The global mobile wallet market is analyzed across type, technology, industry vertical, and region. Based on type, the remote segment contributed to nearly three-fifths of the total market revenue in 2019 and is expected to lead the trail by the end of 2027. The proximity segment, on the other hand, is expected to portray the fastest CAGR of 29.8% from 2020 to 2027. —
The global mobile wallet market was estimated at $1.04 billion in 2019 and is anticipated to hit $7.58 billion by 2027, registering a CAGR of 28.2% from 2020 to 2027. The report provides a detailed analysis of the top investment pockets, top winning stratagems, drivers & opportunities, market size & estimations, competitive landscape, and fluctuating market trends.
Rise in smartphone penetration coupled with the emergence of digitalization and demonetization are major factors expected to drive the growth of the mobile wallet market. Mobile commerce drives the adoption of mobile wallet and is expected to support the growth of the market in the coming years.
Based on geography, Asia-Pacific accounted for the largest share in 2019, generating more than two-fifths of the global market. Simultaneously, the region is also expected to grow at the fastest CAGR of 30.5% till 2027. The other provinces studied in the report include North America, Europe, and LAMEA.
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Based on industry-vertical, the retail segment held more than one-third of the total market share in 2019 and is projected to rule the roost by 2027. At the same time, the telecommunication segment would manifest the fastest CAGR of 35.0% throughout the forecast period.
Profiling Key Players: Amazon Web Services Inc., American Express Banking Corp., Apple Inc., Alipay.com, AT&T Inc., Google Inc., Mastercard Incorporated, PayPal Holdings, Inc., Samsung Electronics Co., Ltd, and VISA Inc.
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