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Global Mobile Wallet Market 2017-2021

Global Mobile Wallet Market 2017-2021

About Mobile Wallets

The growing use of 3G and 2G mobile data and broadband globally is a major factor contributing to the growth of the global mobile wallet market. Mobile wallets are equipped with options like integration with coupons and tickets, which are making them highly popular among users. In addition, users can also save their card and bank details on their smartphones and make payments and purchases easily. The increasing technological advances in NFC devices and growing security of payment portals are other factors driving the market growth.

Technavio’s analysts forecast the global mobile wallet market to grow at a CAGR of 35.5% during the period 2017-2021.

Covered in this report

The report covers the present scenario and the growth prospects of the global mobile wallet market for 2017-2021. To calculate the market size, the report considers the revenue generated from the from retail transactions sourced through mobile wallets. These transactions include m-commerce transactions, mobile ticketing, mobile coupons, money transfer, and micropayments.

The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global Mobile Wallet Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • Alibaba Group
  • Apple
  • Citrus Payment Solutions
  • Google
  • MasterCard
  • Oxigen Services
  • PayPal Holdings
  • Samsung Electronics
  • Visa
Other prominent vendors
  • Airtel
  • American Express
  • Bank of America
  • Dwolla
  • LevelUp
  • LivQuik
  • Merchant Customer Exchange
  • MobiKwik
  • M-Pesa
  • Square
  • Venmo
  • Y-cash Software Solutions
  • ZipCash
Market driver
  • High adoption of contactless payment solutions
  • For a full, detailed list, view our report
Market challenge
  • Lack of awareness about features of mobile wallet technology
  • For a full, detailed list, view our report
Market trend
  • Rapid growth in 3G/4G subscriptions and mobile data consumption
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2020 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the key vendors?
  • What are the strengths and weaknesses of the key vendors?


Press Release

Technavio Announces the Publication of its Research Report – Global Mobile Wallet Market 2017-2021

Technavio recognizes the following companies as the key players in the global mobile wallet market: Alibaba, Apple, Citrus Payment Solutions, Google, MasterCard, Oxigen Services, PayPal Holdings, Samsung Electronics, and Visa

Other Prominent Vendors in the market are: Airtel, American Express, Bank of America, Dwolla, LevelUp, LivQuik, Merchant Customer Exchange, MobiKwik, M-Pesa, Square, Venmo, Y-cash Software Solutions, and ZipCash

Commenting on the report, an analyst from Technavio’s team said: “The governments of countries across the Americas and EMEA have introduced stringent regulations to secure digital payment gateways. Governments in developed countries, in particular, have mandated the recertification of electronic payment systems used by merchants. In addition, with regard to electronic systems employed by retailers that connect to payment networks, mobile wallet services also need to be certified by financial institutions, card associations, and payment processors. These certifications must comply with government and telecom regulations in other countries. The introduction of stringent regulations is expected to boost the credibility of mobile wallet services among consumers and drive the growth of the market.”

According to the report, the introduction of mobile payment gateways such as Apple Pay, Samsung Pay, and Android Pay has simplified the process of paying bills. Customers no longer need to carry credit or debit cards. One of the major reasons for these big players to come forward with the NFC-based mobile payment option is its security features, where neither a consumer nor a retailer can access the card information or security code illegitimately. Users are required to save their financial data on their smartphones once. They can make transactions by bringing the phone closer to the vendor's contactless payment-capable POS system. Once the connection is established, users approve the transaction either by scanning their fingerprint or by entering the secure password known only to them.

Further, the report states that the growth of the mobile wallet market depends on the demand and availability of NFC POS terminals. As POS terminals for NFC payments are expensive, retailers will likely upgrade their infrastructure only if there is widespread adoption of contactless payments among consumers. Though companies such as Samsung Electronics, Orange, AT&T, Starbucks, and Gemalto are supporting contactless payments, retailers have not yet upgraded their POS terminals as it expensive. This inter-dependence of retailers and technology providers is slowing down the growth of the global mobile wallet market.



