Mobile Wallet Market - Growth, Share, Opportunities, Competitive Analysis, and Forecast 2016 – 2023

Global Mobile Wallet Market to Expand at a CAGR of 38.2% between 2016 and 2023

According to a new market report published by Credence Research Inc., “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”, the global mobile wallet market is expected to witness a double digit CAGR during the forecast period 2016 to 2023.

Browse the full 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)) Market - Growth, Share, Opportunities, Competitive Analysis, and Forecast 2016 – 2023 report at http://www.credenceresearch.com/report/mobile-wallet-market

Market Insights

The mobile wallet technology is touted to be the next generation technology in the era of cashless transactions, replacing traditional plastic cards. Mobile wallets are capable of storing the information and details of credit/debit card, enabling customers to pay at NFC-based POS terminals using their mobile phones. The advancements in technology and continuous efforts by the global payments industry to improve security have ensured growing popularity of mobile wallets. In addition, ease of use and less time required for making payments has ensured increased penetration of the technology. In a bid to achieve greater transparency in the financial eco system, the governments across the globe are promoting cashless transactions, which, in turn is having positive impact on the overall market demand.

Competitive Insights:

The important participants across the entire mobile wallet ecosystem include technology developers, Mobile Network Operators (MNO), equipment...