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Mobile Wallet Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global mobile wallet market reached a value of US$ 120 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 336.2 Billion by 2027, exhibiting a CAGR of 18.6% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

A mobile wallet refers to a virtual wallet that stores credit card, debit card, loyalty card, coupons and reward card information on a mobile device. It is a convenient way for users to make in-store payments and pay merchants listed with the mobile wallet service providers. Google Pay, Apple Pay, and Amazon Pay are commonly used mobile wallets across the world. Mobile wallets are accessible through applications that are built-in or installed on smartphones and tablets. They store the payment information of the user by linking a personal identification format, including a key, QR code, or an image of the user. In recent years, mobile wallets have gained traction as they are a convenient mode of payment that can be used at any location and time.

 

 
 

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Mobile Wallet Market Trends:

The global mobile wallet market is primarily driven by the rising smartphone adoption and the increasing penetration of the internet. Besides this, the expanding e-commerce platforms are providing transaction facilities through mobile wallets, thereby propelling the market growth. They are also offering a new dimension to retail sales to improve their business presence by connecting merchants and financial institutions to communicate promotional schemes and other relevant interests. Besides this, key players are collaborating with banks, vendors, and payment service providers to develop the payment infrastructure for enhancing the user experience. For instance, market players are offering features like mobile vouchers, digital loyalty schemes, digital charity boxes, and dynamic currency conversion to promote cashless payments via mobile wallets.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global mobile wallet market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type and application.

Breakup by Type:

 

 
 

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  • Proximity
  • Remote
     

Breakup by Application:

  • Retail
  • Hospitality and Transportation
  • Telecommunication
  • Healthcare
  • Others
     

Breakup by Region:

 

 
 

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  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Alipay.com (Alibaba Group Holding Limited), Amazon Web Services Inc. (Amazon.com Inc), American Express Company, Apple Inc., Google LLC (Alphabet Inc.), Mastercard Incorporated, Paypal Holdings Inc., Samsung Electronics Co. Ltd., Squareup Pte. Ltd. and Visa Inc.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Type, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Alipay.com (Alibaba Group Holding Limited), Amazon Web Services Inc. (Amazon.com Inc), American Express Company, Apple Inc., Google LLC (Alphabet Inc.), Mastercard Incorporated, Paypal Holdings Inc., Samsung Electronics Co. Ltd., Squareup Pte. Ltd. and Visa Inc.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

1   Preface
2   Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3   Executive Summary
4   Introduction
    4.1    Overview
    4.2    Key Industry Trends
5   Global Mobile Wallet Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6   Market Breakup by Type
    6.1    Proximity
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Remote
        6.2.1 Market Trends
        6.2.2 Market Forecast
7   Market Breakup by Application
    7.1    Retail
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Hospitality and Transportation
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    Telecommunication
        7.3.1 Market Trends
        7.3.2 Market Forecast
    7.4    Healthcare
        7.4.1 Market Trends
        7.4.2 Market Forecast
    7.5    Others
        7.5.1 Market Trends
        7.5.2 Market Forecast
8   Market Breakup by Region
    8.1    North America
        8.1.1 United States
           8.1.1.1 Market Trends
           8.1.1.2 Market Forecast
        8.1.2 Canada
           8.1.2.1 Market Trends
           8.1.2.2 Market Forecast
    8.2    Asia-Pacific
        8.2.1 China
           8.2.1.1 Market Trends
           8.2.1.2 Market Forecast
        8.2.2 Japan
           8.2.2.1 Market Trends
           8.2.2.2 Market Forecast
        8.2.3 India
           8.2.3.1 Market Trends
           8.2.3.2 Market Forecast
        8.2.4 South Korea
           8.2.4.1 Market Trends
           8.2.4.2 Market Forecast
        8.2.5 Australia
           8.2.5.1 Market Trends
           8.2.5.2 Market Forecast
        8.2.6 Indonesia
           8.2.6.1 Market Trends
           8.2.6.2 Market Forecast
        8.2.7 Others
           8.2.7.1 Market Trends
           8.2.7.2 Market Forecast
    8.3    Europe
        8.3.1 Germany
           8.3.1.1 Market Trends
           8.3.1.2 Market Forecast
        8.3.2 France
           8.3.2.1 Market Trends
           8.3.2.2 Market Forecast
        8.3.3 United Kingdom
           8.3.3.1 Market Trends
           8.3.3.2 Market Forecast
        8.3.4 Italy
           8.3.4.1 Market Trends
           8.3.4.2 Market Forecast
        8.3.5 Spain
           8.3.5.1 Market Trends
           8.3.5.2 Market Forecast
        8.3.6 Russia
           8.3.6.1 Market Trends
           8.3.6.2 Market Forecast
        8.3.7 Others
           8.3.7.1 Market Trends
           8.3.7.2 Market Forecast
    8.4    Latin America
        8.4.1 Brazil
           8.4.1.1 Market Trends
           8.4.1.2 Market Forecast
        8.4.2 Mexico
           8.4.2.1 Market Trends
           8.4.2.2 Market Forecast
        8.4.3 Others
           8.4.3.1 Market Trends
           8.4.3.2 Market Forecast
    8.5    Middle East and Africa
        8.5.1 Market Trends
        8.5.2 Market Breakup by Country
        8.5.3 Market Forecast
9   SWOT Analysis
    9.1    Overview
    9.2    Strengths
    9.3    Weaknesses
    9.4    Opportunities
    9.5    Threats
10  Value Chain Analysis
11  Porters Five Forces Analysis

