The global mobile
wallet market is expected to reach USD 1,602.4 billion by 2018,
growing at a CAGR of 30.7% from 2012 to 2018. EMEA (Europe, the
Middle East and Africa) is expected to be the largest market for the
mobile wallet industry in 2018.
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The surge in the
demand for mobile wallets can be attributed mainly to the global
increase in Smartphone penetration. The advent of affordable options
such as budget smartphones and the facilitation of NFC (Near Field
Communication) technology both in the user's device as well as in
Point of Sale (POS) terminals are expected to drive this market over
the next few years. However, lack of awareness regarding the
functioning of mobile wallets as well as considerable concerns among
users about security and privacy are a few factors that may hinder
market growth. Stakeholders in the mobile wallet ecosystem are
attempting to alleviate these concerns and aiming to provide complete
safety of personal and financial information.
Retail formed the
largest application of mobile wallets and was valued at USD 144.8
billion in 2011. This trend is expected to continue owing to the ease
of payment using smartphones at these locations, as well as
initiatives undertaken to equip POS devices in convenience stores.
Vending machines are a niche but significant application of the
mobile wallet technology and are expected to enjoy considerable
support from stakeholders. They provide flexible payment services to
users along with better brand recall value, thus benefitting
merchants and payment providers alike.
The EMEA region
accounted for over 40% of the global revenue share in 2011, due to
the dense population in Africa, and widespread public acceptance of
mobile wallets in Europe. The Asia Pacific region is expected to
witness the fastest growth in terms of revenue over the forecast
period, and the market is expected to grow at a CAGR of 31.0% from
2012 to 2018 in this geography.
There are a number
of players in the mobile wallet industry and they can be
differentiated on the basis of their role in the ecosystem. Mobile
Network Operators (MNOs) are expected to pivot the mobile payment
process, with payment networks and merchants also attempting to
occupy market share. Key participants include Visa Inc., MasterCard,
American Express Inc., PayPal Inc., Google, ISIS, Square Inc. and so
on. This study provides a competitive landscape and detailed company
share analysis, as well as profiles of companies mentioned above.
The report analyzes
the global mobile wallet market in terms of both volumes (million
users) and revenues (USD billion) from 2011 to 2018. The demand for
each geographical region is analyzed on the basis of application from
2011 to 2018, both in terms of volumes and revenues. This study also
analyses the market on the basis of the participants, components,
consumer types, and functionality. The report includes in depth
analysis for each segment which would help in making effective
decisions. The report segments the global mobile wallet market as:
Mobile Wallet
Market, by Industry Participants:
Mobile Network
Operators (MNOs)
Financial
Institutions (Banks)
Payment Networks
Intermediaries
Merchants
Consumers
Mobile Wallet
Market, by Components:
Hardware
Software
Services
Mobile Wallet
Market, by Consumer Type:
Online
Shoppers
Card Users
Cash Payers
Mobile Wallet
Market, by Functionality:
Single
Function
Multiple
Function
Universal
Function
Mobile Wallet
Market, by Application:
Retail
Vending
Machines
Public
Transportation
Grocery
Stores
Restaurants
Mobile Wallet
Market, by Geography:
North
America
EMEA
Asia Pacific
Latin
America
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