Global Mobile Wallet Payment Technologies Market, By Type (Proximity Payment, Remote Payment), Purchase Type (Airtime Transfers and Top-Ups, Money Transfers and Payments, Merchandise and Coupons, Travel and Ticketing), End User (Hospitality and Tourism Sector, BFSI, Media and Entertainment, Retail Sector, Education, IT and Telecom), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Mobile Wallet Payment Technologies Market
The mobile wallet payment technologies market size is valued at a compound annual growth rate of 16.20% in the forecast period of 2021 to 2028. Data Bridge Market Research report on mobile wallet payment technologies market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth. The availability of high speed mobile data is escalating the growth of mobile wallet payment technologies market.
Payment technologies generally refer to a concept of making payments using portable electronic devices such as smartphone, tablet, MPOS machines and others. Also these payment technologies are used to make instant payments for goods and services.
The high adoption of smart applications and increasing mobile data usage across the globe and the high adoption of advanced technologies such as near field communication, wearable devices and mobile point-of-sale are the major factors driving the mobile wallet payment technologies market. The rapid technological advancements as well as rapid enlargement in the payment solutions to provide enhanced payment service to the end users are also accelerating the mobile wallet payment technologies market growth. Additionally, the rising government initiatives in supporting digital payments and also to promote a cashless economy as well as the growing digitalization and rapid urbanization positively affect the mobile wallet payment technologies market. Furthermore, increasing government and private initiatives to promote digital transactions and rising fiscal inclusion across the globe extend profitable opportunities to the mobile wallet payment technologies market players in the forecast period of 2021 to 2028.
On the other hand, the high risks associated to processing mobile payments with financial details of the owner as well as loss of critical data and growing security concerns are the major factors expected to obstruct the mobile wallet payment technologies market growth. The intimidation of increasing cyber-attacks on digital payment solutions is the projected to challenge the mobile wallet payment technologies market in the forecast period of 2021 to 2028.
This mobile wallet payment technologies market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on mobile wallet payment technologies market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Mobile Wallet Payment Technologies Market Scope and Market Size
The mobile wallet payment technologies market is segmented on the basis of type, purchase type and end user. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- The type segment of the mobile wallet payment technologies market is segmented into proximity payment and remote payment.
- On the basis of purchase type, the mobile wallet payment technologies market is segmented into airtime transfers and top-ups, money transfers and payments, merchandise and coupons and travel and ticketing.
- The mobile wallet payment technologies market is also segmented on the basis of end user into hospitality and tourism sector, BFSI, media and entertainment, retail sector, education and IT and telecom.
Global Mobile Wallet Payment Technologies Market Country Level Analysis
The mobile wallet payment technologies market is analyzed and market size, volume information is provided by country, type, purchase type and end user as referenced above.
The countries covered in the mobile wallet payment technologies market report are the U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America leads the mobile wallet payment technologies market due to the high adoption of mobile phones as well as early acceptance of new technology and the advantages of safe and easy money transactions in the region. Asia-Pacific is expected to expand at a significant growth rate over the forecast period of 2021 to 2028 owing to rapid increase in population and the active online media in India as well as high growth of e-commerce industry in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Mobile Wallet Payment Technologies Market Share Analysis
The mobile wallet payment technologies market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to mobile wallet payment technologies market.
The major players covered in the mobile wallet payment technologies market report are Mastercard, Econet Wireless Zimbabwe, Visa, Fortumo, American Express Company, Boku Inc., Airtel India, Stripe, PayPal, Microsoft, Vodacom, Google, PayU, Comviva, Novatti Group Pty Ltd, Paysafe Holdings UK Limited, Bank of America Corporation, Wirecard, First Data Corporation, Paytm and Apple Inc., among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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