Market Research Future published a research report on “Mobile Wallet Market Research Report - Global Forecast to 2022” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2022.

Pune, India - May 7, 2019 /MarketersMedia/ —

Market Highlights

Smartphone industry has seen the tremendous growth in the last couple of year and expected to grow significantly in coming years. The countries like India, China and U.S. are some of the major countries which holds more than 40-50% of the share of the mobile market. Advancement of the mobile technology and increasing the trend of the online payment among the current generation are driving the Mobile Wallet Market. Over the next couple of the year online payment will be take over the tradition payment due to the government initiation for cashless economy and the growing awareness about the mobile wallet for the money transaction.

NFC transaction is a new trend of the mobile wallet technology is expected to capture the market. NFC transaction have various benefit over traditional payments such as convenience, versatility and safety. Mobile wallet stores all the needed information of the credit and debit card which are necessary for the transaction. Even in case of the mobile phone is stolen intruder cant access the information as it is protected by the password and other security. NFC is adapted in all situations such as banking, movie pass purchase, transit passes and others. These are the benefit which are makes it suitable in wide range of industries.

With the advancement in technology, mobile wallet are used to track down of all the transaction necessary such as prescriptions, medicines purchase, doctors and book appointments in health care sector. Hospitals can track down the patient’s information of every visits, prescribed medicines can be recommended. Mobile wallet helps to manage all the transaction between doctor and patients. Hence, adoption of the mobile wallet in the health care system is expected to boost the market.

The global mobile wallet market is expected to grow at CAGR of 40% and estimated to reach at market size of US ~$5 billion by the end of forecast period.

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Segmental Analysis:

MRFR, in an attempt to get closer to the mobile wallet market, segments it by mode of payment and application. This analysis helps the report provide a better predictive analysis of the market.

Based on the mode of payment, the global mobile wallet market can be segmented into payment and application. The payment segment includes remote payment, NFC and others. In the burgeoning of e-commerce segment, the remote payment sub-segment is getting enough traction to grow substantially.

By application, the mobile wallet market comprises commerce market, ticketing market, mobile coupon, mobile transfer, micro payment and others. The ticketing market segment is getting considerable thrust from travel and tourism sector. At the same time, entertainment sector is also bolstering the segment’s market claims.

Key Players

The major players operating in the market of mobile wallet are- American Express (U.S.), Apple Inc. (U.S.), AT&T INC.(U.S.), Blackberry Ltd. (Canada), First Data Corporation (U.S.), Google Inc. (U.S.), Sprint Corporation (U.S.), Samsung Electronics Co., Ltd. (South Korea), MasterCard Incorporated (U.S.), and Visa Inc (U.S.) among others.

Regional Analysis:

Geographically, MRFR studies the mobile wallet market by including regions, namely, North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW). This type of study reveals growth pockets with details for a better predictive analysis.

The APAC region is leading the segment owing to a huge population switching to mobile wallet system. Countries such as India and China have a high number of smartphone users. At the same time, the market got substantial boost from the recent demonetization in India which influenced a lot of people into adopting such mobile wallets.

In North America and Europe, the presence of several market players is triggering much growth. Companies like Apple, Amazon launching their own mobile wallet is bolstering the regional market growth. Digital fluency and digital structure in these regions are quite substantial which is helping the market in finding opportunities and diversify growth possibilities.

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Intended Audience:

• Software developers
• Mobile app Developers
• Banking Service Providers
• Software Developers
• Software Distributors
• Government
• Mobile based financial service providers and distributors
• Research Institutes & Universities

About Us:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Technologies and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

Contact Info:
Name: Abhishek Sawant
Organization: Market Research Future
Website: https://www.marketresearchfuture.com

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Source: MarketersMedia

Release ID: 509619