Global Mobile Wallet Market - Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2020-2027

According to the latest report by GMI Research, Mobile Wallet Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2020-2027. The mobile wallet market illustrates the impact of the COVID-19 pandemic and concludes that the market is expected to bounce back in 2021 over 2020 while growing at a higher growth rate from 2022 onwards. Mobile Wallet refers to the digitized version of a physical wallet, which can be operated through a mobile application having in-built features. This wallet stores the digital information of the credit and debit cards for making payments. It is a service through which the customers can send and receive money using digital modes.
Competitive Landscape: The mobile wallet market report also scans the competitive landscape and profiles the major players operating in the market, including One97 communications, Apple Inc., Samsung Electronics Co., Ltd., Sprint Corporation, American Express, Visa Inc., MasterCard Incorporated, First Data Corporation, Blackberry Ltd., and AT&T Inc.
The significant factors driving the growth of the global mobile wallet market include the growing penetration of smartphone users and increasing awareness regarding the use of mobile wallets. The global mobile wallet market is expected to grow at a considerable rate owing to its quick access to payment features, improved cash flow, and convenience for the customers as compared to the past situation when the people used to carry liquid-currency.
Due to the announcement of demonetization in India, the market has experienced strong growth as a result of the increasing emphasis on digital payments across the country. The increasing number of online transaction, and rapidly increasing internet penetrations also act as a vital factor for the expansion in the mobile wallet market share in terms of revenue. Additionally, the increasing research & development activities (R&D) for the development of technologically advanced products and the adoption of attractive mobile wallet marketing strategies to capture more customer base will further energize the demand of the market.
The ongoing spread of the COVID-19 has become one of the biggest threats to the global economy and is impacting the market of mobile wallets as well. The digital payment volume has surged, especially for online grocery stores, online pharmacies, online gaming, recharges, OTT players (Telecom and media), and bill payments. This drastic rise is a result of the increasing emphasis on maintaining social distancing, staying home, and avoiding physical contact with each other. All these factors indicate that the market is expected to have strong growth, specifically in 2020, due to the coronavirus crisis.
For further information on these analyses, please visit:
Market Segments:
Breakup by Type:
  • Open
  • Semi-Closed
  • Closed
Breakup by Technology:
  • Near Field Communication (NFC)
  • QR Code
  • WAP
  • Text Based
Breakup by Application:
  • Retail
  • E-Commerce
  • Transportation
  • Telecom
  • Banking
  • Others
Breakup by Region:
  • North America
    • United States of America
    • Canada
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting firm which provides bespoke industry & market research to help businesses in making the toughest business decision. We know the significance of accurate data; that’s why our analyst use tailored methodology to study every market in detail because one size doesn’t fit all. We not only cover the traditional well-established market but also focuses on niche market and markets in the emerging economies, where getting data and information is a challenge. This factor makes us pioneer in emerging market research space. Our syndicate reports cover multiple industries across various regions and countries.
Our in-depth market reports help propel your business with all the data, strategic inputs, and competitive intelligence to move ahead even in the most uncertain times. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research look forward to help businesses stay ahead of the curve.

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