Industry Size, Competitive Landscape, Business Opportunity and Forecast – Female Designers

According to IMARC Group’s latest report entitled “Mobile Wallet Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027‘, provides a comprehensive analysis of the industry that includes insights Mobile wallet market share. The report also includes competitive and regional analysis along with current advances in the global market. The global mobile wallet market reached $120 billion in 2021. Looking ahead, IMARC Group expects this The market is projected to reach $336.2 billion by 2027, at a CAGR of 18.6% over 2022-2027.

Mobile Wallet is an online application and software program that assists individuals in making digital payments over the Internet. In addition, it includes the use of NFC (Near Field Communication) chips and QR code technologies that facilitate the exchange of digital content while securing the transaction process. It is commonly accessible through installed or built-in applications that allow users to store debit and credit card details. As a result, it offers more convenience, a safer shopping experience, a wide range of applications and easy access, as well as cashback and discount coupons, making it popular in the masses.

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The rapid outbreak of the coronavirus disease (COVID-19) and subsequent lockdown has provided significant support to market growth as consumers now prefer mobile wallets for payments to avoid physical contact to prevent transmission of the disease. With significant improvements in e-commerce infrastructure, this has escalated the preference for online shopping due to the mandatory closure of physical retail stores. Additionally, the integration of bill payment functionality into mobile wallet applications has had a positive impact on the market.

The global market is mainly driven by the increasing penetration of high-speed internet connections. Together with the increasing mass acceptance of tablets and smartphones, this creates a positive outlook for the market. Alongside this, continuous improvements in the information technology (IT) and financial sectors are driving the market growth. Furthermore, the sudden outbreak of the coronavirus disease (COVID-19) has facilitated the adoption of digital payment methods to maintain social distancing and minimize the spread of the virus, positively impacting the market growth globally. Accordingly, increasing government initiatives to promote cashless payments via mobile wallets are also driving the growth of the market. Other factors including rapid digitization, rising investments by major players to develop robust marketing strategies and celebrity endorsements, and improvements in e-commerce infrastructure are expected to further propel the market.

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Competitive landscape with key players:

The report has also analyzed the competitive landscape of the market with some of the major players.

  • Alipay com (Alibaba Group Holding Limited)
  • Amazon Web Services Inc. ( Inc)
  • American Express company
  • apple inc
  • Google LLC (Alphabet Inc.)
  • MasterCard Incorporated
  • PayPal Holdings Inc.
  • Samsung Electronics Co.Ltd.
  • Squareup Pte. GmbH.
  • visa inc

Mobile Wallet Market Segmentation:

Our report has categorized the market by region, type and application.

Breakdown by type:

Separation by application:

  • retail trade
  • hospitality and transportation
  • telecommunications
  • healthcare
  • Other

Breakdown by region:

  • North America (United States, Canada)
  • Europe (Germany, France, UK, Italy, Spain, others)
  • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, others)
  • Latin America (Brazil, Mexico, others)
  • Middle East and Africa (UAE, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the report:

  • Market performance (2016-2021)
  • Market Outlook (2022-2027)
  • Porter’s Five Forces Analysis
  • Market drivers and success factors
  • SWOT analysis
  • value chain
  • Comprehensive mapping of the competitive landscape

We update our reports. If you want the latest primary and secondary data (2022-2027) with cost module, business strategy, competitive landscape, etc. Click “Get Free Sample Report”, the report will be emailed to you in PDF format within 24-48 hours after payment confirmation.

about us

IMARC Group is a leading market research company providing management strategies and market research worldwide. We work with clients across sectors and geographies to identify their most valuable opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products cover key market, scientific, economic and technological developments for executives in pharmaceutical, industrial and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food & beverage, travel & tourism, nanotechnology and advanced processing methods are at the forefront of the company’s expertise.

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