PUBLISHER: IMARC | PRODUCT CODE: 1379028
PUBLISHER: IMARC | PRODUCT CODE: 1379028
Mobile Wallet Market Report by Type (Proximity, Remote), Application (Retail, Hospitality and Transportation, Telecommunication, Healthcare, and Others), and Region 2023-2028
Abstract
The global mobile wallet market size reached US$ 142.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 387.8 Billion by 2028, exhibiting a growth rate (CAGR) of 18.2% during 2022-2028. The increasing penetration of smartphones, the decreasing cost of mobile data plans, and the widespread adoption of contactless payments represent some of the key factors driving the market.
A mobile wallet is a digital platform that allows users to store, manage and use their money through a smartphone or other mobile devices. It functions as a virtual wallet, enabling users to make payments, transfer money, and perform other financial transactions without the need for cash or physical credit cards. The concept of mobile wallets has emerged as a result of the growing trend of digitization, where most of the daily activities are now carried out online. It allows users to link their bank accounts, debit or credit cards, and other payment methods to the app, making transactions more convenient and efficient. It uses a variety of technologies to secure and protect user data, including encryption and tokenization. It also offers numerous features, such as biometric authentication, which allows users to log in using their fingerprint or facial recognition technology, adding an extra layer of security. Several mobile wallets also offer loyalty programs, discounts, and cashback incentives to encourage users to use their platform for transactions.
Mobile Wallet Market Trends:
The escalating smartphone penetration majorly drives the global market. With the rising popularity of smartphones and the decreasing cost of mobile data plans, consumers are accessing the internet through their mobile devices. This is leading to an increasing number of mobile payments as consumers seek more convenient ways to pay for goods and services. Along with this, the widespread adoption of contactless payments to minimize contact with surfaces and consumers on account of the rapid outbreak of coronavirus disease is significantly supporting the demand. Since mobile wallets offer a contactless payment solution, allowing consumers to make payments without physically handling cash or credit cards, further impacting the market. In addition, mobile wallets offer high security, with encryption and authentication protocols that protect user data and prevent fraud is positively influencing the demand. Apart from this, several government agencies are promoting the use of digital payments, as they offer greater transparency and can help reduce the use of cash, which can be prone to fraud and counterfeiting, which is also contributing to the market. Furthermore, the introduction of rewards and loyalty programs, which incentivize users to make more transactions and build customer loyalty, is creating a positive market outlook. Some of the other factors driving the market include rapid urbanization and extensive research and development (R&D) activities.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global mobile wallet market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type and application.
Type Insights:
Proximity
Remote
The report has provided a detailed breakup and analysis of the mobile wallet market based on the type. This includes proximity and remote. According to the report, remote represented the largest segment.
Application Insights:
Retail
Hospitality and Transportation
Telecommunication
Healthcare
Others
A detailed breakup and analysis of the mobile wallet market based on the application has also been provided in the report. This includes retail, hospitality and transportation, telecommunication, healthcare, and others. At present, retail represents the most preferred application worldwide.
Regional Insights:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (United States, Canada); Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia-Pacific was the largest market for mobile wallet. Some of the factors driving Asia-Pacific mobile wallet market included rapid urbanization, favorable government regulations and continual technological advancements.
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global mobile wallet market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered Alipay.com (Alibaba Group Holding Limited), Amazon Web Services Inc. (Amazon.com Inc), American Express Company, Apple Inc., Google LLC (Alphabet Inc.), Mastercard Incorporated, Paypal Holdings Inc., Samsung Electronics Co. Ltd., Squareup Pte. Ltd, Visa Inc., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Key Questions Answered in This Report
- 1. What was the size of the global mobile wallet market in 2022?
- 2. What is the expected growth rate of the global mobile wallet market during 2023-2028?
- 3. What are the key factors driving the global mobile wallet market?
- 4. What has been the impact of COVID-19 on the global mobile wallet market?
