Mobile Wallet (NFC and Remote Payment) Market : Global Industry Perspective, Comprehensive Analysis and Forecast, 2014 - 2020
Deerfield Beach, FL -- (SBWIRE) -- 06/19/2017 -- Zion Market Research has published a new report titled "Mobile Wallet (NFC and Remote Payment) Market: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2014 - 2020." According to the report, global demand for mobile wallet market was valued at USD 500 billion in 2014 and is expected to reach USD 2,500 billion in 2020, growing at a CAGR of approximately 30% between 2015 and 2020.
The mobile wallet is an innovative technological feature that is equivalent to the physical wallet used to hold money. It is an online interface which permits the user to deposit money similarly to the bank account. Therefore, it is essential to have an account with a mobile wallet provider. This account holds debit, credit, an online transaction from the bank account or via cash (a recharge kiosk). The mobile wallet is very beneficial as it offers the fast transactions process, it saves time and provides comfort and ease to the end-user.
Request For free Sample Report: https://goo.gl/B5LXXk
The mobile wallet market is mainly driven by the growing demand for the smart phones use and the entry of new players in this market. Another major driving factor is increasing working population engaged in the banking and on-line buying of products, discounts offered by companies to draw in customers in festive seasons for purchase through mobile wallet and growth of service portfolios by the enterprises. Owing to this, mobile wallet market is expected to exhibit strong growth during the years to come.
The mobile wallet market is segmented on the basis of different types of mobile wallet products such as near field communications NFC and remote payment. The NFC dominated the market with over 50% share in total revenue generated in 2014 and is expected to be the fastest growing segment over the forecast period.
Request For Free Price Quotations https://goo.gl/Ehq46g
The mobile payment mode dominated application segment and were accounted for large chunk of the mobile wallet market in 2014. Furthermore, the OSS/BSS solution providers are expected to witness the fastest CAGR during the forecast period. This is attributed to the constant improvement of mobile wallet in NFC technology. Moreover, the money transfer transactions contributed to the largest share accounted for over 30% of share in total revenue generated in the mobile wallet market, followed by recharge & bill payments and utilities segment respectively.North America dominated the mobile wallet market and accounted for over 25% share of the total revenue generated in 2014. The mobile wallet market in the
North America dominated the mobile wallet market and accounted for over 25% share of the total revenue generated in 2014. The mobile wallet market in the Asia Pacific region is expected to exhibit strong growth in the years to come. Despite its promising future, the mobile wallet market segment is facing challenges like different cash transfer channels, lack of awareness, stringent policies, low margins and poor web connectivity in several areas.
Some of the key industry participants in global mobile wallet market include, American Express, Apple Inc., MasterCard, Visa, AT&T, Sprint, First Data, BlackBerry, Samsung, Google and others.
Browse detail report at http://www.marketresearchstore.com/report/mobile-wallet-market-nfc-and-remote-payment-z37621
About Zion Market Research
Zion Market Research is an obligated company. We create futuristic, cutting edge, informative reports ranging from industry reports, company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with Vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from Cardinal Industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client's needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.
3422 SW 15 Street,Suite #8138
Deerfield Beach, Florida 33442
Toll Free: +1-855-465-4651 (USA-CANADA)
Visit Our Blog: https://marketresearchstore2017.wordpress.com