The global mobile wallet market is projected to grow at a significant CAGR during the forecast period (2020-2026). There are a variety of pivotal factors that are driving the market growth including a global increase in smartphone users, increasing internet users, favorable government policies, and technological advancement. Other factors include the rising growth of the e-commerce market, increasing availability of VoLTE, the rapid proliferation of expensive smartphones, and a huge unbanked population across the globe. The growing e-commerce industries, internet users, and smartphone adoption boosted online transactions, online shopping, online ticket booking, and online money transfer across the globe.
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Unbanked population, online shopping, and person-to-person money transfer triggered the growth of the global mobile wallet market in emerging economies. Low-middle income economies such as Africa have the most populous unbanked population creating huge scope for mobile wallet companies such as M-Pesa. The rigidity of banks and stringent government rules and policies enabled the global mobile wallet to grow significantly in low-middle income countries such as Africa and Nigeria. Emerging economies such as India, China, and Brazil are expected to contribute significantly to the global mobile wallet market growth. Numerous start-ups and banks are entering into mobile wallet market which is creating huge opportunities for the market.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Mobile Wallet Market Report Segment
By Application
- Restaurant
- Retail
- Public Transport
- Others
By Mode of Payments
- Proximity Payment
- Remote Payment
Global Mobile Wallet Market Report Segment by Region
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East and Africa
The Report Covers
- Market value data analysis of 2019 and forecast to 2026.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global Mobile Wallet market. Based on the availability of data, information related to new Application launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying who-stands-where in the market.
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