(MENAFN- PR Newswire) DUBLIN, Jan. 13, 2023 /PRNewswire/ --
The 'global mobile wallet market size, share & industry trends analysis report by technology, application, regional outlook and forecast, 2022-2028' report has been added to
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The Global Mobile Wallet Market size is expected to reach $30.2 Billion by 2028, rising at a market growth of 27.0% CAGR during the forecast period.
A completely new dimension is provided by mobile wallets for retail sales to enhance their commercial presence. Mobile devices give clients a simple method to pay, but they also open up a new line of communication for businesses and financial institutions with their clientele. In addition, mobile devices make it simple to send and collect data; they may operate specialized programmes and keep track of their position.
The ability to interact with customers about special offers in a way that is focused, practical, and more appropriate to their interests is made possible by mobile connections for retailers and financial institutions. Companies may also create new branded apps which are available for free download.
This feature has the potential to significantly personalize customer interactions by tracking each person's specific buying habits and demands. A fresh opportunity and fierce competition are presented to marketers by such real-time, networked marketing.
COVID-19 Impact Analysis
The majority of key market participants experienced increases in revenues all through the pandemic, despite the fact that most of them acknowledged that the pandemic constituted a risk to their firm and were unsure of its impact.
Mobile payments and digital transactions were propelled globally by the pandemic. It has sped up the e-commerce sector's expansion into new markets, businesses, and product categories. Due to these constraints, mobile wallets have become a practical way to sustain cash flow and maintain the firm afloat.
Market Growth Factors
Growing investment in fintech industry would escalate the growth of mobile wallet
Over the past few years, the fintech sector has grown significantly, prompting banks to push forward with technological investments. For example, Xendit received USD 150 million in a Series C fundraising round in September 2021. The fintech business created cutting-edge digital payment value-added services for clients thanks to this financing. The growing fintech sector investment would open up attractive potential for the growth of the mobile wallet industry. There is an increase in the investments by various companies in the development of various fintech solutions and services.
Higher convenience of mobile wallet
The market is expanding because mobile wallets can conveniently and securely offer possibilities for online bill payments as well as other money transfer services. Additionally, more customers are choosing mobile wallets due to its user-friendly layout, which allows them to collect and make regular payments whenever it's convenient for them. In addition, the user-friendly interface makes it simple to transact while travelling, which is a significant element anticipated to fuel the market's growth.
Market Restraining Factors
Growing cases of cyber-attacks across the world
Despite the widespread use of digital payment systems, the threat of cyberattacks could put a stop to the continuous expansion of the industry. Fintech service providers are increasingly vulnerable to different types of cyber breaches as a result of their quick adoption of new technologies and features to meet client requests. This could have an adverse effect on the growth of the mobile wallet market.
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.2.4 Geographical Expansions
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2018-2022)
3.3.2 Key Strategic Move: (Partnerships, Collaborations & Agreements: 2019, Dec - 2022, Aug) Leading Players
Chapter 4. Global Mobile Wallet Market by Technology
4.1 Global Proximity Market by Region
4.2 Global Remote Market by Region
Chapter 5. Global Mobile Wallet Market by Application
5.1 Global Retail & E-commerce Market by Region
5.2 Global Hospitality & Transportation Market by Region
5.3 Global Banking Market by Region
5.4 Global Vending Machine Market by Region
5.5 Global Others Market by Region
Chapter 6. Global Mobile Wallet Market by Region
Chapter 7. Company Profiles
7.1 Apple, Inc.
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Regional Analysis
7.1.4 Research & Development Expense
7.1.5 Recent strategies and developments:
7.1.5.1 Product Launches and Product Expansions:
7.1.5.2 Acquisition and Mergers:
7.1.6 SWOT Analysis
7.2 Samsung Electronics Co., Ltd. (Samsung Group)
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Segmental and Regional Analysis
7.2.5 Recent strategies and developments:
7.2.5.1 Partnerships, Collaborations, and Agreements:
7.2.5.2 Product Launches and Product Expansions:
7.2.6 SWOT Analysis
7.3 Google LLC
7.3.1 Company Overview
7.3.2 Financial Analysis
7.3.3 Segmental and Regional Analysis
7.3.4 Research & Development Expense
7.3.5 Recent strategies and developments:
7.3.5.1 Product Launches and Product Expansions:
7.3.5.2 Business Expansions:
7.3.6 SWOT Analysis
7.4 Amazon Web Services, Inc. (Amazon.com, Inc.)
7.4.1 Company Overview
7.4.2 Financial Analysis
7.4.3 Segmental Analysis
7.4.4 Recent strategies and developments:
7.4.4.1 Partnerships, Collaborations, and Agreements:
7.4.4.2 Product Launches and Product Expansions:
7.4.4.3 Acquisitions and Mergers:
7.4.4.4 Geographical Expansions:
7.4.5 SWOT Analysis
7.5 PayPal Holdings, Inc.
7.5.1 Company Overview
7.5.2 Financial Analysis
7.5.3 Regional Analysis
7.5.4 Research & Development Expense
7.5.5 Recent strategies and developments:
7.5.5.1 Partnerships, Collaborations, and Agreements:
7.5.5.2 Product Launches and Product Expansions:
7.6 Ant Group (Alipay) (Alibaba Holding)
7.6.1 Company Overview
7.6.2 Financial Analysis
7.6.3 Segmental Analysis
7.6.4 Recent strategies and developments:
7.6.4.1 Partnerships, Collaborations, and Agreements:
7.7 AT&T, Inc. (AT&T Intellectual Property)
7.7.1 Company Overview
7.7.2 Financial Analysis
7.7.3 Segmental and Regional Analysis
7.7.4 Research & Development Expense
7.7.5 Recent strategies and developments:
7.7.5.1 Product Launches and Product Expansions:
7.8 Mastercard, Inc.
7.8.1 Company Overview
7.8.2 Financial Analysis
7.8.3 Regional Analysis
7.8.4 Recent strategies and developments:
7.8.4.1 Partnerships, Collaborations, and Agreements:
7.8.4.2 Acquisition and Mergers:
7.9 Visa, Inc.
7.9.1 Company Overview
7.9.2 Financial Analysis
7.9.3 Recent strategies and developments:
7.9.3.1 Partnerships, Collaborations, and Agreements:
7.9.3.2 Acquisition and Mergers:
7.10. American Express Company
7.10.1 Company Overview
7.10.2 Financial Analysis
7.10.3 Segmental and Regional Analysis
7.10.4 Recent strategies and developments:
7.10.4.1 Partnerships, Collaborations, and Agreements:
7.10.4.2 Product Launches and Product Expansions:
7.10.4.3 Acquisition and Mergers:
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