    11.1    Overview
    11.2    Bargaining Power of Buyers
    11.3    Bargaining Power of Suppliers
    11.4    Degree of Competition
    11.5    Threat of New Entrants
    11.6    Threat of Substitutes
12  Price Analysis
13  Competitive Landscape

    13.1    Market Structure
    13.2    Key Players
    13.3    Profiles of Key Players
        13.3.1    Alipay.com (Alibaba Group Holding Limited)
           13.3.1.1 Company Overview
           13.3.1.2 Product Portfolio
        13.3.2    Amazon Web Services Inc. (Amazon.com Inc)
           13.3.2.1 Company Overview
           13.3.2.2 Product Portfolio
           13.3.2.3 SWOT Analysis
        13.3.3    American Express Company
           13.3.3.1 Company Overview
           13.3.3.2 Product Portfolio
           13.3.3.3 Financials
           13.3.3.4 SWOT Analysis
        13.3.4    Apple Inc.
           13.3.4.1 Company Overview
           13.3.4.2 Product Portfolio
           13.3.4.3 Financials
           13.3.4.4 SWOT Analysis
        13.3.5    Google LLC (Alphabet Inc.)
           13.3.5.1 Company Overview
           13.3.5.2 Product Portfolio
           13.3.5.3 SWOT Analysis
        13.3.6    Mastercard Incorporated
           13.3.6.1 Company Overview
           13.3.6.2 Product Portfolio
           13.3.6.3 Financials
           13.3.6.4 SWOT Analysis
        13.3.7    Paypal Holdings Inc.
           13.3.7.1 Company Overview
           13.3.7.2 Product Portfolio
           13.3.7.3 Financials
           13.3.7.4 SWOT Analysis
        13.3.8    Samsung Electronics Co. Ltd.
           13.3.8.1 Company Overview
           13.3.8.2 Product Portfolio
           13.3.8.3 Financials
           13.3.8.4 SWOT Analysis
        13.3.9    Squareup Pte. Ltd.
           13.3.9.1 Company Overview
           13.3.9.2 Product Portfolio
           13.3.9.3 Financials
        13.3.10    Visa Inc.
           13.3.10.1 Company Overview
           13.3.10.2 Product Portfolio
           13.3.10.3 Financials
           13.3.10.4 SWOT Analysis

