Mobile Wallet Market, By Mode of Payment (Remote Payment and Near-field Communication Payment (NFC)), By Application (M-commerce, Mobile Tracking, Mobile Coupon, Mobile Transfer, and Micropayments), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2027.

Report Code: PMI433420 | Publish Date: May 2023 | No. of Pages: 168

Global Mobile Wallet Market Overview

Mobile Wallet Market, also recognized as m-payment, mobile money transfer, mobile money, or mobile payments, are transactions made using mobile devices. It is the transactions made using mobile device rather than paying through cash, physical credit cards or checks.  Mobile wallet payment can be used as a substitute to credit cards as it is more secure and convenient.

Global Mobile Wallet Market Dynamics

Increasing penetration of smartphones globally

Rising penetration of smartphones is promoting the growth of the mobile wallet market globally. Rapid growth in the adoption of smart devices have been witnessed, over the past decade. There were above 2.26 billion smartphones in 2017 worldwide. It is predicted that by 2025, smartphones will estimate for about 77% internet-enabled devices.  As smartphones adoption is growing, the trend of using financial services on mobile devices is also witnessing momentum due to cost-effectiveness and convenience. This has encouraged technology players and financial establishments to meet the rising demand for mobile applications to deliver payment services. 

Growth in e-commerce services

Growth in various e-commerce platforms is also propelling the e-wallet market growth. As per 2018, above 1.5 billion customers shopped online. By 2020, the number of online customers is projected to account for about 2.5 billion. With the increase in internet coverage and evolution of global e-commerce worldwide, the ways of payment have also evolved. Consumers focus to buy the goods they like from anywhere across the globe in an effective, fast, and simple manner. This is driving the application of mobile wallets across various e-commerce platforms.

Conversely, growing concerns associated with data breach or data security along with high cost of mobile wallet technology limits growth of the target market.

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Global Mobile Wallet Market Segmentation

The global mobile wallet market is segmented based on mode of payment, application, and region.

On the basis of mode of payment, the global mobile wallet market is segmented into remote payment and near-field communication payment (NFC). On the basis of Application, the target market is classified into M-commerce, mobile tracking, mobile coupon, mobile transfer, and micropayments.

Regional Insights:

Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.

On region the global mobile wallet market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific led the mobile wallet market with a 60% share of the overall market in 2018, owing to growing number of e-commerce platforms including Alibaba and Flipkart. Promising initiatives undertaken by the government to encourage the use of digital payment channels are also boosting the growth of the market. Technological advancements in connectivity infrastructure and explosion in several smartphone owners is also encouraging the use of mobile wallets in the region. The mobile wallet market in North America will grow at a CAGR of 18% over the forecast period. Changing customer preferences are fueling financial & commercial establishments to undertake various mobile banking solutions.

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Report Scope:

Attribute

Details

Base year for estimation

2019

Forecast period

2019 – 2027

Market representation

Revenue in USD Million & CAGR from 2019 – 2027

Market Segmentation

By Mode of Payment - Remote Payment and Near-field Communication Payment (NFC)

By Application- M-commerce, Mobile Tracking, Mobile Coupon, Mobile Transfer, and Micropayments

Regional scope

North America - U.S., Canada

Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe

Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific

Latin America - Brazil, Mexico, Argentina, Rest of Latin America

Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest application trends and opportunities in each of the sub-segments from 2019 to 2027. For the purpose of this study, has segmented the global mobile wallet market report based on mode of payment, application, and region.

Global Mobile Wallet Market, By Mode of Payment:

  • Remote Payment
  • Near-field Communication Payment (NFC)

Global Mobile Wallet Market, By Application:

  • M-commerce
  • Mobile Tracking
  • Mobile Coupon
  • Mobile Transfer
  • Micropayments

Global Mobile Wallet Market, By Region:

      • North America
          • U.S.
          • Canada
      • Europe
          • Germany
          • UK
          • France
          • Russia
          • Italy
          • Rest of Europe
      • Asia Pacific
          • China
          • India
          • Japan
          • South Korea
          • Rest of Asia Pacific
      • Latin America
          • Brazil
          • Mexico
          • Rest of Latin America
      • Middle East & Africa
          • GCC
          • Israel
          • South Africa
          • Rest of Middle East & Africa

Global Mobile Wallet Market Key Players

The key players operating the global mobile wallet market includes Amazon Web Services Inc., American Express Banking Corp., PayPal Holdings, Inc., Apple Inc., Google Inc., Mastercard Incorporated, Alipay.com, AT&T Inc., Samsung Electronics Co., Ltd., and VISA Inc.  Companies involved in the target market focusing on launching new strategies in order to provide a convenient and secure services to customers. For instance, in December 2017, JP Morgan Chase acquired WePay, a fintech start-up to integrate its API solution that can handle fraud detection, payment processing, and complex payouts in its product offerings.

Global Mobile Wallet Market Company Profile

  • Amazon Web Services Inc.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Overview
    • Business Strategies
  • American Express Banking Corp.
  • PayPal Holdings, Inc.
  • Apple Inc.
  • Google Inc.
  • Mastercard Incorporated
  • Alipay.com
  • AT&T Inc.
  • Samsung Electronics Co., Ltd.
  • VISA Inc.