- 5. What is the breakup of the global mobile wallet market based on the type?
- 6. What is the breakup of the global mobile wallet market based on the application?
- 7. What are the key regions in the global mobile wallet market?
- 8. Who are the key players/companies in the global mobile wallet market?
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Mobile Wallet Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Type
- 6.1 Proximity
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Remote
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
7 Market Breakup by Application
- 7.1 Retail
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Hospitality and Transportation
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Telecommunication
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 7.4 Healthcare
- 7.4.1 Market Trends
- 7.4.2 Market Forecast
- 7.5 Others
- 7.5.1 Market Trends
- 7.5.2 Market Forecast
8 Market Breakup by Region
- 8.1 North America
- 8.1.1 United States
- 8.1.1.1 Market Trends
- 8.1.1.2 Market Forecast
- 8.1.2 Canada
- 8.1.2.1 Market Trends
- 8.1.2.2 Market Forecast
- 8.1.1 United States
- 8.2 Asia-Pacific
- 8.2.1 China
- 8.2.1.1 Market Trends
- 8.2.1.2 Market Forecast
- 8.2.2 Japan
- 8.2.2.1 Market Trends
- 8.2.2.2 Market Forecast
- 8.2.3 India
- 8.2.3.1 Market Trends
- 8.2.3.2 Market Forecast
- 8.2.4 South Korea
- 8.2.4.1 Market Trends
- 8.2.4.2 Market Forecast
- 8.2.5 Australia
- 8.2.5.1 Market Trends
- 8.2.5.2 Market Forecast
- 8.2.6 Indonesia
- 8.2.6.1 Market Trends
- 8.2.6.2 Market Forecast
- 8.2.7 Others
- 8.2.7.1 Market Trends
- 8.2.7.2 Market Forecast
- 8.2.1 China
- 8.3 Europe
- 8.3.1 Germany
- 8.3.1.1 Market Trends
- 8.3.1.2 Market Forecast
- 8.3.2 France
- 8.3.2.1 Market Trends
- 8.3.2.2 Market Forecast
- 8.3.3 United Kingdom
- 8.3.3.1 Market Trends
- 8.3.3.2 Market Forecast
- 8.3.4 Italy
- 8.3.4.1 Market Trends
- 8.3.4.2 Market Forecast
- 8.3.5 Spain
- 8.3.5.1 Market Trends
- 8.3.5.2 Market Forecast
- 8.3.6 Russia
- 8.3.6.1 Market Trends
- 8.3.6.2 Market Forecast
- 8.3.7 Others
- 8.3.7.1 Market Trends
- 8.3.7.2 Market Forecast
- 8.3.1 Germany
- 8.4 Latin America
- 8.4.1 Brazil
- 8.4.1.1 Market Trends
- 8.4.1.2 Market Forecast
- 8.4.2 Mexico
- 8.4.2.1 Market Trends
- 8.4.2.2 Market Forecast
- 8.4.3 Others
- 8.4.3.1 Market Trends
- 8.4.3.2 Market Forecast
- 8.4.1 Brazil
- 8.5 Middle East and Africa
- 8.5.1 Market Trends
- 8.5.2 Market Breakup by Country
- 8.5.3 Market Forecast
9 SWOT Analysis
- 9.1 Overview
- 9.2 Strengths
- 9.3 Weaknesses
- 9.4 Opportunities
- 9.5 Threats
10 Value Chain Analysis
11 Porters Five Forces Analysis
- 11.1 Overview
- 11.2 Bargaining Power of Buyers
- 11.3 Bargaining Power of Suppliers
- 11.4 Degree of Competition
- 11.5 Threat of New Entrants
- 11.6 Threat of Substitutes
12 Price Analysis
13 Competitive Landscape
- 13.1 Market Structure
- 13.2 Key Players
- 13.3 Profiles of Key Players
- 13.3.1 Alipay.com (Alibaba Group Holding Limited)
- 13.3.1.1 Company Overview
- 13.3.1.2 Product Portfolio
- 13.3.2 Amazon Web Services Inc. (Amazon.com Inc)
- 13.3.2.1 Company Overview
- 13.3.2.2 Product Portfolio
- 13.3.2.3 SWOT Analysis
- 13.3.3 American Express Company
- 13.3.3.1 Company Overview
- 13.3.3.2 Product Portfolio
- 13.3.3.3 Financials
- 13.3.3.4 SWOT Analysis
- 13.3.4 Apple Inc.
