Product Overview

Digital wallet is the mobile commerce engine and also provides an evolutionary path to reduce transaction friction and maximize customer loyalty. Users are tempted by enticing cash backs and loyalty coupons issued by various mobile wallet businesses. In the study, the mobile wallet market refers to payment services conducted under financial regulation and carried out using a mobile device, rather than paying by cheque, cash, or credit card. The digital wallet is the mobile commerce engine and also provides an evolutionary path to reduce transaction friction and maximize customer loyalty. Users are tempted by enticing cash backs and loyalty coupons issued by various mobile wallet businesses. In the study, the mobile wallet market refers to payment services conducted under financial regulation and carried out by means of a mobile device, rather than paying by cheque, cash, or credit card. Based on the use, the mobile wallet market can be segmented in terms of volume, such as retailer transactions, money transfers, bill payments, and others.

Market Highlights

Mobile Wallet Market is expected to project a notable CAGR in 2030.

Mobile Wallet Market to surpass USD XXXX million by 2030 from USD XXXX million in 2019 at a CAGR of XX% throughout the forecast period. The digital wallet is the mobile commerce engine and also provides an evolutionary path to reduce transaction friction and maximize customer loyalty. The extent of usability of mobile wallets is demonstrated by the wide adoption of smartphones. Besides, widespread smartphone adoption and introduction by merchants of multi-channel strategies due to increased competition from internet vendors are also expected to improve the prospects for the mobile wallet industry in the coming years.

Mobile Wallet Market: Segments

Proximity product type Segment to grow with the highest CAGR during 2021-30

Mobile Wallet Market is segmented by product type into Proximity and Remote. The greater market share in 2019 was accounted for by Remote mobile wallet and is expected to maintain the dominance throughout the forecast period owing to the ability to use communication networks to access cashless payments. The proximity product category is expected to have the highest growth rate over the forecast period, with the increasing penetration of NFC-powered smartphones across all regions. It is expected that the product's flexibility in converting devices to NFC-enabled devices will lead to growth.

NFC segment to grow with the highest CAGR during 2021-30

Mobile Wallet Market is segmented by mode of payment into SMS, NFC, WAP, and others. NFC mode of payment is expected to hold the major market share of XX% in 2019 and also likely to be the fastest-growing category in the Mobile Wallet market in the coming years. With safe payment methods, NFC integrated devices deliver improved customer service and enable distributors to implement the technology. Increased use of vending machines is expected to increase demand for the application segments in emerging countries such as India, Indonesia, and China. Besides, to achieve cost and operational performance, low processing fees, and faster check-out through the NFC technology are also required. The technology allows distributors to deliver exclusive deals and monitor loyalty rewards to boost mobile customer relationships.

Retailer segment to grow with the highest CAGR during 2020-30

Mobile Wallet Market is segmented by application into the restaurant, retail, vending machine, and public transportation. The retail application is estimated to dominate the business in terms of revenue in 2019 owing to the proliferation of smartphones and the increasing need for a better consumer experience is expected to propel the demand. The potential advantages of accepting purchases using mobile wallets are increasingly being acquired by retailers. To achieve customer data opportunities and loyalty, retailers that combine cashless payment technology with digital marketing are imagined. A vending machine's ability to make cashless payments offers an incentive for customers to pay contactless and thus allows the customer to buy regularly.

Mobile Wallet Market: Market Dynamics

Drivers

Increasing penetration of NFC enabled mobile phones

One of the factors for growth over the forecast period is also expected to be the shifts from analog to digital systems. Growing demands from countries such as China and India are also expected to see substantial growth over the forecast period due to changing customer needs and disposable income. Besides, government-driven initiatives such as Make in India and Digital India are expected to increase the penetration of smartphones and other consumer electronics in the country, contributing to rising demand for the industry.

Greater Convenience and Accessibility

The ability of mobile wallets to provide payment solutions for online bills and other money transfer facilities quickly and safely drives the market growth. The user-friendly interface also makes it easy to transact during travel, which is an important factor expected to fuel market growth. Also, through the mobile wallet module, financial institutions and banks have the ability to interact with customers in rural areas, which has helped the market expand and meet its end-users at a lower cost. Different mobile wallet modules are being developed to improve the security and ease of use of such services, which is expected to further drive the growth of the mobile wallet market in the coming years.