“*” marked represents similar segmentation in other categories in the respective section

Global Mobile Wallet Market Table of Contents

  1. Research Objective and Assumption
    • Preface
    • Research Objectives
    • Study Scope
    • Years Considered for the study
    • Assumptions
    • Abbreviations
  2. Research Methodology
    • Research data
    • Primary Data
      • Primary Interviews
      • Primary Breakdown
      • Key data from Primary Sources
      • Key Thickness Insights
    • Secondary Data
      • Major Secondary Sources
      • Secondary Sources
    • Market Estimation
    • Top-Down Approach
      • Approach for estimating Market Share by Top-Down Analysis (Supply Side)
    • Bottom-Up Approach
      • Approach for estimating market share by Bottom-up Analysis (Demand Side)
    • Market Breakdown and Data Triangulation
    • Research Assumptions
  3. Market Purview
    • Executive Summary
    • Key Findings—Global Outlook for Mobile Wallet Strategies
      • Key Questions this Study will Answer
      • Market Snippet, By Mode of Payment
      • Market Snippet, By Application
      • Market Snippet, By Region
    • Opportunity Map Analysis
    • Executive Summary—3 Big Predictions
  4. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
      • Market Trends
    • DR Impact Analysis
    • PEST Analysis
    • Porter’s Five Forces Analysis
    • Opportunity Orbit
    • Market Investment Feasibility Index
    • Macroeconomic Factor Analysis
  5. Global Mobile Wallet Market, By Mode of Payment, 2019 – 2027, (US$ Mn)
    • Overview
      • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 – 2027
      • Y-o-Y Growth Analysis (%), 2019 – 2027
      • Segment Trends
    • Remote Payment
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2027
    • Near-field Communication Payment (NFC)
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2027
  6. Global Mobile Wallet Market, By Application, 2019 – 2027, (US$ Mn)
    • Overview
      • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 – 2027
      • Y-o-Y Growth Analysis (%), 2019 – 2027
      • Segment Trends
    • M-commerce
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2027
    • Mobile Tracking
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2027
    • Mobile Coupon
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2027
    • Mobile Transfer
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2027
    • Micropayments
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2027
  7. Global Mobile Wallet Market, By Region, 2019 – 2027, (US$ Mn)
    • Overview
      • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 – 2027
      • Y-o-Y Growth Analysis (%), 2019 – 2027
      • Regional Trends
    • North America
      • Market Size and Forecast (US$ Mn), By Mode of Payment, 2019 – 2027
      • Market Size and Forecast (US$ Mn), By Application, 2019 – 2027
      • Market Size and Forecast (US$ Mn), By Country, 2019 – 2027
        • U.S.
        • Canada
    • Europe
      • Market Size and Forecast (US$ Mn), By Mode of Payment, 2019 – 2027
      • Market Size and Forecast (US$ Mn), By Application, 2019 – 2027
      • Market Size and Forecast (US$ Mn), By Country, 2019 – 2027
        • Germany
        • UK
        • France
        • Russia
        • Italy
        • Rest of Europe
    • Asia Pacific
      • Market Size and Forecast (US$ Mn), By Mode of Payment, 2019 – 2027
      • Market Size and Forecast (US$ Mn), By Application, 2019 – 2027
      • Market Size and Forecast (US$ Mn), By Country, 2019 – 2027
        • China
        • India
        • Japan
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Market Size and Forecast (US$ Mn), By Mode of Payment, 2019 – 2027
      • Market Size and Forecast (US$ Mn), By Application, 2019 – 2027
      • Market Size  and Forecast (US$ Mn), By Country, 2019 – 2027
        • Brazil
        • Mexico
        • Rest of Latin America
    • Middle East & Africa
      • Market Size and Forecast (US$ Mn), By Mode of Payment, 2019 – 2027
      • Market Size and Forecast (US$ Mn), By Application, 2019 – 2027
      • Market Size and Forecast (US$ Mn), By Country, 2019 – 2027
        • GCC
        • Israel
        • South Africa
        • Rest of Middle East
  8. Competitive Landscape
    • Heat Map Analysis
    • Market Presence and Specificity Analysis
  9. Company Profiles
      • Amazon Web Services Inc.
        • Company Overview
        • Product Portfolio
        • Key Highlights
        • Financial Overview
        • Business Strategies
      • American Express Banking Corp.
      • PayPal Holdings, Inc.
      • Apple Inc.
      • Google Inc.
      • Mastercard Incorporated
      • Alipay.com
      • AT&T Inc.
      • Samsung Electronics Co., Ltd.
      • VISA Inc.
  10. The Last Word
    • Future Impact
    • About Us
    • Contact

FAQs

The global mobile wallet market is segmented based on mode of payment, application, and region.

Growth in various e-commerce platforms is also propelling the e-wallet market growth. As per 2018, above 1.5 billion customers shopped online. Conversely, growing concerns associated with data breach or data security along with high cost of mobile wallet technology limits growth of the target market.

On region the global mobile wallet market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific led the mobile wallet market with a 60% share of the overall market in 2018, owing to growing number of e-commerce platforms including Alibaba and Flipkart.

Amazon Web Services Inc., American Express Banking Corp., PayPal Holdings, Inc., Apple Inc., Google Inc., Mastercard Incorporated, Alipay.com, AT&T Inc., Samsung Electronics Co., Ltd., and VISA Inc.