Mobile Wallet Market (Mode of Payment - Remote Payment, and NFC Payment; Stakeholders - Software Developers and Cloud Computing, Content and Applications Aggregators, Mobile Network Operators (MNOS), Handset and Other Hardware Solution Manufacturers, OSS/BSS Solution Providers, and Other Stakeholders; Application - Mobile Commerce Market, Mobile Ticketing Market, Mobile Coupons Market, Mobile Transfers Market, and Micropayments): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025. According to the report, the global mobile wallet market is projected to grow at a CAGR of 34.1% over the forecast period of 2019-2025.
Pune, India -- (SBWIRE) -- 04/29/2019 -- The latest report on Mobile Wallet Market by Infinium Global Research gives complete coverage of the mobile wallet market by payment (remote, NFC payment), stakeholders (software developers, cloud computing, mobile network operators, handset, OSS/BSS solution providers), application (mobile ticketing market, mobile coupons market, mobile transfers market) in terms of key trends, market size, forecast and CAGR growth over the period of 2019 to 2025. In addition, the study covers deep dive into key product and applications trends in the regional markets of mobile wallet such as North America, Europe, Asia-Pacific and Latin America over the short run and long run.
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Mobile Wallet Market: Industry Insights
Mobile wallet is a type of payment service virtual wallet through which individual and business money transaction can be done. Mobile wallet is also called as mWallet, eWallet, or digital wallet which is used for the online send or receive money. The mobile wallet consists of both mobile wallet systems and mobile wallet devices. The software provides security and encryption for the private information and for the particular transaction. Mobile wallet includes mobile web payments, mobile-based billing, SMS-b
ased transactions and near-field communications (NFC).
Mobile Wallet Market: Drivers and Restraints
An increasing number of users for smartphone and rise in e-commerce across the globe boost the growth of the global mobile wallet market. An increasing number of online shopping platforms or portals tend to rise the mobile wallet market. Surging adoption of emerging technologies and development in the smartphone is the driving factor for the global mobile wallet market. On the other hand, an increasing number of cyber-attacks worldwide may hinder the growth of the mobile wallet market. Lack of security and privacy for the mobile wallet may hamper the growth of the mobile wallet market.
Mobile Wallet Market: Segmentation
Mobile Wallet Market is segmented on the basis of Application, Mode of payment, and Stakeholders. Application is further segmented into Mobile Commerce, Mobile Ticketing, Mobile Coupons, Mobile Transfers, and Micropayments in which mobile transfer holds the highest market share due to an increasing number of users for smartphone and development of many online payment applications. By mode of payment, it is bifurcated into Remote Payment and NFC Payment. NFC holds the highest market share in the Mobile Wallet Market because increasing demand for smart devices and the adoption of NFC in the hospitality sector tends to the growth of the mobile wallet market. Stakeholders are segmented into Software Developers and Cloud Computing, Content and Applications Aggregators, Mobile Network Operators (MNOs), Handset and other Hardware Solution Manufacturers, OSS/BSS Solution Providers, and other stakeholders.
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Mobile Wallet Market: Regional Insights
Mobile Wallet Market is segmented regionally into North America, Europe, Asia-Pacific and Rest of World (RoW). Asia-Pacific holds the highest market in the Global Mobile Wallet Market due to the increasing number of smartphone users and e-commerce platforms like Alibaba, Amazon, and Flipkart. In Asia-Pacific, China dominates the market followed by India and Japan. North America is expected to grow with the significant CAGR during 2018-2025. Increase in adoption of mobile banking solutions by many marketers in the North America region.
Mobile Wallet Market: Competitive Analysis
The global mobile wallet market comprises with the players American Express Company, Apple Inc., AT&T Inc., BlackBerry Limited, First Data Corporation, Alphabet Inc. (Google), Sprint Corporation, Samsung Electronics Co., Ltd., MasterCard Incorporated, Visa Inc. Product innovation and acquisitions & mergers are the key parameters to remain competitive and to gain greater market share.
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