Industry Size, Competitive Landscape, Business Opportunities and Forecasts – Designer Women

According to the latest report of the IMARC group titled “Mobile Wallet Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which includes information on mobile wallet market share. The report also includes competitor and regional analysis, as well as contemporary advancements in the global market. The global mobile wallet market reached a value of US$120 billion in 2021. Looking ahead, IMARC Group expects the market to reach US$336.2 billion by 2027, growing at a CAGR of 18.6% during the period 2022-2027.

Mobile Wallet is an online application and software that helps individuals make digital payments over the Internet. Additionally, it involves the use of Near Field Communication (NFC) chips and QR code technologies that facilitate the exchange of digital content while securing the transaction process. It is usually accessed through installed or built-in applications that allow users to store debit and credit card details. As a result, it provides increased convenience, safer shopping experience, wide range of uses and easy access along with cashback and discount coupons, thanks to which it is gaining popularity among the masses.

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The rapid outbreak of Coronavirus (COVID-19) followed by its lockdown has significantly supported the market growth as consumers now prefer mobile wallets to make payments to avoid physical contact to prevent disease transmission . Along with considerable improvements in e-commerce infrastructure, this has increased the preference for online shopping due to the mandatory closure of physical retail stores. Additionally, the integration of bill payment features with mobile wallet apps has had a favorable impact on the market.

The global market is mainly driven by the growing penetration of high-speed internet connectivity. Coupled with the growing adoption rates of tablets and smartphones among the masses, this creates a positive outlook for the market. Along with this, continuous improvements in the information technology (IT) and finance sectors are also boosting the growth of the market. Furthermore, the sudden outbreak of the coronavirus disease (COVID-19) has facilitated the adoption of digital payment methods with the aim of maintaining social distancing and minimizing the spread of the virus, thereby positively influencing the growth of the market. worldwide. In this light, increase in government initiatives to promote cashless payments through mobile wallets is also driving the market growth. Other factors including rapid digitization, growing investments by key players to develop robust marketing strategies and celebrity endorsements, and improving e-commerce infrastructure are also expected to further boost the market.

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Competitive landscape with key players:

The report has also analyzed the competitive landscape of the market with some of the key players.

  • Alipaycom (Alibaba Group Holding Limited)
  • Amazon Web Services Inc. ( Inc.)
  • American Express Company
  • Apple Inc.
  • Google LLC (Alphabet Inc.)
  • Mastercard Incorporated
  • PayPal Holdings Inc.
  • Samsung Electronics Co.Ltd.
  • Squareup Pte. ltd.
  • Visa Inc.

Mobile Wallet Market Segmentation:

Our report has categorized the market based on region, type, and application.

Breakdown by type:

Breakdown by application:

  • Detail
  • Reception and transportation
  • Telecommunication
  • Health care
  • Others

Breakdown by region:

  • North America (USA, Canada)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Others)
  • Asia-Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
  • Latin America (Brazil, Mexico, others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)

Main highlights of the report:

  • Market Performance (2016-2021)
  • Market Outlook (2022-2027)
  • Porter’s Five Forces Analysis
  • Market drivers and success factors
  • SWOT analysis
  • Value chain
  • Complete mapping of the competitive landscape

We update our reports, if you want the latest primary and secondary data (2022-2027) with cost module, business strategy, competitive landscape, etc. Click request a free sample report, the report will be emailed to you in PDF format within 24-48 hours of payment confirmation.

About Us

The IMARC Group is a leading market research firm providing management strategies and market research worldwide. We partner with clients across all industries and geographies to identify their most important opportunities, address their most critical challenges and transform their businesses.

IMARC’s information products include major business, scientific, economic and technological developments for business leaders in pharmaceutical, industrial and high-tech organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverages, travel and tourism, nanotechnology and new processing methods are at the top of the list. company expertise.

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