Us Mobile Wallets Market Size By Applications, By Type, By End-User, By Deployment & By Technology 2032
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 U.S. mobile wallet market is experiencing significant growth, driven by technological advancements and changing consumer preferences. In 2024, the global mobile wallet market was valued at approximately USD 15.9 billion, with projections indicating it will reach USD 113.1 billion by 2032, growing at a compound annual growth rate (CAGR) of 28.5% during 2025–2032. This surge reflects a broader shift towards digital payments, with mobile wallets accounting for 49% of all e-commerce transactions globally in 2023.
Leading companies are capitalizing on this trend. PayPal, for instance, has set ambitious targets, aiming for 8% to 10% growth in branded checkout volume by 2027. The company is focusing on expanding its Venmo app's contributions and introducing offerings like PayPal Open to streamline merchant integrations. Despite facing competition from platforms like Apple Pay, PayPal's strategic initiatives underscore its commitment to maintaining a strong foothold in the market.
Similarly, Block Inc., known for its Square and Cash App platforms, reported a gross profit of $2.31 billion in the fourth quarter of 2024. The company anticipates at least 15% growth in this metric for the year, driven by product integrations such as Afterpay with Cash App and enhanced features for the Cash App Card. These developments aim to boost user engagement and profitability.
Apple Pay, since its launch in 2014, has become a ubiquitous payment method. With the upcoming iOS 18.1 update, Apple plans to allow third-party developers access to NFC technology, enabling users to set default contactless payment apps. This move could expand tap-to-pay functionality and introduce new applications like digital keys and ID cards, potentially reshaping the mobile wallet landscape.
From personal experience, the convenience of mobile wallets has transformed daily transactions. The ability to make quick, secure payments without physical cards has streamlined both personal and business dealings. As more merchants adopt contactless payment systems, the reliance on mobile wallets is expected to grow, further embedding them into the fabric of everyday commerce.
In conclusion, the U.S. mobile wallet market is poised for substantial growth, driven by technological innovation and evolving consumer behaviors. Companies like PayPal, Block Inc., and Apple are at the forefront, continually adapting to meet the demands of a digital-first economy. As the market expands, users can anticipate more integrated and versatile payment solutions, enhancing the overall transaction experience.
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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
Peer-to-Peer Transactions
Mobile Payment Solutions
Payment Processing Services
In-App Payment Services
Android
iOS
Web-Based
(e.g., Windows Mobile)
Credit/Debit Cards
Bank Transfers
Digital Currencies (e.g., cryptocurrencies)
Prepaid Accounts
Retail
Hospitality
Transportation
Healthcare
Entertainment
Individuals
Small and Medium Enterprises (SMEs)
Large Corporations
Government Institutions
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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