The latest report on Mobile Wallet Market by Infinium Global Research gives complete coverage of the Mobile Wallet Market by mode of payment (remote, NFC payment), stakeholders (software developers, cloud computing, mobile network operators, handset, OSS/BSS solution providers), application (mobile ticketing market, mobile coupons market, mobile transfers market) in terms of key trends, market size, forecast and CAGR growth over the period of 2019 to 2025. In addition, the study covers deep dive into key product and applications trends in the regional markets of Mobile Wallet such as North America, Europe, Asia-Pacific and Latin America over the short run and long run.
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The Global Mobile Wallet Market Is Expected to Be Primarily Driven by Factors Such as Trending Offers and Promotional Activities by Industry
The mobile wallet is a type of payment service by which anyone can receive and send money via mobile devices. A mobile wallet is a form of e-commerce model that is made to be used with mobile devices and offers convenience and easy access. It provides service of the online transaction for every single operation in a routine. Mobile wallet offers various facilities such as debit, credit and online transaction from a bank account. A growing number of tablet computer and smartphone users has significantly created the platform for mobile wallet companies The global mobile wallet market is expected to be primarily driven by factors such as trending offers and promotional activities by market to penetrate the global market
players. Furthermore, an increasing number of Smartphone users and customer shift towards electronic money are anticipated to boost the demand for mobile wallets worldwide. Additionally, as high transaction volumes through m-commerce are contributing to the growth of the mobile wallet market.
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Growth in Global Mobile Wallet Market is Likely To Be Hampered by Factors Such as Security Concerns Among Consumers
However, the growth in global mobile wallet market is likely to be hampered by factors such as Security concerns among consumers, the lack of awareness in emerging markets and government support for cashless transactions and electronic money to encourage the transparency of financial transactions is augmenting the market size of the mobile wallet. Moreover, the mobile wallet makes customer communications highly personalized, and connected and real-time marketing offers that is projected to create several opportunities in this market during the forecast year
Among the geographies, North America holds the maximum market shares in the mobile wallet market followed by Europe. The growing shift towards the digital economy and high Internet penetration are the key factors that drive the growth of North America mobile wallet market. Europe is also showing a robust growth rate, followed by The Asia Pacific. The Asia Pacific is the fastest growing region in the mobile wallet market. The counties in this region show high growth potential due to the adoption of smartphones and growing preference for the online transactions
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Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the Mobile Wallet.
- Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.