Press release
Mobile Wallet Market 2024 Report By Key Companies, Regional Analysis And Forecast 2033
The mobile wallet market size has grown exponentially in recent years. It will grow from $1614.96 billion in 2023 to $2116.65 billion in 2024 at a compound annual growth rate (CAGR) of 31.1%. The growth in the historic period can be attributed to convenience and accessibility, security concerns, changing consumer behavior, government initiatives, partnerships and collaborations.
The mobile wallet market size is expected to see exponential growth in the next few years. It will grow to $6330.87 billion in 2028 at a compound annual growth rate (CAGR) of 31.5%. The growth in the forecast period can be attributed to contactless payments, financial inclusion, rise of digital banking, cross-border transactions, advancements in payment technology. Major trends in the forecast period include blockchain and cryptocurrency integration, loyalty programs and rewards integration, offline mobile payments, mobile wallets for public transportation, collaborations with retailers and merchants.
Market Overview -
A mobile wallet is a virtual wallet that is linked to a user's bank account and can access the account to make and accept payments. These mobile wallets are used for making payments for day-to-day shopping.
Download Free Sample of Report -
https://www.thebusinessresearchcompany.com/sample.aspx?id=9339&type=smp
Rising Smartphone Penetration Fuels Growth In The Mobile Wallet Market
The rise in smartphone penetration is driving the mobile wallet market going forward. Smartphones refer to mobile phones that can accomplish more tasks than just calling and text messaging. With the increasing number of smartphones and governments promoting digital payments and cashless payments, more people are installing mobile wallets on their phones. For instance, according to a report by DataReportal, a Singapore-based free data and information provider, in China, there were 1.61 billion mobile connections in January 2021. Between January 2020 and January 2021, there were 8.0 million more mobile connections in China (+0.5%). Since many people have multiple mobile connections, the number of mobile connections in China in January 2021 was equal to 111.8% of the country's entire population. Therefore, increasing smartphone penetration is driving the mobile wallet market.
Competitive Landscape -
Major companies operating in the mobile wallet market report are Amazon.com Inc., Apple Inc., Google LLC, Samsung Electronics Co Ltd., Alibaba Group Holding Limited, AT&T Inc., Tencent Holdings Limited, Barclays plc, Wells Fargo & Company, American Express Banking Corporation, VISA Inc., PayPal Holdings Inc., Mastercard Incorporated, Square Inc., MercadoLibre Inc., Skrill Ltd., Revolut Ltd., Ant Financial Services Group, Circle Internet Financial Ltd., One Mobikwik System Pvt Ltd., Mozido Inc., TRM Labs Inc., BitPay Inc., Dwolla Inc., Zerion Inc., Bitski Inc., Blockstream Corporation, Alipay.com, Zelle Inc., Jerry Technologies Inc.
Product Innovations Redefine The Landscape Of The Mobile Wallet Market
Product innovation is a key trend gaining popularity in the mobile wallet market. Major companies in the market are constantly innovating and introducing new offerings to sustain their position in the market. For instance, in December 2021, Vibes, a US-based technology firm and provider of mobile wallet services, launched Mobile Wallet as a Channel, an innovative add-on to its existing mobile wallet solution. The innovation turns consumers' mobile wallets into a persistent, dynamic, and personalized content channel to drive top-line growth and improve customer satisfaction.
Browse Full Report @
https://www.thebusinessresearchcompany.com/report/mobile-wallet-global-market-report
Key Segments -
The mobile wallet market covered in this report is segmented -
1) By Type: Open, Semi-Closed, Closed
2) By Ownership: Banks, Telecom Operators, Device Manufacturers, Tech Companies
3) By Technology: Near Field Communication (NFC), Optical/QR Code, Digital, Text-Based
4) By Application: Hospitality And Transportation, Media And Entertainment, Retail, Healthcare, Energy And Utilities, Telecommunication, Other Applications
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
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Want To Know More About The Business Research Company?
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.
Global Market Model - World's Most Comprehensive Database
The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps
The mobile wallet market size is expected to see exponential growth in the next few years. It will grow to $6330.87 billion in 2028 at a compound annual growth rate (CAGR) of 31.5%. The growth in the forecast period can be attributed to contactless payments, financial inclusion, rise of digital banking, cross-border transactions, advancements in payment technology. Major trends in the forecast period include blockchain and cryptocurrency integration, loyalty programs and rewards integration, offline mobile payments, mobile wallets for public transportation, collaborations with retailers and merchants.
Market Overview -
A mobile wallet is a virtual wallet that is linked to a user's bank account and can access the account to make and accept payments. These mobile wallets are used for making payments for day-to-day shopping.
Download Free Sample of Report -
https://www.thebusinessresearchcompany.com/sample.aspx?id=9339&type=smp
Rising Smartphone Penetration Fuels Growth In The Mobile Wallet Market
The rise in smartphone penetration is driving the mobile wallet market going forward. Smartphones refer to mobile phones that can accomplish more tasks than just calling and text messaging. With the increasing number of smartphones and governments promoting digital payments and cashless payments, more people are installing mobile wallets on their phones. For instance, according to a report by DataReportal, a Singapore-based free data and information provider, in China, there were 1.61 billion mobile connections in January 2021. Between January 2020 and January 2021, there were 8.0 million more mobile connections in China (+0.5%). Since many people have multiple mobile connections, the number of mobile connections in China in January 2021 was equal to 111.8% of the country's entire population. Therefore, increasing smartphone penetration is driving the mobile wallet market.
Competitive Landscape -
Major companies operating in the mobile wallet market report are Amazon.com Inc., Apple Inc., Google LLC, Samsung Electronics Co Ltd., Alibaba Group Holding Limited, AT&T Inc., Tencent Holdings Limited, Barclays plc, Wells Fargo & Company, American Express Banking Corporation, VISA Inc., PayPal Holdings Inc., Mastercard Incorporated, Square Inc., MercadoLibre Inc., Skrill Ltd., Revolut Ltd., Ant Financial Services Group, Circle Internet Financial Ltd., One Mobikwik System Pvt Ltd., Mozido Inc., TRM Labs Inc., BitPay Inc., Dwolla Inc., Zerion Inc., Bitski Inc., Blockstream Corporation, Alipay.com, Zelle Inc., Jerry Technologies Inc.
Product Innovations Redefine The Landscape Of The Mobile Wallet Market
Product innovation is a key trend gaining popularity in the mobile wallet market. Major companies in the market are constantly innovating and introducing new offerings to sustain their position in the market. For instance, in December 2021, Vibes, a US-based technology firm and provider of mobile wallet services, launched Mobile Wallet as a Channel, an innovative add-on to its existing mobile wallet solution. The innovation turns consumers' mobile wallets into a persistent, dynamic, and personalized content channel to drive top-line growth and improve customer satisfaction.
Browse Full Report @
https://www.thebusinessresearchcompany.com/report/mobile-wallet-global-market-report
Key Segments -
The mobile wallet market covered in this report is segmented -
1) By Type: Open, Semi-Closed, Closed
2) By Ownership: Banks, Telecom Operators, Device Manufacturers, Tech Companies
3) By Technology: Near Field Communication (NFC), Optical/QR Code, Digital, Text-Based
4) By Application: Hospitality And Transportation, Media And Entertainment, Retail, Healthcare, Energy And Utilities, Telecommunication, Other Applications
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Want To Know More About The Business Research Company?
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.
Global Market Model - World's Most Comprehensive Database
The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps
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