Smart Wallets Market Share, Growth and Forecast 2028

Summary
Table Of Content

Market Insights:

Smart wallets are essentially digitally connected wallets that 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 Bluetooth technology to keep track of the distance between the user’s smartphone and the wallet itself. Once the smart wallet gets out of range and loses Bluetooth connectivity, the smartphone application quickly raises the 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 the usage of a micro camera to snap 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. As a result, smart wallets have provided a viable solution for users worldwide to track and locate their lost or stolen wallets. Some of the other security features include RFID blocking, which prevents the malicious reading of contactless cards stored in the wallet.

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Manufacturers of smart wallets have increasingly focused on providing enhanced utility in their products while keeping the wallets small in size. For instance, numerous manufacturers have incorporated features such as power banks, pen drives, bottle openers, and other utility tools within the confined space of the wallet. As a result, the overall market has seen the introduction of smart wallets with numerous features to entice users to switch from traditional wallets to smart wallets.

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 of 2019–2028. The said research study covers an in-depth analysis of multiple market segments based on material type, sales channel, and a cross-sectional study across different geographies and sub-geographies. The study covers the comparative analysis of different segments for the years 2020 and 2028. The report also provides a prolific view of 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, and 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 wallet industry
Market fuelers, market impediments, and their impact on 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.

The global smart wallets market is segmented, based on material type, into the following categories:

Metallic
Non-metallic

In terms of material type, the non-metallic segment led the overall smart wallets market in 2016. The segment held almost three-quarters of the share in the overall smart wallet market across the globe. Factors such as the continued demand for fine leather products and elegant styling have compelled smart wallet manufacturers to use such materials. In addition, the use of non-metallic materials results in a lower weight as compared to their metallic counterparts. As a result, non-metallic smart wallets have grown in popularity among consumers.

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The metallic smart wallets make use of various materials, including aluminum and stainless steel, among others, to offer enhanced robustness and strength to the wallet. In addition, manufacturers use metals to produce enclosed wallets, which offer higher protection against damage from shock, water, and heat, among others. However, metallic smart wallets are used in a limited number of applications where the user could expose their wallets to such harsh conditions. Moreover, metallic wallets offer a cold and unnatural feel as compared to wallets made using leather or other fabrics, resulting in limited adoption.

The global smart wallets market has been segmented geographically into the following regions and countries:

North America

- U.S.
- rest of North America
Europe
- U.K.
- Germany
- France
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
Rest of the World (RoW)
- Middle East and Africa (MEA)
- Latin America

In 2020, North America represented the largest market for smart wallets in terms of revenue. The growth of the smart wallet market in the region is primarily supported by higher technological adoption and consumer awareness. In addition, most of the pioneers in the smart wallet industry are headquartered in the U.S., which has further fueled the adoption of these products. The region accounted for almost half of the overall smart wallet sales in 2020 across the world. With continued demand and technological advancements in smart wallets, the market in the North American region is expected to witness significant growth in the following years.

Europe and Asia Pacific regions trailed North America in terms of sales in the global smart wallets market. Leading markets for smart wallets in the Europe region include the UK, Germany, and France, among others. In the Asia Pacific region, countries such as Japan, China, and India offer immense growth opportunities for the smart wallet market in the future.

Chapter 1 Preface
1.1 Report Description
1.1.1 Purpose of the Report
1.1.2 Target Audience
1.1.3 USP and Key Offerings
1.2 Research Scope
1.3 Market Segmentation
1.4 Research Methodology
1.4.1 Phase I – Secondary Research
1.4.2 Phase II – Primary Research
1.4.3 Phase III – Expert Panel Review
1.4.4 Assumptions
1.4.5 Approach Adopted

Chapter 2 Executive Summary
2.1 Market Snapshot: Global Smart Wallets Market
2.2 Global Smart Wallets Market, By Material Type
2.3 Global Smart Wallets Market, By Sales Channel
2.4 Global Smart Wallets Market, By Geography

Chapter 3 Market Dynamics
3.1 Product Insights and Market Overview
3.1.1 Global Smart Wallets Market Revenue and Growth, 2019 – 2028, (US$ Mn) (Y-o-Y %)
3.2 Key Market Trends and Future Outlook
3.3 Market Drivers
3.4 Market Growth Inhibitors
3.4.1 Impact Analysis of Drivers and Restraints
3.5 Attractive Investment Proposition
3.6 Competitive Analysis
3.6.1 Market Positioning of Key Vendors
3.6.2 Key Strategies adopted by the Leading Players

Chapter 4 Global Smart Wallets Market Analysis, By Material Type
4.1 Market Analysis
4.2 Metallic
4.3 Non-metallic

Chapter 5 Global Smart Wallets Market Analysis, By Sales Channel
5.1 Market Analysis
5.2 Online
5.3 Retail Stores

Chapter 6 North America Smart Wallets Market Analysis
6.1 Overview
6.2 North America Smart Wallets Market Analysis, By Material Type, 2019 – 2028
6.2.1 Market Analysis
6.3 North America Smart Wallets Market Analysis, By Sales Channel, 2019 – 2028
6.3.1 Market Analysis
6.4 North America Smart Wallets Market Analysis, By Region, 2019 – 2028
6.4.1 U.S.
6.4.2 Rest of North America

Chapter 7 Europe Smart Wallets Market Analysis
7.1 Overview
7.2 Europe Smart Wallets Market Analysis, By Material Type, 2019 – 2028
7.2.1 Market Analysis
7.3 Europe Smart Wallets Market Analysis, By Sales Channel, 2019 – 2028
7.3.1 Market Analysis
7.4 Europe Smart Wallets Market Analysis, By Region, 2019 – 2028
7.4.1 U.K.
7.4.2 Germany
7.4.3 France
7.4.4 Rest of Europe

