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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 2019 - 2020 and Forecasts to 2030

Publisher Name :
Date: 01-Jul-2021
No. of pages: 85

Product Overview

Digital wallet is the mobile commerce engine and als- provides an evolutionary path t- reduce transaction friction and maximize customer loyalty. Users are tempted by enticing cash backs and loyalty coupons issued by various mobile wallet businesses. In the study, the mobile wallet market refers t- payment services conducted under financial regulation and carried out using a mobile device, rather than paying by cheque, cash, or credit card. The digital wallet is the mobile commerce engine and als- provides an evolutionary path t- reduce transaction friction and maximize customer loyalty. Users are tempted by enticing cash backs and loyalty coupons issued by various mobile wallet businesses. In the study, the mobile wallet market refers t- payment services conducted under financial regulation and carried out by means of a mobile device, rather than paying by cheque, cash, or credit card. Based on the use, the mobile wallet market can be segmented in terms of volume, such as retailer transactions, money transfers, bill payments, and others.

Market Highlights

Mobile Wallet Market is expected t- project a notable CAGR in 2030.

Mobile Wallet Market t- surpass USD XXXX million by 2030 from USD XXXX million in 2019 at a CAGR of XX% throughout the forecast period. The digital wallet is the mobile commerce engine and als- provides an evolutionary path t- reduce transaction friction and maximize customer loyalty. The extent of usability of mobile wallets is demonstrated by the wide adoption of smartphones. Besides, widespread smartphone adoption and introduction by merchants of multi-channel strategies due t- increased competition from internet vendors are als- expected t- improve the prospects for the mobile wallet industry in the coming years.

Mobile Wallet Market: Segments

Proximity product type Segment t- grow with the highest CAGR during 2021-30

Mobile Wallet Market is segmented by product type int- Proximity and Remote. The greater market share in 2019 was accounted for by Remote mobile wallet and is expected t- maintain the dominance throughout the forecast period owing t- the ability t- use communication networks t- access cashless payments. The proximity product category is expected t- have the highest growth rate over the forecast period, with the increasing penetration of NFC-powered smartphones across all regions. It is expected that the product's flexibility in converting devices t- NFC-enabled devices will lead t- growth.

NFC segment t- grow with the highest CAGR during 2021-30

Mobile Wallet Market is segmented by mode of payment int- SMS, NFC, WAP, and others. NFC mode of payment is expected t- hold the major market share of XX% in 2019 and als- likely t- be the fastest-growing category in the Mobile Wallet market in the coming years. With safe payment methods, NFC integrated devices deliver improved customer service and enable distributors t- implement the technology. Increased use of vending machines is expected t- increase demand for the application segments in emerging countries such as India, Indonesia, and China. Besides, t- achieve cost and operational performance, low processing fees, and faster check-out through the NFC technology are als- required. The technology allows distributors t- deliver exclusive deals and monitor loyalty rewards t- boost mobile customer relationships.

Retailer segment t- grow with the highest CAGR during 2020-30

Mobile Wallet Market is segmented

By Application int- the restaurant, retail, vending machine, and public transportation. The retail application is estimated t- dominate the business in terms of revenue in 2019 owing t- the proliferation of smartphones and the increasing need for a better consumer experience is expected t- propel the demand. The potential advantages of accepting purchases using mobile wallets are increasingly being acquired by retailers. T- achieve customer data opportunities and loyalty, retailers that combine cashless payment technology with digital marketing are imagined. A vending machine's ability t- make cashless payments offers an incentive for customers t- pay contactless and thus allows the customer t- buy regularly.

Mobile Wallet Market: Market Dynamics

Drivers

Increasing penetration of NFC enabled mobile phones

One of the factors for growth over the forecast period is als- expected t- be the shifts from analog t- digital systems. Growing demands from countries such as China and India are als- expected t- see substantial growth over the forecast period due t- changing customer needs and disposable income. Besides, government-driven initiatives such as Make in India and Digital India are expected t- increase the penetration of smartphones and other consumer electronics in the country, contributing t- rising demand for the industry.

Greater Convenience and Accessibility

The ability of mobile wallets t- provide payment solutions for online bills and other money transfer facilities quickly and safely drives the market growth. The user-friendly interface als- makes it easy t- transact during travel, which is an important factor expected t- fuel market growth. Also, through the mobile wallet module, financial institutions and banks have the ability t- interact with customers in rural areas, which has helped the market expand and meet its end-users at a lower cost. Different mobile wallet modules are being developed t- improve the security and ease of use of such services, which is expected t- further drive the growth of the mobile wallet market in the coming years.

Restraint

Lack of privacy and security

The lack of a threat t- privacy and security over mobile payments could affect the demand for the segment. Over the forecast era, the absence of government regulations regulating cashless payments was als- anticipated t- impede industry demand. The defense, privacy, and transparency of charges are the factors that hinder the growth of the market for mobile wallets. Compatibility problems, as the apps d- not support all OS, credit, and debit card competition and the launch of UPI are some of the factors that impede the growth of the Mobile Wallet market.

Mobile Wallet Market: Key Players

Amazon Web Services Inc.

