Mobile Wallet Market Segments: by Industry Size (Large Enterprises, SMBs); by Transaction Mode (Short Message Service, Near-Field-Communication, and Wireless Application Protocol) and Region – Global Analysis of Market Size, Share & Trends for 2014 – 2020 and Forecasts to 2030
Exclusive deal : 20% Instant discount on Direct purchases! Don't wait—claim your discount today!
Product Overview
Mobile wallet is a term used for virtual wallet payment as mWallet, digital wallet or eWallet. This is a mobile innovation and can be used efficiently by retailers by listing to their preferred mobile wallet network operator. Simply put, an application that enables users to send and receive money from their mobile devices is known as a mobile wallet. It is a mobile trade model aimed at making the payment services of a user easily accessible and comfortable. A mobile wallet enables consumers to transfer money from anywhere, even during travel. This provides not only cheaper transaction facilities, but also facilitates easy account management by consumers.
Market Highlights
Global Mobile Wallet Market is expected to project a notable CAGR of 24.58% in 2030.
Global Mobile Wallet Market to surpass USD XXXX million by 2030 from USD XXXX million in 2020 at a CAGR of 24.58% in the coming years, i.e., 2021-30. More smartphones are anticipated to fuel the market over the forecast period, combined with a high Internet penetration. Further growth in the market is anticipated to augment better availability of mobile wireless payout applications. In addition, many governments worldwide are implementing digital payment initiatives. The Indian Government, for example, has introduced the Digital India initiative to encourage the country's digital payment methodologies and cashless transactions.
Global Mobile Wallet Market: Segments
Large enterprises are anticipated to grow at a CAGR of over XX% from 2019 to 2030
Global Mobile Payment Market is segmented by size into large enterprises, SMBs Due to growing usage of the safety solutions to prevent critical information, SMBs are also anticipated to experience significant growth over the forecast period. Organizations of all sizes are moving to digital transactions to reduce the burden on their IT support workers, lower costs and provide advanced service. Mobile Payment has been rapidly embraced and security companies have developed comprehensive cloud-based security solutions.
Short Message Service dominated the market with XX% Market share in 2019 and is anticipated to witness significant growth in the forecasted period
Global Mobile Payment market is segmented by transaction mode into Short Message Service, Near-Field-Communication, and Wireless application protocol SMS payment is a way of paying for goods and services by sending a mobile text message. SMS payment is the most common and preferred form of making mobile pay as customers only need the use of a smartphone with text message functionality. These transaction payment gateway systems have a virtual terminal. These systems contribute to the authentication and authorization of payment proof between the vendor and the customer. The cost of the transaction is added to a client bill monthly or deducted from the prepaid balance by the telephone operator. In Europe, SMS transfers are used for parking and to purchase buses and trams in comparison to the United States. Given the fact that SMS payments are dominant in the mobile payment market, people purchase food, drink, and taxi services with this app.
Global Mobile Wallet Market Dynamics
Drivers
Faster and better consumer experience:
Companies invested in new technology to meet the fast-changing market climate and have improved customer service. Mobile payments offer valuable data for consumers that companies can help influence future strategies. The enhancement of consumer service and increased trading profits is driven by digital payments. The transaction data collected from Mobile payments provide retailers with specific consumer insights and help to improve various business aspects, including marketing, promotional, and customer service choices.
Smart devices and internet penetration:
More smartphones are anticipated to fuel the market over the forecast period, combined with a high Internet penetration. Further growth in the market is anticipated to augment better availability of mobile wireless payout applications. In addition, many governments worldwide are implementing digital payment initiatives. The Indian Government, for example, has introduced the Digital India initiative to encourage the country's digital payment methodologies and cashless transactions.
Restraints
Lacking the standard level
The number of organizations buying goods and services worldwide increased year after year in cross-border trade. Mobile payment services are, however, unable to obtain a competitive advantage, given the lack of a single standardized global payment system, the lack of common standards, and diverse regulatory regulations. Countries have numerous payment rules and compliance with data storage that render unsustainable payments across borders. Furthermore, the national payment system is not for cross-border payment purposes.
Global Mobile Wallet Market: Key Players
American Express Company
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Amazon.com, Inc.
Ant Financial Services Group
Allied Wallet, Inc.
Apple Inc.
AT&T Inc.
Barclays plc
Due Inc.
First Data Corporation
Google LLC
ICICI Bank Limited
J.P. Morgan Chase & Co., Mastercard Incorporated
Mozido Inc.
One Mobikwik System Pvt Ltd.
One Communications
Other Prominent Players
Global Mobile Wallet Market: Regions
Global Mobile Wallet Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. During the projected timeline, North America ought to have the highest share in the total market for Mobile Wallet. With a share value of US$ XX billion, North America held the largest the industry in 2019. There are a great number of mobile payment solution providers in the area as a result of the growth in the industry. Possible factors driving the demand are the growth of the mobile trading industry and the growing digital economy in North America. Different factors such as trustworthy broadband and network infrastructure, consumer readiness, and cashless payment desires and the banking system in Canada contribute widely to the country's higher cashless transactions.