Chapter 8 Asia Pacific Smart Wallets Market Analysis
8.1 Overview
8.2 Asia Pacific Smart Wallets Market Analysis, By Material Type, 2019 – 2028
8.2.1 Market Analysis
8.3 Asia Pacific Smart Wallets Market Analysis, By Sales Channel, 2019 – 2028
8.3.1 Market Analysis
8.4 Asia Pacific Smart Wallets Market Analysis, By Region, 2019 – 2028
8.4.1 China
8.4.2 Japan
8.4.3 India
8.4.4 Rest of Asia Pacific

Chapter 9 Rest of the World (RoW) Smart Wallets Market Analysis
9.1 Overview
9.2 RoW Smart Wallets Market Analysis, By Material Type, 2019 – 2028
9.2.1 Market Analysis
9.3 RoW Smart Wallets Market Analysis, By Sales Channel, 2019 – 2028
9.3.1 Market Analysis
9.4 RoW Smart Wallets Market Analysis, By Region, 2019 – 2028
9.4.1 Middle East & Africa (MEA)
9.4.2 Latin America

Chapter 10 Company Profiles
10.1 Ekster Wallets BV
10.2 Wocket (NXT-ID, Inc.)
10.3 Cashew (Revol, Inc.)
10.4 Walli Wearables
10.5 Woolet.co
10.6 Volterman
10.7 Voyager Smart (Cuir Ally)

List of Figures

FIG. 1 Global Smart Wallets: Market Segmentation
FIG. 2 Global Smart Wallets Market: Research Methodology
FIG. 3 Top-Down and Bottom Up Approach
FIG. 4 Global Smart Wallets Market, By Material Type, 2016 (US$ Mn)
FIG. 5 Global Smart Wallets Market, By Sales Channel, 2016 (US$ Mn)
FIG. 6 Global Smart Wallets Market, By Geography, 2016 (US$ Mn)
FIG. 7 Global Smart Wallets Market Revenue and Growth, 2019 – 2028, (US$ Mn) (Y-o-Y %)
FIG. 8 Attractive Investment Proposition
FIG. 9 Market Positioning of Key Smart Wallets Vendors, 2016
FIG. 10 Global Smart Wallets Market Revenue Contribution, By Material Type, 2016 & 2028 (Value %)
FIG. 11 Global Metallic Smart Wallets Market Revenue, 2019 – 2028, (US$ Mn)
FIG. 12 Global Non-metallic Smart Wallets Market Revenue, 2019 – 2028, (US$ Mn)
FIG. 13 Global Smart Wallets Market Revenue Contribution, By Sales Channel, 2016 & 2028 (Value %)
FIG. 14 Global Smart Wallets Market Revenue from Online Sales, 2019 – 2028, (US$ Mn)
FIG. 15 Global Smart Wallets Market Revenue from Retail Stores, 2019 – 2028, (US$ Mn)
FIG. 16 North America Smart Wallets Market Revenue, 2019 – 2028, (US$ Mn)
FIG. 17 Europe Smart Wallets Market Revenue, 2019 – 2028, (US$ Mn)
FIG. 18 Asia Pacific Smart Wallets Market Revenue, 2019 – 2028, (US$ Mn)
FIG. 19 RoW Smart Wallets Market Revenue, 2019 – 2028, (US$ Mn)

List of Tables

TABLE 1 Market Snapshot: Global Smart Wallets Market
TABLE 2 Impact Indicators
TABLE 3 Impact Analysis of Drivers and Restraints
TABLE 4 North America Smart Wallets Market Revenue, By Material Type, 2019 – 2028 (US$ Mn)
TABLE 5 North America Smart Wallets Market Revenue, By Sales Channel, 2019 – 2028 (US$ Mn)
TABLE 6 Europe Smart Wallets Market Revenue, By Material Type, 2019 – 2028 (US$ Mn)
TABLE 7 Europe Smart Wallets Market Revenue, By Sales Channel, 2019 – 2028 (US$ Mn)
TABLE 8 Asia Pacific Smart Wallets Market Revenue, By Material Type, 2019 – 2028 (US$ Mn)
TABLE 9 Asia Pacific Smart Wallets Market Revenue, By Sales Channel, 2019 – 2028 (US$ Mn)
TABLE 10 RoW Smart Wallets Market Revenue, By Material Type, 2019 – 2028 (US$ Mn)
TABLE 11 RoW Smart Wallets Market Revenue, By Sales Channel, 2019 – 2028 (US$ Mn)
TABLE 12 Ekster Wallets BV: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Applications Served, Recent Developments)
TABLE 13 Wocket (NXT-ID, Inc.): Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Applications Served, Recent Developments)
TABLE 14 Cashew (Revol, Inc.): Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Applications Served, Recent Developments)
TABLE 15 Walli Wearables: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Applications Served, Recent Developments)
TABLE 16 Woolet.co: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Applications Served, Recent Developments)
TABLE 17 Volterman: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Applications Served, Recent Developments)
TABLE 18 Voyager Smart (Cuir Ally): Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Applications Served, Recent Developments)

Frequently Asked Questions:

What is the size of Smart Wallets Market?

The market for Smart Wallets is expected to reach US$ XX Mn in 2028.

What is the Smart Wallets Market CAGR?

The Smart Wallets market is expected to see significant CAGR growth over the coming years, at 6.8%.

What is the Forecast period considered for Smart Wallets Market?

The report is forecasted from 2021-2028.

What is the base year considered for Smart Wallets Market?

The base year of this report is 2020.

Who are the major players in this Market?

Ekster Wallets BV, Wocket (NXT-ID, Inc.),Cashew (Revol, Inc.), Walli Wearables,Woolet.co are some of the major players in the global market

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