Mobile Wallet Market By Application (Mobile Commerce, Money Transfer, Mobile Recharge, Utilities and Bill Payments, and Other Applications), By End-use Application (Retail, Transportation, Restaurants, Utilities, Telecom, and Others) - Growth, Share, Opportunities, Competitive Analysis, and Forecast 2016 – 2023

Report Scope

This report analyses the global mobile wallet market regarding application, end-user, and geography. Based on applications, the market is segmented into mobile commerce, money transfer, mobile recharge, utility and bill payments, and other applications. Similarly, based on end-user, the global mobile wallet market is further classified into retail, transportation, restaurants, utilities, and telecom, among others. The geographical distribution of the global mobile wallet market considered in this study encompasses regional markets such as the Americas, Europe, the Middle East, Africa, and Asia Pacific.


With the flourishing m-commerce industry, there has been a significant rise in mobile shopping and mobile banking activities. The flourishing m-commerce industry, paired with the proliferation of smartphones and Internet penetration, is driving the mobile wallet market worldwide. In addition, technological advancements have led to an increase in the number of smartphones supporting contactless payment technologies like near-field communication (NFC). This, in turn, favors market demand. These factors are expected to contribute to a double-digit compounded annual growth rate (CAGR) during the 2016–2023.

1.1 Report Description

Purpose of the Report

The purpose of this strategic research study titled "Mobile Wallet Market: Growth, Share, Opportunities, and Competitive Analysis, 2016–2023" is to offer industry investors, company executives, and industry participants in-depth insights to enable them to make informed strategic decisions related to the opportunities in the global payments industry.

1.1.1 Target Audience

  • Industry Investors
  • Mobile Wallet Technology Developers
  • Mobile Network Operators (MNO)
  • Value-Added Resellers
  • Banks and Financial Institutions
  • Retailers and merchants
  • Other End-users

The report titled "Global Mobile Wallet Market: Growth, Share, Opportunities, and Competitive Analysis, 2016–2023" offers strategic insights into the global mobile wallet market along with the market size and estimates for the duration of 2013–2023. The said research study covers an in-depth analysis of multiple market segments based on application, end-user, and cross-sectional study across different geographies. To help strategic decision-makers, the report also includes competitive profiling of the key industry participants, their SCOT (Strengths, Challenges, Opportunities, and Weaknesses) analysis, market positioning, and recent developments. Other in-depth analysis provided in the report includes:

  • An overview of the global mobile wallet market
  • Current and future market trends to justify the forthcoming attractive sub-markets within the global payments industry
  • Qualitative assessment tools such as market drivers, challenges and prospects, value chains, and attractive investment propositions
  • Focus on each level of market segmentation based on product approvals, launches, and current and anticipated market dynamics.
  • A general overview of the industry structure
  • Company profiles highlight key information about the major players operating in the global mobile wallet market.
  • Market competition scrutiny tools include market share analysis, fractal maps, etc.
  • SRC (Segment, Region, Country) Analysis

Overall, the research study provides a holistic view of the global mobile wallet market, offering market size and estimates for the period from 2013 to 2023, keeping in mind the above-mentioned factors.

Based on application, the mobile wallet market is categorized into the following segments:

  • Mobile Commerce
  • Money Transfer
  • Mobile Recharge
  • Utility and Bill Payments
  • Other Applications 

Mobile commerce and money transfer were the two leading application segments in the global mobile wallet market in 2015. The segments collectively accounted for over two-thirds of the global market's revenue in the same year. The trend shall continue, and the mobile commerce segment is presumed to retain its leading position throughout the 2016–2023. The proliferation in the e-commerce sector is expected to positively influence the growth of the mobile commerce segment during the forecast period. Looking at a bright prospect, telecom service providers would offer the necessary infrastructure support to mobile wallet vendors required for building robust e-commerce platforms. Thus, the inflow of investments in social media and m-commerce is also expected to have a positive impact on the overall demand in this segment.

Based on end-use, the mobile wallet market is categorized into the following segments:

  • Retail
  • Transportation
  • Restaurants
  • Utilities
  • Telecom
  • Others

As of 2015, retail was the largest end-use segment in the global mobile wallet market in terms of both revenue and number of transactions. The segment accounted for over 45% of the global market revenue in the same year. The trend shall prolong, and the segment is presumed to hold on to its dominant position throughout the forecast period of 2016–2023. The retail sector, which currently boasts the highest penetration rate, is a key segment for vendors and mobile operators. As the technology matures, more retailers are expected to adopt the technology for an effective and easy payment procedure. In addition, the growing number of POS terminals with NFC capabilities is further expected to fuel the adoption of mobile wallet technology among retailers. Other application segments, including transportation and telecoms, are also expected to witness robust growth during the 2016–2023.

Based on geography, the global mobile wallet market is segmented into the following regions and countries:

  • Americas
  • North America
  • U.S.
  • Canada
  • Latin America
  • Mexico
  • Brazil
  • Rest of the World
  • EMEA
  • Europe
  • U.K.
  • France
  • Germany
  • Rest of Europe
  • Middle-East
  • Africa
  • Asia Pacific
  • Japan
  • China
  • India
  • Rest of Asia Pacific

EMEA (Europe, Middle East, and Africa) is currently the largest mobile wallet market in terms of revenue and number of transactions, followed by the Americas and Asia Pacific. In 2015, the region accounted for over one-third of the global market revenue. The region is home to a large base of established market players and has highly advanced infrastructure. The increased alliance among mobile operators is expected to be a key growth driver. The trend shall prolong, and the region is presumed to remain the largest market throughout the 2016–2023. However, Asia Pacific is expected to witness maximum growth, outpacing EMEA and North America during the forecast period of 2016–2023. Growing preference for online transactions and mobile banking, paired with an increasing smartphone penetration rate, is expected to spur market growth in this region.

Frequently Asked Questions:

The market for Mobile Wallet Market is expected to reach XX million in 2023.

The Mobile Wallet Market is expected to see significant CAGR growth over the coming years, at 38.2%.

The report is forecasted from 2016-2023.

The base year of this report is 2015.

Apple, Inc.,Google, Inc., PayPal Holdings Inc,Visa Inc.,BlackBerry Ltd. are some of the major players in the global market.

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Published Date:  Sep 2016
Category:  Technology & Media
Report ID:   58075
Report Format:   PDF
Pages:   120
Rating:    4.5 (70)
Delivery Time: 24 Hours to 48 Hours   
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