India Mobile Wallet Market By Application (Money Transfer, Recharge, Taxi Booking, Utility Payment, Movie Tickets, Train, Online Food Ordering and Others), Competition Forecast and Opportunities, 2013 - 2024
India mobile wallet market is projected to grow from around $ 16 billion in 2018 to $ 184 billion by 2024, exhibiting growth at a staggering CAGR of 44% during 2019 - 2024. Anticipated growth in the market can be attributed to growing smartphone user base and rising internet penetration across the country. Moreover, various e-commerce companies are now increasingly accepting mobile wallets for convenience of their customers, which is positively influencing the country’s mobile wallet market. Among applications of mobile wallets, money transfer dominates India mobile wallet market as there is high volume of peer to peer and peer to bank transfers. However, online food ordering is anticipated to grow at the fastest pace during forecast period as people find it easier to order food online rather than standing in queue.
Years considered for this report:
Historical Years: 2013-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020–2024
Objective of the Study:
- To define, segment, describe and forecast India mobile wallet market on the basis of Application and Company.
- To analyze and forecast India mobile wallet market size.
- To scrutinize the detailed market segmentation and forecast the market size, in terms of value of transactions, on the basis of application by segmenting India mobile wallet market various applications, namely, Money Transfer, Recharge, Taxi Booking, Utility Payment, Online Food Ordering, Movie Tickets, Train Tickets and Others.
- To identify drivers and challenges for India mobile wallet market.
- To analyze and forecast the market share, in terms of value, for India mobile wallet market with respect to Application and Company.
- To strategically profile leading players in the market which are driving innovation and technological advancements in India mobile wallet market.
Key Players in India mobile wallet market are Paytm Payments Bank Limited, One MobiKwik Systems Private Limited, Oxigen Services (India) Private Limited, Freecharge Payment Technologies Private Limited, PhonePe Private Limited, Vodafone m-pesa Limited, Airtel Payments Bank Limited, Amazon Pay (India) Private Limited, PayU Payments Private Limited and My Mobile Payments Limited. The market is fragmented due to presence of a large number of small mobile wallet operating companies in India mobile wallet market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of mobile wallet providers operating in India. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. TechSci Research further analyzed the product offerings or variants and regional presence of major India mobile wallet providers.
TechSci Research calculated the market size for India mobile wallet market using a bottom-up approach, where data for different components for standard applications was recorded and forecast for the future years. TechSci Research sourced these values from industry experts and company representatives and these were externally validated through analyzing historical data of India mobile wallet market to arrive at the overall market size. Various secondary sources such as secondary company websites, company annual reports, press releases, white papers, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- Mobile wallet solution providers and other stakeholders
- Associations, organizations, forums and alliances associated with mobile wallet market
- Government bodies such as regulating authorities and policy makers
- Applications of mobile wallet which include Money Transfer, Recharges, Taxi Booking, Utility Payments, Movie Tickets and others.
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as India mobile wallet providers, companies, customers and policy makers, about which market segment should be targeted in the coming years in order to strategize investments and capitalize on the growth of the market segment.
In this report, India mobile wallet market has been segmented into the following categories in addition to the industry trends which have also been detailed below:
- Market, by Application:
- Money Transfer
- Utility Payment
- Taxi Bookings
- Online Food Ordering
- Movie Tickets
- Train Tickets
- Market, by Company:
- Paytm Payments Bank Limited
- One MobiKwik Systems Private Limited
- Oxigen Services (India) Private Limited
- Freecharge Payment Technologies Private Limited
Company Profiles: Detailed analysis of the major companies operating in India mobile wallet market.
With the given market data, TechSci Research offers customization according to a company’s specific needs. The following customization options are available for the report:
- Detailed analysis and profiling of additional market players (up to five)
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