Companies Mentioned

Alibaba, Apple, Citrus Payment Solutions, Google, MasterCard, Oxigen Services, PayPal Holdings, Samsung Electronics, Visa, Airtel, American Express, Bank of America, Dwolla, LevelUp, LivQuik, Merchant Customer Exchange, MobiKwik, M-Pesa, Square, Venmo, Y-cash Software Solutions, ZipCash

  • Executive summary
  • Scope of the report
    • Market overview
    • Base year and forecast period
    • Vendor selection criteria
    • Numerical figures
    • Top-vendor offerings
      • Table Product offerings
  • Market research methodology
    • Research methodology
    • Economic indicators
  • Introduction
    • Key market highlights
  • Market landscape
    • Correlation of mobile internet with global mobile wallet market
      • Table Global shipment of smartphones and tablets 2011-2015 (millions of units)
    • External factors influencing mobile wallet transactions
      • Table External factors influencing mobile wallet transactions
    • Global mobile wallet market
      • Table Global mobile wallet market 2016-2021 ($ billions)
      • Table Global mobile wallet market by number of users 2016-2021 (millions of users)
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by application
    • Global mobile wallet market by application
      • Table Global mobile wallet market by application 2016 (% share)
      • Table Revenue comparison of global mobile wallet market by application 2016-2021 ($ billions)
    • Global mobile wallet market by retail stores
      • Table Global mobile wallet market by retail stores 2016-2021 ($ billions)
    • Global mobile wallet market by vending machines
      • Table Global mobile wallet market by vending machines 2016-2021 ($ billions)
    • Global mobile wallet market by transportation
      • Table Global mobile wallet market by transportation 2016-2021 ($ billions)
    • Global mobile wallet market by restaurants
      • Table Global mobile wallet market by restaurants 2016-2021 ($ billions)
    • Global mobile wallet market by grocery stores
      • Table Global mobile wallet market by grocery stores 2016-2021 ($ billions)
  • Market segmentation by industry
    • Global mobile wallet market by industry
      • Table Global mobile wallet market by industry 2016 (% share)
  • Geographical segmentation
    • Global mobile wallet market by geography
      • Table Global mobile wallet market by geography 2016 (% share)
    • Mobile wallet market in Americas
      • Table Mobile wallet market in Americas 2016-2021 ($ billions)
    • Mobile wallet market in APAC
      • Table Mobile wallet market in APAC 2016-2021 ($ billions)
    • Mobile wallet market in EMEA
      • Table Mobile wallet market in EMEA 2016-2021 ($ billions)
  • Key leading countries
    • Mobile wallet market in India
      • Table Popular mobile wallet apps in India 2016 (% share)
      • Table Mobile wallet market in India 2016-2021 ($ billions)
    • Mobile wallet market in UK
      • Table Mobile wallet use by age in UK 2016 (% share)
      • Table Mobile wallet market in UK 2016-2021 ($ billions)
    • Mobile wallet market in US
      • Table Most trusted mobile wallet providers by type of smartphone 2016 (% share)
      • Table Mobile wallet in US 2016-2021 ($ billions)
  • Buying criteria
    • Table Buying criteria
  • Market drivers
    • Increased use of m-commerce
      • Table Global m-commerce market 2016-2021 ($ billions)
    • High adoption of contactless payment solutions
    • Increased adoption of mobile payment and digital wallet services
    • Extensive use of mobile devices for payments
    • Growing number of mobile internet users
  • Impact of drivers
    • Table Impact of drivers
  • Market challenges
    • Limited mobile POS terminals
    • Lack of awareness about features of mobile wallet technology
    • Privacy and security concerns
  • Impact of drivers and challenges
    • Table Impact of drivers and challenges
  • Market trends
    • Stringent regulations for secure payments
    • Rapid growth in 3G/4G subscriptions and mobile data consumption
    • Emergence of HCE
    • Growing awareness about mobile wallets
  • Vendor landscape
    • Competitive scenario
    • Key vendors
      • Table Other prominent vendors
  • Appendix
    • List of abbreviations
  • Explore Technavio

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