Mobile Wallet Market ‘Straits Research Report’ provides in-depth information and professional study 2019-2026 of Mobile Wallet Industry. The global mobile wallet market was valued at USD 700 Billion in 2017 and is estimated to grow at a CAGR of 37% during the forecast period. Mobile payment technology is set to disrupt legacy business models, owing to new technological innovations such as integration of wearables, biometrics, and blockchain technology. For instance, in September 2018, Infinito Wallet launched the Universal wallet with Cardanol’s ADA cryptocurrency support. The technology is expected to pave way for fast and secure transfers through a smart contract platform, specifically for applications that consumers, businesses, and governments can rely on.
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The Major Players Covered in this Report: American Express, Apple Inc., Google Inc., Blackberry Ltd., Sprint Corporation, MasterCard Incorporated, AT&T INC, Samsung Electronics Co., Ltd, and Visa Inc. & More.
By Wallet Type, Device Centric, Merchant Centric, Network Centric, Others,
By Payment Mode, NFC, Remote Payment,
By Application, Mobile Commerce, Mobile Transfers, Micropayments, Others,
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- Banks and Financial Institutions
- Government Bodies
- E-commerce Companies
- Mobile Wallet Companies
- Software Distributors
Years that have been considered for the study of this report are as follows:
- History Year: 2015-2019
- Base Year: 2019
- Estimated Year: 2020
- Forecast Year: 2019 to 2026
Growing Domestic Demand and Expanding Pharmaceutical Sector to Drive the Demand for Mobile Wallet in the APAC Region
Asia-Pacific region is anticipated to hold the largest market share in the global Mobile Wallet market during the forecast period 2019-2026. The growth in this region can be attributed to the presence of emerging economies like India, China, Japan, Vietnam, and Indonesia, which account for the largest share in this region. India is one of the largest producers of Mobile Wallet and a major exporter of the product to various countries across the globe. India accounts for around 80% of the world’s exports of Mobile Wallet. The favorable climatic conditions and growth of agricultural inputs and allied services like cold storage and warehousing in India are prompting higher production.
COVID-19 Impact Analysis:
– The COVID-19 pandemic had a significant impact on the on trade segment and Industry.
– Manufacturers are comprehending strategies to revive from the current situation by means of reshaping their sales channels as well as product innovation.
– The duration of the virus outbreak remains a key factor in assessing the overall impact of the pandemic. However, the global Railway Suspension System industry is expected to stabilize after 2019.
– The liquor industry was not impacted severely due to the pandemic.
Full Report Link @ https://straitsresearch.com/report/Mobile Wallet-Market
Why Buy This Report?
The report covers the following points within the scope,
- Potential Venture Avenue
- CR5 Ratio of Top Companies
- Market Share Analysis
In October 2018, the Reserve Bank of India laid out several guidelines that would allow payments between different mobile wallets, which is expected to bolster the mobile wallet market growth during the forecast period. Digital payments have witnessed an upsurge in the country post the demonetization period and are expected to grow to about USD 1 Trillion by 2023
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