Mobile Wallet Market Size, Share 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 – Market Trends, Analysis and Forecast till 2034

The regions that make up the worldwide mobile wallet market are Latin America, North America, Europe, Asia Pacific, and the Middle East and Africa. With a 60% market share in mobile wallets in 2018, Asia Pacific led the way, thanks to the rise of e-commerce sites like Alibaba and Flipkart. The market is expanding due to encouraging government activities to promote the adoption of digital payment methods. The region is seeing a rise in smartphone ownership and technological improvements in connectivity infrastructure, also promoting mobile wallets' use. Over the projection period, North America's mobile wallet industry is expected to develop at a compound annual growth rate (CAGR) of 18%. Evolving customer preferences are driving the use of diverse mobile banking solutions by financial and commercial enterprises.