Smart wallets are essentially digitally connected wallets which can carry various payment cards and money. Enabled with connectivity to smartphones, smart wallets offer numerous features such as tracking, detection and locating wallets through the smartphone application. Currently, smart wallets make use of technologies such as Bluetooth, global positioning systems (GPS), near field communication (NFC) and cellular networks, among others to communicate with smartphones and offer other payment and alarming features. Smart wallets make use of the Bluetooth technology to keep a track on the distance between the user carrying his or her smartphone and the wallet itself. Once the smart wallet gets out of the range and loses Bluetooth connectivity, the smartphone application quickly raises an alarm alerting the user. In addition, most of the latest smart wallets available in the market offer bi-directional connectivity enabling tracking of the smart wallet through the smartphone and vice versa. Some of the other features offered in the latest smart wallets include usage of a micro camera to click a picture once the wallet is opened in theft mode. The picture clicked in this mode is immediately sent to the user’s smartphone along with the current location of the smart wallet. Thereby, smart wallets have offered a viable solution for users from all across the world to track and locate their lost or stolen wallets. Some of the other security features include RFID blocking which prevents malicious reading of contactless cards stored in the wallet.
Manufacturers of smart wallets have been increasingly focusing on providing enhanced utility in their products while maintaining the small size of the wallets. For instance, numerous manufacturers have incorporated features such as power banks, pen drives, bottle opener and other utility tools within the confined space of the wallet. Thereby, the overall market has been experiencing an introduction of smart wallets with numerous features to compel users to switch from traditional wallets to the smart ones.
The report titled “Global Smart Wallets Market- Growth, Future Prospects and Competitive Analysis, 2021 – 2028” offers strategic insights into the global smart wallets market along with the market size and estimates for the duration 2019 to 2028. The said research study covers in-depth analysis of multiple market segments based on material type, sales channel and cross-sectional study across different geographies and sub-geographies. The study covers the comparative analysis of different segments for the years 2020 & 2028. The report also provides a prolific view on market dynamics such as market drivers, restraints and opportunities. In addition, the report covers a section providing production and pricing trends in some of the major markets.
In order to help strategic decision makers, the report also includes competitive profiling of the leading providers of smart wallets, market positioning and key developments. Some of the major players profiled in the report are Ekster Wallets BV, Wocket (NXT-ID, Inc.), Cashew (Revol, Inc.), Walli Wearables, Woolet.co, Volterman and Voyager Smart (Cuir Ally).
Other in-depth analysis provided in the report includes:
- Current and future market trends to justify the forthcoming attractive markets within the smart wallets industry
- Market fuelers, market impediments, and their impact on the market growth
- In-depth competitive environment analysis
- Trailing 2-Year market size data (2019 – 2020)
Overall, the research study provides a holistic view of the global smart wallets market, offering market size and estimates for the period from 2021 to 2028, keeping in mind the above mentioned factors.