Global Mobile Wallet Market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
Global Mobile Wallet Market report also contains analysis on:
Mobile Wallet Segments:
By Size:
Large enterprises
SMBs
By transaction mode:
Short Message Service
Near-Field-Communication
Wireless application protocol
Mobile Wallet Market Dynamics
Mobile Wallet Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
Contents
1. Executive Summary
2. Global Mobile Wallet Market
1. Product Overview
2. Market Definition
3. Segmentation
4. Assumptions and Acronyms
3. Research Methodology
1. Research Objectives
2. Primary Research
3. Secondary Research
4. Forecast Model
5. Market Size Estimation
4. Average Pricing Analysis
5. Macro-Economic Indicators
6. Market Dynamics
1. Growth Drivers
2. Restraints
3. Opportunity
4. Trends
7. Correlation & Regression Analysis
1. Correlation Matrix
2. Regression Matrix
8. Recent Development, Policies & Regulatory Landscape
9. Risk Analysis
1. Demand Risk Analysis
2. Supply Risk Analysis
10. Global Mobile Wallet Market Analysis
1. Porters Five Forces
1. Threat of New Entrants
2. Bargaining Power of Suppliers
3. Threat of Substitutes
4. Rivalry
2. PEST Analysis
1. Political
2. Economic
3. Social
4. Technological
11. Global Mobile Wallet Market
1. Market Size & forecast, 2020A-2030F
1. By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
2. By Volume (Million Units) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12. Global Mobile Wallet Market: Market Segmentation
1. By Regions
1. North America:(U.S. and Canada), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
2. Latin America: (Brazil, Mexico, Argentina, Rest of Latin America), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
3. Europe: (Germany, UK, France, Italy, Spain, BENELUX, NORDIC, Hungary, Poland, Turkey, Russia, Rest of Europe), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
4. Asia-Pacific: (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia Pacific), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
5. Middle East and Africa: (Israel, GCC, North Africa, South Africa, Rest of Middle East and Africa), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
2. By industry size (,); by (: Market Share (2020-2030F)
1. large enterprises, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
2. SMBs, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
3. By transaction mode: Market Share (2020-2030F)
1. Short Message Service, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
2. Near-Field-Communication, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
3. Wireless application protocol, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
Company Profile
1. American Express Company
1. Company Overview
2. Company Total Revenue (Financials)
3. Market Potential
4. Global Presence
5. Key Performance Indicators
6. SWOT Analysis
7. Product Launch
2. Amazon.com, Inc.
3. Ant Financial Services Group
4. Allied Wallet, Inc.
5. Apple Inc.
6. AT&T Inc.
7. Barclays plc
8. Due Inc.
9. First Data Corporation
10. Google LLC
11. ICICI Bank Limited
12. J.P. Morgan Chase & Co., Mastercard Incorporated
13. Mozido Inc.
14. One Mobikwik System Pvt Ltd.
15. One Communications
16. Other Prominent Players
Consultant Recommendation
**The above-given segmentations and companies could be subjected to further modification based on in-depth feasibility studies conducted for the final deliverable.
Research Methodology:
Mobile Wallet Market Size Estimation
To estimate market size and trends, we use a combination of top-down and bottom-up methods. This allows us to evaluate the market from various perspectives—by company, region, product type, and end users.
Our estimates are based on actual sales data, excluding any discounts. Segment breakdowns and market shares are calculated using weighted averages based on usage rates and average prices. Regional insights are determined by how widely a product or service is adopted in each area.
Key companies are identified through secondary sources like industry reports and company filings. We then verify revenue estimates and other key data points through primary research, including interviews with industry experts, company executives, and decision-makers.
We take into account all relevant factors that could influence the market and validate our findings with real-world input. Our final insights combine both qualitative and quantitative data to provide a well-rounded view. Please note, these estimates do not account for unexpected changes such as inflation, economic downturns, or policy shifts.
Data Source
Secondary Sources
This study draws on a wide range of secondary sources, including press releases, annual reports, non-profit organizations, industry associations, government agencies, and customs data. We also referred to reputable databases and directories such as Bloomberg, Wind Info, Hoovers, Factiva, Trading Economics, Statista, and others. Additional references include investor presentations, company filings (e.g., SEC), economic data, and documents from regulatory and industry bodies.
These sources were used to gather technical and market-focused insights, identify key players, analyze market segmentation and classification, and track major trends and developments across industries.
| Market Size |
|
|
| Market Position of Top Company |
|
|
| Qualitative Analysis |
|
|
Primary Sources
As part of our primary research, we interviewed a variety of stakeholders from both the supply and demand sides to gather valuable qualitative and quantitative insights.
On the supply side, we spoke with product manufacturers, competitors, industry experts, research institutions, distributors, traders, and raw material suppliers. On the demand side, we engaged with business leaders, marketing and sales heads, technology and innovation directors, supply chain executives, and end users across key organizations.
These conversations helped us better understand market segmentation, pricing, applications, leading players, supply chains, demand trends, industry outlook, and key market dynamics—including risks, opportunities, barriers, and strategic developments.
Key Data Information from Primary Sources
| Primary Sources | Parameters | Key Data |
| Market Segments(by Application, by Type) |
|
|
| Total Market |
|
|