Pune, India -- (SBWire) -- 12/20/2019 --Infinium Global Research has recently published a premium report on the "Mobile Wallet Market (Mode of Payment - Remote Payment, and NFC Payment; Stakeholders - Software Developers and Cloud Computing, Content and Applications Aggregators, Mobile Network Operators (MNOS), Handset and Other Hardware Solution Manufacturers, OSS/BSS Solution Providers, and Other Stakeholders; Application - Mobile Commerce Market, Mobile Ticketing Market, Mobile Coupons Market, Mobile Transfers Market, and Micropayments): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025." The global mobile wallet market is projected to grow at a CAGR of 34.1% over the forecast period of 2019-2025.
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According to the IGR research analysts trending offers and promotional activities by market players such as near-field communication, biometrics, loyalty programs, improved artificial intelligence, and smart speaker payments are driving the growth of the market exponentially. Near-field communications instantaneously transfer funds and confirm transactions, whereas biometric technology such as fingerprint, face, or iris scans make mobile payments faster, convenient, and add a layer of security. AI will be essential in creating advanced fraud detection strategies and defending against cyber-attacks. Home assistants, also known as smart speakers, have exploded in popularity in recent years.
Remote Payment Segment is Anticipated to Dominate the Market During the Forecast Period
The report gives an in-depth analysis of the global mobile wallet market, focuses on market opportunities along with the trends driving the market. It provides the market segmentation by mode of payment (remote payment, NFC payment), by stakeholders ( software developers and cloud computing, content and applications aggregators, mobile network operators, handset and other hardware solution manufacturers, OSS/ BSS solution providers and other stakeholders ), by application ( mobile commerce market, mobile ticketing market, mobile coupons market, mobile transfers market and micropayments) and by region. Based on payment, currently, the remote payment method is holding the largest share in the mobile wallet market. The remote payment transactions allow unbanked/under-banked consumers to make use of mobile commerce through their mobile computing devices.
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North America Holds the Maximum Share During the Forecast Period
Among the geographies, North America owns the maximum market shares in the mobile wallet market, followed by Europe. The market is being driven by increasing acquisitions and partnerships in this region. Near Field Communication (NFC) and QR/ barcode are the most popular mode of Mobile payments in this country.
Europe- In June 2019, six prominent mobile wallets across Europe, together with Alipay, announced a collaboration to promote QR code-based digital payment interoperability for travelers both in Europe and from China. Bluecode, ePassi, momo pocket, Pagaqui, Pivo, Vipps, and Alipay are working towards adopting a unified QR code, marking a milestone in connecting Europe's thriving yet fragmented mobile payment landscape.
Asia-Pacific- The Asia Pacific mobile wallet market is poised to garner commendable gains in the coming years. The major factors driving the growth of the market are the rising penetration of smartphones and the growing number of internet users in the region.
Major Key Players in the Industry
The key players featured in the report are American Express Company, Apple Inc., AT&T Inc, BlackBerry Limited, First Data Corporation, Google Inc., Samsung Electronics Co., Ltd., MasterCard Incorporated, Visa Inc., Sprint Corporation, and Other companies.
American Express Company- In July 2019, announced it signed an agreement to acquire compact, a best-in-class, digital payment automation platform from ACOM Solutions, Inc., that helps business customers make supplier payments easily and securely, manage business spend, and improve cash flow.
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Report Highlights
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the mobile wallet market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
Reasons to Buy this Report:
=> Comprehensive analysis of global as well as regional markets of the mobile wallet.
=> Complete coverage of all the product type and application segments to analyze the trends, developments, and forecast of market size up to 2025.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.
