Mexico Digital Wallet Market - Forecasts from 2025 to 2030
Description
The Mexico digital wallets market is poised to grow from US$4.095 billion in 2025 to US$6.899 billion in 2030 at a CAGR of 10.99%.
A digital or electronic wallet is referred to as an internet or electronic-based payment system that stores both financial values as well as personal identity-related information in a mobile or computer. The growing internet penetration and digitization in Mexico have provided new scope for various digital platforms in the country.
Moreover, with high levels of cross-border spending, booming social media and e-commerce culture in the country are shaping the market demand for digital platforms in Mexico. Additionally, considering the increasing popularity of digital wallets in the country, market players are taking strategic actions and forming partnerships and collaborations to further increase their customer base and subsequently their market share in the upcoming years.
Mexico Digital Wallets Market Drivers
The rising e-commerce and social media culture is bolstering the market growth.
The Mexica digital wallet market is set to note substantial growth in the years ahead, backed by factors like the increasing popularity of e-commerce and social commerce in the country. Though Mexico’s e-commerce market takes just a tiny slice of the country’s overall retail market, however, the ongoing trend of digital transformation followed by investments in high-speed networks has elevated the volume of e-commerce users in the country. According to the International Trade Administration, the strength of e-commerce users in Mexico reached 63 million in 2022, which represented a 5.5 million increase from the figure recorded in 2021.
Moreover, the constant growth in millennials and the young population has increased the scale of media adoption in Mexico which has further improved the level of adopting new associated technical services.
Reasons for buying this report:
Insightful Analysis: Gain detailed market insights covering major as well as emerging geographical regions, focusing on customer segments, government policies and socio-economic factors, consumer preferences, industry verticals, other sub- segments.
Competitive Landscape: Understand the strategic maneuvers employed by key players globally to understand possible market penetration with the correct strategy.
Market Drivers & Future Trends: Explore the dynamic factors and pivotal market trends and how they will shape up future market developments.
Actionable Recommendations: Utilize the insights to exercise strategic decision to uncover new business streams and revenues in a dynamic environment.
Caters to a Wide Audience: Beneficial and cost-effective for startups, research institutions, consultants, SMEs, and large enterprises.
What do businesses use our reports for?
Industry and Market Insights, Opportunity Assessment, Product Demand Forecasting, Market Entry Strategy, Geographical Expansion, Capital Investment Decisions, Regulatory Framework & Implications, New Product Development, Competitive Intelligence
Report Coverage:
Historical data & forecasts from 2022 to 2030
Growth Opportunities, Challenges, Supply Chain Outlook, Regulatory Framework, Customer Behaviour, and Trend Analysis
Competitive Positioning, Strategies, and Market Share Analysis
Revenue Growth and Forecast Assessment of segments and regions including countries
Company Profiling (Strategies, Products, Financial Information, and Key Developments among others)
Mexico Digital Wallets Market is analyzed into the following segments:
By Device
PCs/Laptops
Smartphones
By Application
Money Transfer
Recharge
Movie Booking
Food Ordering
Others
By Technology
Near Field Communication
QR Code
Text-Based/ Short Message Service
Digital Only
By Region
Nuevo León
Coahuila
Federal District
Sonora
Baja California
A digital or electronic wallet is referred to as an internet or electronic-based payment system that stores both financial values as well as personal identity-related information in a mobile or computer. The growing internet penetration and digitization in Mexico have provided new scope for various digital platforms in the country.
Moreover, with high levels of cross-border spending, booming social media and e-commerce culture in the country are shaping the market demand for digital platforms in Mexico. Additionally, considering the increasing popularity of digital wallets in the country, market players are taking strategic actions and forming partnerships and collaborations to further increase their customer base and subsequently their market share in the upcoming years.
Mexico Digital Wallets Market Drivers
The rising e-commerce and social media culture is bolstering the market growth.
The Mexica digital wallet market is set to note substantial growth in the years ahead, backed by factors like the increasing popularity of e-commerce and social commerce in the country. Though Mexico’s e-commerce market takes just a tiny slice of the country’s overall retail market, however, the ongoing trend of digital transformation followed by investments in high-speed networks has elevated the volume of e-commerce users in the country. According to the International Trade Administration, the strength of e-commerce users in Mexico reached 63 million in 2022, which represented a 5.5 million increase from the figure recorded in 2021.
