Market Overview:
The global mobile wallet and payment technologies market is expected to grow at a CAGR of 16.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing adoption of smartphones and other mobile devices, rising demand for contactless payments, and growing trend of m-commerce. In terms of type, the mobile commerce segment is expected to hold the largest share in the global mobile wallet and payment technologies market during the forecast period. This can be attributed to increased use of smartphones for shopping purposes. In terms of application, bill payments are expected to hold the largest share in the global mobile wallet and payment technologies market duringthe forecast period.
Product Definition:
Mobile Wallet and Payment Technologies is a term that refers to the various technologies that allow mobile devices to be used for payments. This can include technologies like NFC, which allows devices to communicate with contactless payment terminals, or QR codes, which can be scanned by merchants in order to process payments. The importance of Mobile Wallet and Payment Technologies lies in the fact that they make it easier for consumers to pay for goods and services without having to carry around any physical money or cards.
Mobile Commerce:
Mobile commerce is the extension of online shopping using mobile devices such as smartphones and tablets. It includes buying products or services online using a mobile browser, either through a dedicated application installed on the device or via an internet service. Mobile commerce has become more popular than traditional desktop commerce owing to its ease of use and flexibility in terms of where the Commerce is taking place i.e., at home, while traveling, in coffee shops/bars or even on public transport (subway/train).
Contactless Near-Field Communication:
NFC is short for near-field communication. It is a low power wireless technology that allows two-way communication between mobile devices and payment terminals. NFC enables contactless payments through smartphones by eliminating the need to touch the device to complete transactions.
Application Insights:
The shopping application segment led the global mobile wallet and payment technologies market in 2017. The use of mobile payments for shopping has become common among both consumers and merchants across the globe. Various benefits including ease of use, secure transactions, and instant confirmation have contributed to the increasing adoption of these services across various retail sectors worldwide.
The entertainment application segment is expected to witness significant growth over the forecast period owing to growing demand from millennials for premium content on their mobiles while abroad as well as at remote locations where internet connectivity may be a problem or expensive. Moreover, companies are also trying to reach out directly through social media platforms with offers related to movie tickets & shows which is further driving adoption among millennials globally. Companies such as Ticaret Groupier Sanayi ve Telsim Ltd.
Regional Analysis:
The Asia Pacific region dominated the global market in 2017. The growth of the regional market can be attributed to increasing smartphone penetration, rapid urbanization, and rising adoption of digital payment technologies. Moreover, growing popularity of online shopping and changing consumer behavior patterns are expected to drive the demand for mobile wallets over the forecast period.
North America is anticipated to witness significant growth over the forecast period owing to increasing number of retail stores that are adopting cashless payment systems such as contactless payments on smartphones or Apple Pay in U.S., Canada, and Mexico countries; hence driving demand for mobile wallets across North America region. Furthermore, growing trend towards gift cards has been gaining traction among consumers due to which gift card sales have increased significantly across this region; thereby driving demand for mobile wallet applications including Tango Card by tangoPay Inc.
Growth Factors:
- Increasing demand for mobile payments and wallets due to the increase in the number of smartphone users and the growth of e-commerce.
- The increasing trend of using mobile devices for banking and financial transactions, which is contributing to the growth of mobile wallet and payment technologies market.
- Proliferation of NFC technology that enables contactless payments is aiding in the growth of this market.
- Rising demand for m-commerce as it offers convenience, faster checkout, and easier returns compared to traditional shopping methods is propelling the adoption rate of mobile wallets among consumers globally thereby driving market growth .
Scope Of The Report
Report Attributes
Report Details
Report Title
Mobile Wallet and Payment Technologies Market Research Report
By Type
Mobile Commerce, Contactless Near-Field Communication, Mobile Ticropayment, Mobile Ticketing, Money Transfer, Micropayments, Mobile Coupon
By Application
Bill Payments, Shopping, Entertainment, Rail, Metro and Bus Tickets, Hotel Booking, Air Tickets and Boarding Passes, Other
By Companies
PayPal, MasterCard, American Express, Apple, Bank of America, Amazon, Citrus Payment Solutions, WorldPay, Airtel Money, AT&T Inc., Google Wallet, Visa, Paytm Mobile Solutions Pvt Ltd, First Data Corp, Verizon Communications Inc
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
147
Number of Tables & Figures
103
Customization Available
Yes, the report can be customized as per your need.
