-analysis/mobile-wallet-market/request-for-sample
๐๐ซ๐จ๐ฐ๐ญ๐ก ๐ ๐๐๐ญ๐จ๐ซ๐ฌ ๐๐ง๐ ๐๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐๐ฌ:
Governments and financial institutions globally are encouraging the use of digital payment methods to decrease dependence on cash, resulting in a rise in the utilization of mobile wallets. Furthermore, mobile wallets offer a safe and convenient way for individuals to carry out different financial transactions on their mobile phones. The expected expansion in this market underscores the growing dependence on digital payment options within the current environment.
๐๐๐ฒ ๐๐๐ซ๐ญ๐ข๐๐ข๐ฉ๐๐ง๐ญ๐ฌ:
Leading companies in the global market prioritize strategic acquisitions to enhance their R&D capabilities and gain a competitive advantage, allowing them to provide users with innovative products. Some of the major players participating in the mobile wallet market:
โข Airtel
โข Alipay
โข Amazon Web Services, Inc.
โข American Express
โข Apple Inc.
โข AT&T
โข Google Inc.
โข Mastercard
โข PayPal Holdings Inc.
โข Samsung
โข Visa Inc.
๐๐๐๐ ๐๐จ๐ซ๐ ๐๐ง๐๐จ๐ซ๐ฆ๐๐ญ๐ข๐จ๐ง? ๐๐ง๐ช๐ฎ๐ข๐ซ๐ ๐ฆ๐จ๐ซ๐ ๐๐๐จ๐ฎ๐ญ ๐ญ๐ก๐ข๐ฌ ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐๐๐๐จ๐ซ๐ ๐ฉ๐ฎ๐ซ๐๐ก๐๐ฌ๐: https://www.polarismarketresearch.com/industry-analysis/mobile-wallet-market/inquire-before-buying
๐๐จ๐๐ข๐ฅ๐ ๐๐๐ฅ๐ฅ๐๐ญ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐ข๐ ๐ก๐ฅ๐ข๐ ๐ก๐ญ๐ฌ
โข Proximity segment garnered the largest share, primarily due to advent of QR-enabled smartphones
โข Banking segment expected to grow at the fastest rate, on account of rising UPI based small payment transactions
โข Asia Pacific held largest share, on account of presence of huge population seeking digital payment solutions
๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ญ๐ก๐จ๐๐จ๐ฅ๐จ๐ ๐ฒ:
The research report makes use of various standard methodologies to provide a comprehensive analysis of the market. It includes quantitative research to collect numerical information from primary and secondary data sources such as surveys, polls, and desk research. Also, it uses subjective measures, such as focus groups, to gain key insights into the market. Furthermore, the research study involves interviews with leading experts to uncover facts and opinions about the Mobile Wallet Market Growth. All the information in the report goes through a multi-step verification method to provide an accurate and reliable market analysis.
๐๐ซ๐จ๐ฐ๐ฌ๐ ๐ ๐ฎ๐ฅ๐ฅ ๐๐๐ฉ๐จ๐ซ๐ญ: https://www.polarismarketresearch.com/industry-analysis/mobile-wallet-market
๐๐๐ซ๐ค๐๐ญ ๐๐๐ ๐ฆ๐๐ง๐ญ๐๐ญ๐ข๐จ๐ง:
The mobile wallet market is mainly based on technology, application, and region. Based on technology analysis, in 2023, the proximity segment held the largest market share. Proximity technology enables mobile phone or smart device users to conduct payments by being near a POS terminal at a retail location or elsewhere.
Furthermore, according to the application analysis, in 2023, the retail & e-commerce segment accounted for a substantial market share. The combination of digital marketing strategies with cashless and contactless payment options presents an opportunity for retailers to gather valuable consumer data and cultivate customer loyalty.
๐๐จ๐ซ๐ ๐๐ซ๐๐ง๐๐ข๐ง๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ ๐๐ฒ ๐๐จ๐ฅ๐๐ซ๐ข๐ฌ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก:
Robotic Process Automation (RPA) Market: https://www.polarismarketresearch.com/industry-analysis/robotic-process-automation-market
Blockchain Technology Market: https://www.polarismarketresearch.com/industry-analysis/blockchain-technology-market
Precision Farming Market: https://www.polarismarketresearch.com/industry-analysis/precision-farming-market
Vertical Farming Market: https://www.polarismarketresearch.com/industry-analysis/vertical-farming-market
Eyewear Market: https://www.polarismarketresearch.com/industry-analysis/eyewear-market
๐๐จ๐ง๐ญ๐๐๐ญ:
Likhil G
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๐๐๐จ๐ฎ๐ญ ๐๐จ๐ฅ๐๐ซ๐ข๐ฌ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก & ๐๐จ๐ง๐ฌ๐ฎ๐ฅ๐ญ๐ข๐ง๐ , ๐๐ง๐:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.
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