Mobile Wallets Market was valued at USD 1,045 Billion in 2022 and is projected to reach USD 3,653 Billion by 2030, growing at a CAGR of 17.6% from 2024 to 2030.
The mobile wallets market has witnessed a significant evolution from 2018 to 2022. Over these years, mobile wallets have gradually transformed from a niche offering to an essential part of daily financial transactions. According to various market analyses, the adoption of mobile wallets surged during these years, driven by a mix of consumer preferences for convenience, the rapid digitalization of payments, and advancements in mobile technology. In 2018, the global mobile wallets market size was valued at around $900 billion, growing at a steady rate through 2020. The pandemic in 2020 accelerated the shift to digital payments, further propelling the market's expansion. During this period, key players like Apple Pay, Google Pay, and Samsung Pay dominated the market with their seamless integration into smartphones and increasing merchant adoption. The growing awareness around contactless payments, combined with enhanced security features such as biometric authentication and tokenization, pushed more consumers and businesses to adopt mobile wallets. The demand during this period was also fueled by regional mobile payment solutions such as WeChat Pay and Alipay in Asia-Pacific, which saw enormous growth due to the region's robust e-commerce landscape and high smartphone penetration. Looking ahead to the mobile wallet demand from 2023 to 2033, forecasts suggest an even more rapid growth trajectory. With the increasing emphasis on financial inclusion and digital payment infrastructure, mobile wallets are expected to integrate more advanced technologies like AI and blockchain. According to projections, the market could see a compound annual growth rate (CAGR) of 23% between 2023 and 2033, surpassing $7 trillion by 2033. The integration of features such as decentralized finance (DeFi) and cryptocurrency support is expected to be a key trend during this period. As mobile wallets continue to evolve, they will play an even larger role in the global economy, creating new opportunities for businesses and consumers alike.
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American Express (US)
Apple Inc. (US)
ATandT INC.(US)
Blackberry Ltd. (Canada)
First Data Corporation (US)
Google Inc. (US)
Sprint Corporation (US)
Samsung (South Korea)
MasterCard Incorporated (US)
Visa Inc (US)
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Mobile Wallets Market
E-Commerce
Ticketing
Mobile Coupon
Mobile Transfer
Micropayment
Based on Types the Market is categorized into Below types that held the largest Mobile Wallets market share In 2023.
Remote Payment
NFC
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Mobile Wallets Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Mobile Wallets Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Mobile Wallets Market, By Type
6. Global Mobile Wallets Market, By Application
7. Global Mobile Wallets Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Mobile Wallets Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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