This report focuses on the Global Mobile Wallet (NFC, Digital Wallet) Market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Mobile Wallet (NFC, Digital Wallet) development in United States, Europe and China.
Mobile wallet is a technology where debit and credit card information can be stored in the smart phone. In the other words instead of keeping the physical cards, one can just pay the bill with the help of the smart phone where the credentials of bank details, card and internet banking information is stored.
NFC product type is expected to have highest growth rate with the increasing penetration of NFC-enabled smartphones across all the regions. The product flexibility for converting the devices to NFC-enabled is expected to drive the mobile wallet market growth.
North America prevails over another region on account of its shift towards a digital economy. Europe is also showing robust mobile wallet market growth rate, followed by the Asia Pacific. Asian countries show high growth potential due to the adoption of smartphones.At present, in the UK more than 88% of consumer payments are made via cashless modes. In the U.S. 80% of the consumer are using online payment. Governments are supporting mobile wallet and have implemented policies to move their countries to cashless economies.
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In the Asia Pacific, Japan, China and India are moving towards cashless countries. There is a high growth opportunity for mobile wallet due to increased adoption of the smartphone in this region. In India, after demonetization, online payment transfer has been increased drastically. Government supports the cashless country and digital country and such initiatives will fuel the growth of mobile wallet market. A company like paytm & freecharge revenue has doubled recently. All the countries are supporting online wallet payment which will help to track all type of transaction and lower the black money transactions.
In 2017, the global Mobile Wallet (NFC, Digital Wallet) market size was xx million US$ and it is expected to reach xx million US$ by the end of 2025, with a CAGR of xx% during 2018-2025.
The key players covered in this study
Merchant Customer Exchange
Market segment by Type, the product can be split into
Market segment by Application, split into
Financial Institutions (Banks)
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Market segment by Regions/Countries, this report covers
Central & South America
The study objectives of this report are:
To analyze global Mobile Wallet (NFC, Digital Wallet) status, future forecast, growth opportunity, key market and key players.
To present the Mobile Wallet (NFC, Digital Wallet) development in United States, Europe and China.
To strategically profile the key players and comprehensively analyze their development plan and strategies.
To define, describe and forecast the market by product type, market and key regions.
For the data information by region, company, type and application, 2017 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.
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