The global mobile wallet market exhibited strong growth during 2015-2020. Looking forward, the publisher expects the market to grow at a CAGR of 20% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
A mobile wallet refers to a virtual wallet that stores credit card, debit card, loyalty card, coupons and reward card information on a mobile device. It is a convenient way for users to make in-store payments and pay merchants listed with the mobile wallet service providers. Google Pay, Apple Pay, and Amazon Pay are commonly used mobile wallets across the world. Mobile wallets are accessible through applications that are built-in or installed on smartphones and tablets. They store the payment information of the user by linking a personal identification format, including a key, QR code, or an image of the user. In recent years, mobile wallets have gained traction as they are a convenient mode of payment that can be used at any location and time.
A mobile wallet refers to a virtual wallet that stores credit card, debit card, loyalty card, coupons and reward card information on a mobile device. It is a convenient way for users to make in-store payments and pay merchants listed with the mobile wallet service providers. Google Pay, Apple Pay, and Amazon Pay are commonly used mobile wallets across the world. Mobile wallets are accessible through applications that are built-in or installed on smartphones and tablets. They store the payment information of the user by linking a personal identification format, including a key, QR code, or an image of the user. In recent years, mobile wallets have gained traction as they are a convenient mode of payment that can be used at any location and time.
Mobile Wallet Market Trends:
The global mobile wallet market is primarily driven by the rising smartphone adoption and the increasing penetration of the internet. Besides this, the expanding e-commerce platforms are providing transaction facilities through mobile wallets, thereby propelling the market growth. They are also offering a new dimension to retail sales to improve their business presence by connecting merchants and financial institutions to communicate promotional schemes and other relevant interests. Besides this, key players are collaborating with banks, vendors, and payment service providers to develop the payment infrastructure for enhancing the user experience. For instance, market players are offering features like mobile vouchers, digital loyalty schemes, digital charity boxes, and dynamic currency conversion to promote cashless payments via mobile wallets.Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global mobile wallet market, along with forecasts at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, type and application.Breakup by Type:
- Proximity
- Remote
Breakup by Application:
- Retail
- Hospitality and Transportation
- Telecommunication
- Healthcare
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Alipay.com (Alibaba Group Holding Limited), Amazon Web Services Inc. (Amazon.com Inc), American Express Company, Apple Inc., Google LLC (Alphabet Inc.), Mastercard Incorporated, Paypal Holdings Inc., Samsung Electronics Co. Ltd., Squareup Pte. Ltd. and Visa Inc.Key Questions Answered in This Report:
- How has the global mobile wallet market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global mobile wallet market?
- What are the key regional markets?
- What is the breakup of the market based on the type?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global mobile wallet market and who are the key players?
- What is the degree of competition in the industry?
Table of Contents
1 Preface3 Executive Summary10 Value Chain Analysis12 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Mobile Wallet Market
6 Market Breakup by Type
7 Market Breakup by Application
8 Market Breakup by Region
9 SWOT Analysis
11 Porters Five Forces Analysis
13 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
Alipay.com (Alibaba Group Holding Limited)- Amazon Web Services Inc. (Amazon.com Inc)
- American Express Company
- Apple Inc.
- Google LLC (Alphabet Inc.)
- Mastercard Incorporated
- Paypal Holdings Inc.
- Samsung Electronics Co. Ltd.
- Squareup Pte. Ltd.
- Visa Inc.
Methodology
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