Restraint

Lack of privacy and security

The lack of a threat to privacy and security over mobile payments could affect the demand for the segment. Over the forecast era, the absence of government regulations regulating cashless payments was also anticipated to impede industry demand. The defense, privacy, and transparency of charges are the factors that hinder the growth of the market for mobile wallets. Compatibility problems, as the apps do not support all OS, credit, and debit card competition and the launch of UPI are some of the factors that impede the growth of the Mobile Wallet market.

Mobile Wallet Market: Key Players

Amazon Web Services Inc.

Company Overview

Business Strategy

Key Product Offerings

Financial Performance

Key Performance Indicators

Risk Analysis

Recent Development

Regional Presence

SWOT Analysis

American Express Banking Corp.

Apple Inc.

Alipay.com

AT&T Inc.

Google Inc.

Mastercard Incorporated

PayPal Holdings, Inc.

Samsung Electronics Co., Ltd

VISA Inc.

Mobile Wallet Market: Regional Dynamics

Mobile Wallet Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and Middle East, and Africa.

Mobile Wallet Market in Asia Pacific held the largest market share of XX.X% in the year 2019 owing to the favorable consumer preferences along with the presence of a large number of service providers in the region are few factors accounting for the significant growth. One of the reasons for growth over the forecast period is also expected to be the shifts from analogue to digital systems. Growing demands from countries such as China and India are also expected to see substantial growth over the forecast period due to changing customer needs and disposable income. Besides, government-driven initiatives such as Make in India and Digital India are expected to increase the penetration of smartphones and other consumer electronics in the country, resulting in increasing industry demand.

Competitive Landscape:

The Mobile Wallet market, which is highly competitive, consists of several major players. Companies, such as Apple Inc (U.S), American Express Company (U.S), Alipay (China), Bharti Airtel Limited Incorporated hold a substantial market share in the Mobile Wallet market. Other players analysed in this report are AMERICAN EXPRESS COMPANY, PayPal Holdings Inc., Google Inc., Visa Inc., Square Inc. LevelUp Inc., Apple Inc., MasterCard Incorporated, BlackBerry Limited, and Samsung Electronics Co. Ltd.

Mobile Wallet Market is further segmented by region into:

North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada

Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America

Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe

APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC

MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA

Mobile Wallet Market report also contains analysis on:

Mobile Wallet Market Segments:

By Product:

Proximity

Remote

Mode of Payment:

SMS

NFC

WAP

Others

By Application:

Retail

Vending Machine

Public Transportation

Restaurants

Others

Mobile Wallet Market Dynamics

Mobile Wallet Market Size

Supply & Demand

Current Trends/Issues/Challenges

Competition & Companies Involved in the Market

Value Chain of the Market

Market Drivers and Restraints

Contents

1. Executive Summary

2. Mobile Wallet Market

1. Product Overview

2. Market Definition

3. Segmentation

4. Assumptions and Acronyms

3. Research Methodology

1. Research Objectives

2. Primary Research

3. Secondary Research

4. Forecast Model

5. Market Size Estimation

4. Average Pricing Analysis

5. Macro-Economic Indicators

6. Market Dynamics

1. Growth Drivers

2. Restraints

3. Opportunity

4. Trends

7. Correlation & Regression Analysis

1. Correlation Matrix

2. Regression Matrix

8. Recent Development, Policies & Regulatory Landscape

9. Risk Analysis

1. Demand Risk Analysis

2. Supply Risk Analysis

10. Mobile Wallet Market Analysis

1. Porters Five Forces

1. Threat of New Entrants

2. Bargaining Power of Suppliers

3. Threat of Substitutes

4. Rivalry

2. PEST Analysis

1. Political

2. Economic

3. Social

4. Technological

11. Mobile Wallet Market

1. Market Size & forecast, 2020A-2030F

1. By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

2. By Volume (Million Units) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

12. Mobile Wallet Market: Market Segmentation

1. By Regions

1. North America:(U.S. and Canada), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

2. Latin America: (Brazil, Mexico, Argentina, Rest of Latin America), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

3. Europe: (Germany, UK, France, Italy, Spain, BENELUX, NORDIC, Hungary, Poland, Turkey, Russia, Rest of Europe), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

4. Asia-Pacific: (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia Pacific), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

5. Middle East and Africa: (Israel, GCC, North Africa, South Africa, Rest of Middle East and Africa), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

2. By Product: Market Share (2020-2030F)

1. Proximity, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

2. Remote, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

3. By Mode of Payment: Market Share (2020-2030F)

1. SMS, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

2. NFC, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

3. WAP, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

4. Others, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

4. By Application: Market Share (2020-2030F)

1. Retail, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

2. Vending Machine, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

3. Public Transportation, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

4. Restaurants, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

Company Profile

1. Amazon Web Services Inc.

1. Company Overview

2. Company Total Revenue (Financials)

3. Market Potential

4. Global Presence

5. Key Performance Indicators

6. SWOT Analysis

7. Product Launch

2. American Express Banking Corp.

3. Apple Inc.

4. Alipay.com

5. AT&T Inc.

6. Google Inc.

7. Mastercard Incorporated

8. PayPal Holdings, Inc.

9. Samsung Electronics Co., Ltd

10. VISA Inc.

11. Other Prominent Players

Consultant Recommendation

**The above-given segmentations and companies could be subjected to further modification based on in-depth feasibility studies conducted for the final deliverable.

