Mobile Wallet Market

The global mobile wallet market is primarily driven by the rising smartphone adoption and the increasing penetration of the internet.

PORTLAND, PORTLAND, OR, UNITED STATES, March 7, 2022 /EINPresswire.com/ -- According to the report, the global mobile wallet market was pegged at $1,043.1 billion in 2019, and is projected to reach $7,580.1 billion by 2027, growing at a CAGR of 28.2% from 2020 to 2027.

An increase in the number of mobile subscribers across the globe, rise in the adoption of mobile wallet as a digital payment-based business model among digital applications, and an upsurge in government initiatives to drive a cashless economy fuel the growth of the global mobile wallet market.

On the other hand, concerns associated with fraudulence transactions and data security restrain the growth to a certain extent. Nevertheless, an increase in usage of mobile point of sale (POS) devices and NFC-enabled handsets and growing inclination toward mobile banking & inventive mobile payment application are anticipated to pave the way for numerous opportunities in the industry.

Download Sample Report (Get Full Insights in PDF - 316 Pages) at: https://www.alliedmarketresearch.com/request-sample/84

By type, the remote segment held the largest share in 2019, accounting for nearly three-fifths of the global mobile wallet market, owing to the high popularity of smartphones and the rise in the trend of purchasing digital and physical goods via mobile wallet accounts.

However, the proximal segment is expected to register the highest CAGR of 29.8% during the forecast period, due to the increase in the number of smartphone users along with the emergence of NFC-equipped devices for transport ticketing purposes.

By application, the telecommunication segment is expected to register the highest CAGR of 35.0% during the study period. However, the retail segment held the largest share in 2019, accounting for more than one-third of the global mobile wallet market, due to the emergence of e-commerce in developing countries.

The market across Asia-Pacific held the largest share in 2019, contributing to more than two-fifths of the market. Moreover, the region is expected to register the highest CAGR of 30.5% during the forecast period, owing to the drastic shift to digitalization and internet capabilities in the region. On the other hand, the global mobile wallet market across North America held more than one-fourth of the market in 2019.

The key market players analyzed in the global mobile wallet market report include American Express Banking Corp., Alipay.com, VISA Inc., Apple Inc., AT&T Inc., Google Inc., Mastercard Incorporated, PayPal Holdings, Inc., Amazon Web Services Inc., and Samsung Electronics Co., Ltd. These market players have adhered to several strategies including partnership, expansion, collaboration, joint ventures, and others to corroborate their stand in the industry.

For Purchase Enquiry: https://www.alliedmarketresearch.com/purchase-enquiry/84

Thanks for reading this article; you can also get an individual chapter-wise section or region-wise report versions like North America, Europe, or Asia.

If you have any special requirements, please let us know and we will offer you the report as per your requirements.

Lastly, this report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market.

Related Reports:

1. Mobile Advertising Market

2. Payment Processing Software Market

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

AMR launched its user-based online library of reports and company profiles, Avenue. An e-access library is accessible from any device, anywhere, and at any time for entrepreneurs, stakeholders, and researchers and students at universities. With reports on more than 60,000 niche markets with data comprising of 600,000 pages along with company profiles on more than 12,000 firms, Avenue offers access to the entire repository of information through subscriptions. A hassle-free solution to clients’ requirements is complemented with analyst support and customization requests.

David Correa
Allied Analytics LLP
800-792-5285
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.