- 13.3.4.1 Company Overview
- 13.3.4.2 Product Portfolio
- 13.3.4.3 Financials
- 13.3.4.4 SWOT Analysis
- 13.3.5 Google LLC (Alphabet Inc.)
- 13.3.5.1 Company Overview
- 13.3.5.2 Product Portfolio
- 13.3.5.3 SWOT Analysis
- 13.3.6 Mastercard Incorporated
- 13.3.6.1 Company Overview
- 13.3.6.2 Product Portfolio
- 13.3.6.3 Financials
- 13.3.6.4 SWOT Analysis
- 13.3.7 Paypal Holdings Inc.
- 13.3.7.1 Company Overview
- 13.3.7.2 Product Portfolio
- 13.3.7.3 Financials
- 13.3.7.4 SWOT Analysis
- 13.3.8 Samsung Electronics Co. Ltd.
- 13.3.8.1 Company Overview
- 13.3.8.2 Product Portfolio
- 13.3.8.3 Financials
- 13.3.8.4 SWOT Analysis
- 13.3.9 Squareup Pte. Ltd.
- 13.3.9.1 Company Overview
- 13.3.9.2 Product Portfolio
- 13.3.9.3 Financials
- 13.3.10 Visa Inc.
- 13.3.10.1 Company Overview
- 13.3.10.2 Product Portfolio
- 13.3.10.3 Financials
- 13.3.10.4 SWOT Analysis
- 13.3.1 Alipay.com (Alibaba Group Holding Limited)
List of Figures
- Figure 1: Global: Mobile Wallet Market: Major Drivers and Challenges
- Figure 2: Global: Mobile Wallet Market: Sales Value (in Billion US$), 2017-2022
- Figure 3: Global: Mobile Wallet Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 4: Global: Mobile Wallet Market: Breakup by Type (in %), 2022
- Figure 5: Global: Mobile Wallet Market: Breakup by Application (in %), 2022
- Figure 6: Global: Mobile Wallet Market: Breakup by Region (in %), 2022
- Figure 7: Global: Mobile Wallet (Proximity) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 8: Global: Mobile Wallet (Proximity) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 9: Global: Mobile Wallet (Remote) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 10: Global: Mobile Wallet (Remote) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 11: Global: Mobile Wallet (Retail) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 12: Global: Mobile Wallet (Retail) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 13: Global: Mobile Wallet (Hospitality and Transportation) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 14: Global: Mobile Wallet (Hospitality and Transportation) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 15: Global: Mobile Wallet (Telecommunication) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 16: Global: Mobile Wallet (Telecommunication) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 17: Global: Mobile Wallet (Healthcare) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 18: Global: Mobile Wallet (Healthcare) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 19: Global: Mobile Wallet (Others) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 20: Global: Mobile Wallet (Others) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 21: North America: Mobile Wallet Market: Sales Value (in Million US$), 2017 & 2022
- Figure 22: North America: Mobile Wallet Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 23: United States: Mobile Wallet Market: Sales Value (in Million US$), 2017 & 2022
- Figure 24: United States: Mobile Wallet Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 25: Canada: Mobile Wallet Market: Sales Value (in Million US$), 2017 & 2022
- Figure 26: Canada: Mobile Wallet Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 27: Asia-Pacific: Mobile Wallet Market: Sales Value (in Million US$), 2017 & 2022
- Figure 28: Asia-Pacific: Mobile Wallet Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 29: China: Mobile Wallet Market: Sales Value (in Million US$), 2017 & 2022
- Figure 30: China: Mobile Wallet Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 31: Japan: Mobile Wallet Market: Sales Value (in Million US$), 2017 & 2022
- Figure 32: Japan: Mobile Wallet Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 33: India: Mobile Wallet Market: Sales Value (in Million US$), 2017 & 2022