Global Mobile Wallet and Payment Technologies Market Report Segments:
The global Mobile Wallet and Payment Technologies market is segmented on the basis of:
Types
Mobile Commerce, Contactless Near-Field Communication, Mobile Ticropayment, Mobile Ticketing, Money Transfer, Micropayments, Mobile Coupon
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Bill Payments, Shopping, Entertainment, Rail, Metro and Bus Tickets, Hotel Booking, Air Tickets and Boarding Passes, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- PayPal
- MasterCard
- American Express
- Apple
- Bank of America
- Amazon
- Citrus Payment Solutions
- WorldPay
- Airtel Money
- AT&T Inc.
- Google Wallet
- Visa
- Paytm Mobile Solutions Pvt Ltd
- First Data Corp
- Verizon Communications Inc
Highlights of The Mobile Wallet and Payment Technologies Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Mobile Commerce
- Contactless Near-Field Communication
- Mobile Ticropayment
- Mobile Ticketing
- Money Transfer
- Micropayments
- Mobile Coupon
- By Application:
- Bill Payments
- Shopping
- Entertainment
- Rail, Metro and Bus Tickets
- Hotel Booking
- Air Tickets and Boarding Passes
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Mobile Wallet and Payment Technologies Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A mobile wallet is a digital platform that allows users to store, send and receive money using their mobile device. Payment technologies allow merchants to accept payments through various channels, such as contactless cards, NFC tags and online payments.
Some of the major players in the mobile wallet and payment technologies market are PayPal, MasterCard, American Express, Apple, Bank of America, Amazon, Citrus Payment Solutions, WorldPay, Airtel Money, AT&T Inc., Google Wallet, Visa, Paytm Mobile Solutions Pvt Ltd, First Data Corp, Verizon Communications Inc.
The mobile wallet and payment technologies market is expected to register a CAGR of 16.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Mobile Wallet and Payment Technologies Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Mobile Wallet and Payment Technologies Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Mobile Wallet and Payment Technologies Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Mobile Wallet and Payment Technologies Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Mobile Wallet and Payment Technologies Market Size & Forecast, 2018-2028
4.5.1 Mobile Wallet and Payment Technologies Market Size and Y-o-Y Growth
4.5.2 Mobile Wallet and Payment Technologies Market Absolute $ Opportunity
Chapter 5 Global Mobile Wallet and Payment Technologies Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Mobile Wallet and Payment Technologies Market Size Forecast by Type
5.2.1 Mobile Commerce
5.2.2 Contactless Near-Field Communication
5.2.3 Mobile Ticropayment
5.2.4 Mobile Ticketing
5.2.5 Money Transfer
5.2.6 Micropayments
5.2.7 Mobile Coupon
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Mobile Wallet and Payment Technologies Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Mobile Wallet and Payment Technologies Market Size Forecast by Applications
6.2.1 Bill Payments
6.2.2 Shopping
6.2.3 Entertainment
6.2.4 Rail
6.2.5 Metro and Bus Tickets
6.2.6 Hotel Booking
6.2.7 Air Tickets and Boarding Passes
6.2.8 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Mobile Wallet and Payment Technologies Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Mobile Wallet and Payment Technologies Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Mobile Wallet and Payment Technologies Analysis and Forecast
9.1 Introduction
9.2 North America Mobile Wallet and Payment Technologies Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Mobile Wallet and Payment Technologies Market Size Forecast by Type
9.6.1 Mobile Commerce
9.6.2 Contactless Near-Field Communication
9.6.3 Mobile Ticropayment
9.6.4 Mobile Ticketing
9.6.5 Money Transfer
9.6.6 Micropayments
9.6.7 Mobile Coupon