Moreover, the constant growth in millennials and the young population has increased the scale of media adoption in Mexico which has further improved the level of adopting new associated technical services.
Reasons for buying this report:
Insightful Analysis: Gain detailed market insights covering major as well as emerging geographical regions, focusing on customer segments, government policies and socio-economic factors, consumer preferences, industry verticals, other sub- segments.
Competitive Landscape: Understand the strategic maneuvers employed by key players globally to understand possible market penetration with the correct strategy.
Market Drivers & Future Trends: Explore the dynamic factors and pivotal market trends and how they will shape up future market developments.
Actionable Recommendations: Utilize the insights to exercise strategic decision to uncover new business streams and revenues in a dynamic environment.
Caters to a Wide Audience: Beneficial and cost-effective for startups, research institutions, consultants, SMEs, and large enterprises.
What do businesses use our reports for?
Industry and Market Insights, Opportunity Assessment, Product Demand Forecasting, Market Entry Strategy, Geographical Expansion, Capital Investment Decisions, Regulatory Framework & Implications, New Product Development, Competitive Intelligence
Report Coverage:
Historical data & forecasts from 2022 to 2030
Growth Opportunities, Challenges, Supply Chain Outlook, Regulatory Framework, Customer Behaviour, and Trend Analysis
Competitive Positioning, Strategies, and Market Share Analysis
Revenue Growth and Forecast Assessment of segments and regions including countries
Company Profiling (Strategies, Products, Financial Information, and Key Developments among others)
Mexico Digital Wallets Market is analyzed into the following segments:
By Device
PCs/Laptops
Smartphones
By Application
Money Transfer
Recharge
Movie Booking
Food Ordering
Others
By Technology
Near Field Communication
QR Code
Text-Based/ Short Message Service
Digital Only
By Region
Nuevo León
Coahuila
Federal District
Sonora
Baja California
Table of Contents
75 Pages
- 1. INTRODUCTION
- 1.1. Market Overview
- 1.2. Market Definition
- 1.3. Scope of the Study
- 1.4. Market Segmentation
- 1.5. Currency
- 1.6. Assumptions
- 1.7. Base and Forecast Years Timeline
- 1.8. Key Benefits to the Stakeholder
- 2. RESEARCH METHODOLOGY
- 2.1. Research Design
- 2.2. Research Processes
- 3. EXECUTIVE SUMMARY
- 3.1. Key Findings
- 3.2. CXO Perspective
- 4. MARKET DYNAMICS
- 4.1. Market Drivers
- 4.2. Market Restraints
- 4.3. Porter’s Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers
- 4.3.2. Bargaining Power of Buyers
- 4.3.3. Threat of New Entrants
- 4.3.4. Threat of Substitutes
- 4.3.5. Competitive Rivalry in the Industry
- 4.4. Industry Value Chain Analysis
- 4.5. Analyst View
- 5. MEXICO DIGITAL WALLETS MARKET BY DEVICE
- 5.1. Introduction
- 5.2. PCs/Laptops
- 5.3. Smartphone
- 6. MEXICO DIGITAL WALLETS MARKET BY APPLICATION
- 6.1. Introduction
- 6.2. Money Transfer
- 6.3. Recharge
- 6.4. Movie Booking
- 6.5. Food Ordering
- 6.6. Others
- 7. MEXICO DIGITAL WALLETS MARKET BY TECHNOLOGY
- 7.1. Introduction
- 7.2. Near Field Communication
- 7.3. QR Code
- 7.4. Text-Based/Short Message Service
- 7.5. Digital Only
- 8. MEXICO DIGITAL WALLETS MARKET BY REGION
- 8.1. Introduction
- 8.2. Nuevo León
- 8.3. Coahuila
- 8.4. Federal District
- 8.5. Sonora
- 8.6. Baja California
- 9. COMPETITIVE ENVIRONMENT AND ANALYSIS
- 9.1. Major Players and Strategy Analysis
- 9.2. Market Share Analysis
- 9.3. Mergers, Acquisitions, Agreements, and Collaborations
- 9.4. Competitive Dashboard
- 10. COMPANY PROFILES
- 10.1. PayPal
- 10.2. MercadoPago
- 10.3. BillMo
- 10.4. Ebanx
- 10.5. Citibanamex
Pricing
Currency Rates
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