- Figure 34: India: Mobile Wallet Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 35: South Korea: Mobile Wallet Market: Sales Value (in Million US$), 2017 & 2022
- Figure 36: South Korea: Mobile Wallet Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 37: Australia: Mobile Wallet Market: Sales Value (in Million US$), 2017 & 2022
- Figure 38: Australia: Mobile Wallet Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 39: Indonesia: Mobile Wallet Market: Sales Value (in Million US$), 2017 & 2022
- Figure 40: Indonesia: Mobile Wallet Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 41: Others: Mobile Wallet Market: Sales Value (in Million US$), 2017 & 2022
- Figure 42: Others: Mobile Wallet Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 43: Europe: Mobile Wallet Market: Sales Value (in Million US$), 2017 & 2022
- Figure 44: Europe: Mobile Wallet Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 45: Germany: Mobile Wallet Market: Sales Value (in Million US$), 2017 & 2022
- Figure 46: Germany: Mobile Wallet Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 47: France: Mobile Wallet Market: Sales Value (in Million US$), 2017 & 2022
- Figure 48: France: Mobile Wallet Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 49: United Kingdom: Mobile Wallet Market: Sales Value (in Million US$), 2017 & 2022
- Figure 50: United Kingdom: Mobile Wallet Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 51: Italy: Mobile Wallet Market: Sales Value (in Million US$), 2017 & 2022
- Figure 52: Italy: Mobile Wallet Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 53: Spain: Mobile Wallet Market: Sales Value (in Million US$), 2017 & 2022
- Figure 54: Spain: Mobile Wallet Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 55: Russia: Mobile Wallet Market: Sales Value (in Million US$), 2017 & 2022
- Figure 56: Russia: Mobile Wallet Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 57: Others: Mobile Wallet Market: Sales Value (in Million US$), 2017 & 2022
- Figure 58: Others: Mobile Wallet Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 59: Latin America: Mobile Wallet Market: Sales Value (in Million US$), 2017 & 2022
- Figure 60: Latin America: Mobile Wallet Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 61: Brazil: Mobile Wallet Market: Sales Value (in Million US$), 2017 & 2022
- Figure 62: Brazil: Mobile Wallet Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 63: Mexico: Mobile Wallet Market: Sales Value (in Million US$), 2017 & 2022
- Figure 64: Mexico: Mobile Wallet Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 65: Others: Mobile Wallet Market: Sales Value (in Million US$), 2017 & 2022
- Figure 66: Others: Mobile Wallet Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 67: Middle East and Africa: Mobile Wallet Market: Sales Value (in Million US$), 2017 & 2022
- Figure 68: Middle East and Africa: Mobile Wallet Market: Breakup by Country (in %), 2022
- Figure 69: Middle East and Africa: Mobile Wallet Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 70: Global: Mobile Wallet Industry: SWOT Analysis
- Figure 71: Global: Mobile Wallet Industry: Value Chain Analysis
- Figure 72: Global: Mobile Wallet Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Mobile Wallet Market: Key Industry Highlights, 2022 and 2028
- Table 2: Global: Mobile Wallet Market Forecast: Breakup by Type (in Million US$), 2023-2028
- Table 3: Global: Mobile Wallet Market Forecast: Breakup by Application (in Million US$), 2023-2028
- Table 4: Global: Mobile Wallet Market Forecast: Breakup by Region (in Million US$), 2023-2028
- Table 5: Global: Mobile Wallet Market: Competitive Structure
- Table 6: Global: Mobile Wallet Market: Key Players