Company Overview

Business Strategy

Key Product Offerings

Financial Performance

Key Performance Indicators

Risk Analysis

Recent Development

Regional Presence

SWOT Analysis

American Express Banking Corp.

Apple Inc.

Alipay.com

AT&T Inc.

Google Inc.

Mastercard Incorporated

PayPal Holdings, Inc.

Samsung Electronics Co., Ltd

VISA Inc.

Mobile Wallet Market: Regional Dynamics

Mobile Wallet Market is segmented based on regional analysis int- five major regions. These include North America, Latin America, Europe, Asia Pacific, and Middle East, and Africa.

Mobile Wallet Market in Asia Pacific held the largest market share of XX.X% in the year 2019 owing t- the favorable consumer preferences along with the presence of a large number of service providers in the region are few factors accounting for the significant growth. One of the reasons for growth over the forecast period is als- expected t- be the shifts from analogue t- digital systems. Growing demands from countries such as China and India are als- expected t- see substantial growth over the forecast period due t- changing customer needs and disposable income. Besides, government-driven initiatives such as Make in India and Digital India are expected t- increase the penetration of smartphones and other consumer electronics in the country, resulting in increasing industry demand.

Competitive landscape:

The Mobile Wallet market, which is highly competitive, consists of several major players. Companies, such as Apple Inc (U.S), American Express Company (U.S), Alipay (China), Bharti Airtel Limited Incorporated hold a substantial market share in the Mobile Wallet market. Other players analysed in this report are AMERICAN EXPRESS COMPANY, PayPal Holdings Inc., Google Inc., Visa Inc., Square Inc. LevelUp Inc., Apple Inc., MasterCard Incorporated, BlackBerry Limited, and Samsung Electronics Co. Ltd.

Mobile Wallet Market is further segmented by region into:

North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - United States and Canada

Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - Mexico, Argentina, Brazil, and Rest of Latin America

Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe

APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC

MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - North Africa, Israel, GCC, South Africa, and Rest of MENA

Mobile Wallet Market report als- contains analysis on:

Mobile Wallet Market Segments:

By Product:

Proximity

Remote

Mode of Payment:

SMS

NFC

WAP

Others

By Application:

Retail

Vending Machine

Public Transportation

Restaurants

Others

Mobile Wallet Market Dynamics

Mobile Wallet Market Size

Supply & Demand

Current Trends/Issues/Challenges

Competition & Companies Involved in the Market

Value Chain of the Market

Market Drivers and Restraints

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 2019 - 2020 and Forecasts to 2030

Table of Contents

1. Executive Summary
2. Mobile Wallet Market
1. Product Overview
2. Market Definition
3. Segmentation
4. Assumptions and Acronyms
3. Research Methodology
1. Research Objectives
2. Primary Research
3. Secondary Research
4. Forecast Model
5. Market Size Estimation
4. Average Pricing Analysis
5. Macro-Economic Indicators
6. Market Dynamics
1. Growth Drivers
2. Restraints
3. Opportunity
4. Trends
7. Correlation & Regression Analysis
1. Correlation Matrix
2. Regression Matrix
8. Recent Development, Policies & Regulatory Landscape
9. Risk Analysis
1. Demand Risk Analysis
2. Supply Risk Analysis
10. Mobile Wallet Market Analysis
1. Porters Five Forces
1. Threat of New Entrants
2. Bargaining Power of Suppliers
3. Threat of Substitutes
4. Rivalry
2. PEST Analysis
1. Political
2. Economic
3. Social
4. Technological
11. Mobile Wallet Market
1. Market Size & forecast, 2020A-2030F
1. By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
2. By Volume (Million Units) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12. Mobile Wallet Market: Market Segmentation
1. By Regions
1. North America:(U.S. and Canada), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
2. Latin America: (Brazil, Mexico, Argentina, Rest of Latin America), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
3. Europe: (Germany, UK, France, Italy, Spain, BENELUX, NORDIC, Hungary, Poland, Turkey, Russia, Rest of Europe), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
4. Asia-Pacific: (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia Pacific), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
5. Middle East and Africa: (Israel, GCC, North Africa, South Africa, Rest of Middle East and Africa), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
2. By Product: Market Share (2020-2030F)
1. Proximity, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
2. Remote, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
3. By Mode of Payment: Market Share (2020-2030F)
1. SMS, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
2. NFC, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
3. WAP, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
4. Others, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
4. By Application: Market Share (2020-2030F)
1. Retail, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
2. Vending Machine, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
3. Public Transportation, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
4. Restaurants, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
Company Profile
1. Amazon Web Services Inc.
1. Company Overview
2. Company Total Revenue (Financials)
3. Market Potential
4. Global Presence
5. Key Performance Indicators
6. SWOT Analysis
7. Product Launch
2. American Express Banking Corp.
3. Apple Inc.
4. Alipay.com
5. AT&T Inc.
6. Google Inc.
7. Mastercard Incorporated
8. PayPal Holdings, Inc.
9. Samsung Electronics Co., Ltd
10. VISA Inc.
11. Other Prominent Players
Consultant Recommendation
**The above-given segmentations and companies could be subjected to further modification based on in-depth feasibility studies conducted for the final deliverable.
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