Mobile Wallet Market - Global Industry Analysis, Size, Share, Growth and Forecast, 2012 - 2018

Transparency Market Research

Mobile Wallet Market Global Industry Analysis, Size, Share, Growth and Forecast, 2012 - 2018

Published Date June-2014 Single User License:

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119 Page Report

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Press Release

Mobile Wallet Market is Expected to Reach USD 1,602.4 Billion in 2018: Transparency Market Research

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Mobile Wallet Market

REPORT DESCRIPTION

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(http://www.transparencymarketresearch.com) "Mobile Wallet Market - Global Industry Analysis, Size, Share, Growth and Forecast, 2012 - 2018," the global mobile wallet market is expected to reach USD 1,602.4 billion by 2018, growing at a CAGR of 30.7% from 2012 to 2018. EMEA (Europe, the Middle East and Africa) is expected to be the largest market for the mobile wallet industry in 2018. The surge in the demand for mobile wallets can be attributed mainly to the global increase in Smartphone penetration. The advent of affordable options such as budget smartphones and the facilitation of NFC (Near Field Communication) technology both in the user's device as well as in Point of Sale (POS) terminals are expected to drive this market over the next few years. However, lack of awareness regarding the functioning of mobile wallets as well as considerable concerns among users about security and privacy are a few factors that may hinder market growth. Stakeholders in the mobile wallet ecosystem are attempting to alleviate these concerns and aiming to provide complete safety of personal and financial information. Retail formed the largest application of mobile wallets and was valued at USD 144.8 billion in 2011. This trend is expected to...