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 full report at Mobile Wallet Market
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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.
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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:
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all Press Releases:
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Mobile
Wallet Market, by Industry Participants:
Mobile
Network Operators (MNOs)
Financial
Institutions (Banks)
Payment
Networks
Intermediaries
Merchants
Consumers
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all Article :
http://www.transparencymarketresearch.com/articles.htm
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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