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Mobile Wallet and Payment Technologies Market Size Forecast by Applications
9.10.1 Bill Payments
9.10.2 Shopping
9.10.3 Entertainment
9.10.4 Rail
9.10.5 Metro and Bus Tickets
9.10.6 Hotel Booking
9.10.7 Air Tickets and Boarding Passes
9.10.8 Other
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Mobile Wallet and Payment Technologies Analysis and Forecast
10.1 Introduction
10.2 Europe Mobile Wallet and Payment Technologies Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Mobile Wallet and Payment Technologies Market Size Forecast by Type
10.6.1 Mobile Commerce
10.6.2 Contactless Near-Field Communication
10.6.3 Mobile Ticropayment
10.6.4 Mobile Ticketing
10.6.5 Money Transfer
10.6.6 Micropayments
10.6.7 Mobile Coupon
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Mobile Wallet and Payment Technologies Market Size Forecast by Applications
10.10.1 Bill Payments
10.10.2 Shopping
10.10.3 Entertainment
10.10.4 Rail
10.10.5 Metro and Bus Tickets
10.10.6 Hotel Booking
10.10.7 Air Tickets and Boarding Passes
10.10.8 Other
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Mobile Wallet and Payment Technologies Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Mobile Wallet and Payment Technologies Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Mobile Wallet and Payment Technologies Market Size Forecast by Type
11.6.1 Mobile Commerce
11.6.2 Contactless Near-Field Communication
11.6.3 Mobile Ticropayment
11.6.4 Mobile Ticketing
11.6.5 Money Transfer
11.6.6 Micropayments
11.6.7 Mobile Coupon
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Mobile Wallet and Payment Technologies Market Size Forecast by Applications
11.10.1 Bill Payments
11.10.2 Shopping
11.10.3 Entertainment
11.10.4 Rail
11.10.5 Metro and Bus Tickets
11.10.6 Hotel Booking
11.10.7 Air Tickets and Boarding Passes
11.10.8 Other
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Mobile Wallet and Payment Technologies Analysis and Forecast
12.1 Introduction
12.2 Latin America Mobile Wallet and Payment Technologies Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Mobile Wallet and Payment Technologies Market Size Forecast by Type
12.6.1 Mobile Commerce
12.6.2 Contactless Near-Field Communication
12.6.3 Mobile Ticropayment
12.6.4 Mobile Ticketing
12.6.5 Money Transfer
12.6.6 Micropayments
12.6.7 Mobile Coupon
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Mobile Wallet and Payment Technologies Market Size Forecast by Applications
12.10.1 Bill Payments
12.10.2 Shopping
12.10.3 Entertainment
12.10.4 Rail
12.10.5 Metro and Bus Tickets
12.10.6 Hotel Booking
12.10.7 Air Tickets and Boarding Passes
12.10.8 Other
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Mobile Wallet and Payment Technologies Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Mobile Wallet and Payment Technologies Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Mobile Wallet and Payment Technologies Market Size Forecast by Type
13.6.1 Mobile Commerce
13.6.2 Contactless Near-Field Communication
13.6.3 Mobile Ticropayment
13.6.4 Mobile Ticketing
13.6.5 Money Transfer
13.6.6 Micropayments
13.6.7 Mobile Coupon
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Mobile Wallet and Payment Technologies Market Size Forecast by Applications
13.10.1 Bill Payments
13.10.2 Shopping
13.10.3 Entertainment
13.10.4 Rail
13.10.5 Metro and Bus Tickets
13.10.6 Hotel Booking
13.10.7 Air Tickets and Boarding Passes
13.10.8 Other
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Mobile Wallet and Payment Technologies Market: Competitive Dashboard
14.2 Global Mobile Wallet and Payment Technologies Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 PayPal
14.3.2 MasterCard
14.3.3 American Express
14.3.4 Apple
14.3.5 Bank of America
14.3.6 Amazon
14.3.7 Citrus Payment Solutions
14.3.8 WorldPay
14.3.9 Airtel Money
14.3.10 AT&T Inc.
14.3.11 Google Wallet
14.3.12 Visa
14.3.13 Paytm Mobile Solutions Pvt Ltd
14.3.14 First Data Corp
14.3.15 Verizon Communications Inc