Methodology/Research Approach

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Research Programs/Design

Historical Data (2015-2019)	Industry Trends Competitive Landscape By Company Expansion Mergers and Acquisitions Market Segment by Type by Application By Regions/ Geography	Value Status and Outlook Value for Major Players Market Share Growth Rate Present Situation Analysis Value Market Share Growth Rate Present Situation Analysis
Influencing Factors	Market Environment Government Policy Technological Changes Market Risks	Market Drivers Growing Demand of Downstream Reduction in Cost
Market Forecast (2021-2026)	Overall Size by Type by Application By Regions/Geography	Key Data (Value) Market Share Growth Rate CAGR (2021-2026)

Market Size Estimation

Top-down and bottom-up approaches are used to validate the global Voluntary Carbon Offset market size market and estimate the market size for Company, regions segments, product segments and Application (end users).

The market estimations in this report are based on the marketed sale price of Voluntary Carbon Offset (excluding any discounts provided by the player, distributor, wholesaler or traders). The percentage splits, market share, and breakdowns of the product segments are derived on the basis of weights assigned to each of the segments on the basis of their utilization rate and average sale price. The regional splits of the overall Voluntary Carbon Offset market and its sub-segments are based on the percentage adoption or utilization of the given product in the respective region or country.

Major Company in the market is identified through secondary research and their market revenues determined through primary and secondary research. Secondary research included the research of the annual and financial reports of the top Company; whereas, primary research included extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, directors, CEOs and marketing executives. The percentage splits, market share, Growth Rate and breakdowns of the product markets are determined through using secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or other factors are not accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Market Intellix and presented in this report

The following figure shows an illustrative representation of the overall market size estimation process used for this study.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation, extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report. Extensive qualitative and further quantitative analysis is also done from all the numbers arrived at in the complete market engineering process to list key information throughout the report.

Data Source

Secondary Sources

Secondary sources include such as press releases, annual reports, non-profit organizations, industry associations, governmental agencies and customs data, etc. This research study involves the usage of widespread secondary sources, directories, databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), and TRADING ECONOMICS, and News Network, statista, Federal Reserve Economic Data, annual reports, BIS Statistics, ICIS; company house documents; CAS(American Chemical Society); investor presentations; and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and Hospitals study of the Voluntary Carbon Offset market. It was also used to obtain important information about the top companies, market classification and segmentation according to industry trends to the bottom-most level, and key developments related to market and technology perspectives.

Market Size	Segmental value Geographic Penetration Product Adoption Rate for Different market	Journals, Websites, and Press Releases Annual Reports and SEC Filings Company Websites and Press Releases Public and Paid Databases Market Intellix Data Repository
Market Position of Top Company	Product Financials Geographic value Mix Total Company value Business/Segmental value Mix
Qualitative Analysis	Influence Factors Market Potential Market Risks and Opportunities Industry Trends Geographical Features Government Policies	Company Websites and Press Releases Public and Paid Databases Annual Reports Industry Associations Market Intellix Data Repository

Primary Sources

In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product Company (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end use (product buyers), and related key executives from various key companies and organizations operating in the global market.

Primary research was conducted to identify segmentation Type, product price range, product Application, key Company, raw materials supply and the downstream demand, industry status and outlook, and key market dynamics such as risks, influence factors, opportunities, market barriers, industry trends, and key player strategies.

Key Executives Interviewed

Key Data Information from Primary Sources

Primary Sources	Parameters	Key Data
Market Segments(by Application, by Type)	Value by Type Status and Forecast Value by Application Value by Regions, Status and Forecast (2021-2026)	Value Market Share by Type Value Growth Rate by Type Value by Application Percentage and Growth Rate by Application Value Growth Rate and Market Share by Regions Market Size Status and Forecast (2021-2026)
Total Market	Overall Size, Status and Forecast	Market Size Status and Forecast (2021-2026)