List of Figures

Figure 1: Global: Mobile Wallet Market: Major Drivers and Challenges
Figure 2: Global: Mobile Wallet Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Mobile Wallet Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Global: Mobile Wallet Market: Breakup by Type (in %), 2021
Figure 5: Global: Mobile Wallet Market: Breakup by Application (in %), 2021
Figure 6: Global: Mobile Wallet Market: Breakup by Region (in %), 2021
Figure 7: Global: Mobile Wallet (Proximity) Market: Sales Value (in Million US$), 2016 & 2021
Figure 8: Global: Mobile Wallet (Proximity) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 9: Global: Mobile Wallet (Remote) Market: Sales Value (in Million US$), 2016 & 2021
Figure 10: Global: Mobile Wallet (Remote) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 11: Global: Mobile Wallet (Retail) Market: Sales Value (in Million US$), 2016 & 2021
Figure 12: Global: Mobile Wallet (Retail) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 13: Global: Mobile Wallet (Hospitality and Transportation) Market: Sales Value (in Million US$), 2016 & 2021
Figure 14: Global: Mobile Wallet (Hospitality and Transportation) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 15: Global: Mobile Wallet (Telecommunication) Market: Sales Value (in Million US$), 2016 & 2021
Figure 16: Global: Mobile Wallet (Telecommunication) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 17: Global: Mobile Wallet (Healthcare) Market: Sales Value (in Million US$), 2016 & 2021
Figure 18: Global: Mobile Wallet (Healthcare) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 19: Global: Mobile Wallet (Others) Market: Sales Value (in Million US$), 2016 & 2021
Figure 20: Global: Mobile Wallet (Others) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 21: North America: Mobile Wallet Market: Sales Value (in Million US$), 2016 & 2021
Figure 22: North America: Mobile Wallet Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 23: United States: Mobile Wallet Market: Sales Value (in Million US$), 2016 & 2021
Figure 24: United States: Mobile Wallet Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 25: Canada: Mobile Wallet Market: Sales Value (in Million US$), 2016 & 2021
Figure 26: Canada: Mobile Wallet Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 27: Asia-Pacific: Mobile Wallet Market: Sales Value (in Million US$), 2016 & 2021
Figure 28: Asia-Pacific: Mobile Wallet Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 29: China: Mobile Wallet Market: Sales Value (in Million US$), 2016 & 2021
Figure 30: China: Mobile Wallet Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 31: Japan: Mobile Wallet Market: Sales Value (in Million US$), 2016 & 2021
Figure 32: Japan: Mobile Wallet Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 33: India: Mobile Wallet Market: Sales Value (in Million US$), 2016 & 2021
Figure 34: India: Mobile Wallet Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 35: South Korea: Mobile Wallet Market: Sales Value (in Million US$), 2016 & 2021
Figure 36: South Korea: Mobile Wallet Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 37: Australia: Mobile Wallet Market: Sales Value (in Million US$), 2016 & 2021
Figure 38: Australia: Mobile Wallet Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 39: Indonesia: Mobile Wallet Market: Sales Value (in Million US$), 2016 & 2021
Figure 40: Indonesia: Mobile Wallet Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 41: Others: Mobile Wallet Market: Sales Value (in Million US$), 2016 & 2021
Figure 42: Others: Mobile Wallet Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 43: Europe: Mobile Wallet Market: Sales Value (in Million US$), 2016 & 2021
Figure 44: Europe: Mobile Wallet Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 45: Germany: Mobile Wallet Market: Sales Value (in Million US$), 2016 & 2021
Figure 46: Germany: Mobile Wallet Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 47: France: Mobile Wallet Market: Sales Value (in Million US$), 2016 & 2021
Figure 48: France: Mobile Wallet Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 49: United Kingdom: Mobile Wallet Market: Sales Value (in Million US$), 2016 & 2021
Figure 50: United Kingdom: Mobile Wallet Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 51: Italy: Mobile Wallet Market: Sales Value (in Million US$), 2016 & 2021
Figure 52: Italy: Mobile Wallet Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 53: Spain: Mobile Wallet Market: Sales Value (in Million US$), 2016 & 2021
Figure 54: Spain: Mobile Wallet Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 55: Russia: Mobile Wallet Market: Sales Value (in Million US$), 2016 & 2021
Figure 56: Russia: Mobile Wallet Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 57: Others: Mobile Wallet Market: Sales Value (in Million US$), 2016 & 2021
Figure 58: Others: Mobile Wallet Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 59: Latin America: Mobile Wallet Market: Sales Value (in Million US$), 2016 & 2021
Figure 60: Latin America: Mobile Wallet Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 61: Brazil: Mobile Wallet Market: Sales Value (in Million US$), 2016 & 2021
Figure 62: Brazil: Mobile Wallet Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 63: Mexico: Mobile Wallet Market: Sales Value (in Million US$), 2016 & 2021
Figure 64: Mexico: Mobile Wallet Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 65: Others: Mobile Wallet Market: Sales Value (in Million US$), 2016 & 2021
Figure 66: Others: Mobile Wallet Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 67: Middle East and Africa: Mobile Wallet Market: Sales Value (in Million US$), 2016 & 2021
Figure 68: Middle East and Africa: Mobile Wallet Market: Breakup by Country (in %), 2021
Figure 69: Middle East and Africa: Mobile Wallet Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 70: Global: Mobile Wallet Industry: SWOT Analysis
Figure 71: Global: Mobile Wallet Industry: Value Chain Analysis
Figure 72: Global: Mobile Wallet Industry: Porter's Five Forces Analysis

List of Tables

Table 1: Global: Mobile Wallet Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Mobile Wallet Market Forecast: Breakup by Type (in Million US$), 2022-2027
Table 3: Global: Mobile Wallet Market Forecast: Breakup by Application (in Million US$), 2022-2027
Table 4: Global: Mobile Wallet Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 5: Global: Mobile Wallet Market: Competitive Structure
Table 6: Global: Mobile Wallet Market: Key Players

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Key Questions Answered in This Report

The global mobile wallet market was valued at US$ 120 Billion in 2021.

We expect the global mobile wallet market to exhibit a CAGR of 18.6% during 2022-2027.

The expanding e-commerce platforms, growing availability of high-speed internet connectivity, and
rising adoption of smartphones, are currently driving the global mobile wallet market.

The sudden outbreak of the COVID-19 pandemic has led to the growing adoption of mobile wallets
and digital payment methods, as a convenient alternative to manual transactions.

Based on the type, the global mobile wallet market has been segmented into proximity and remote.
Currently, remote type represents the largest market share.

Based on the application, the global mobile wallet market can be bifurcated into retail, hospitality
and transportation, telecommunication, healthcare, and others. Among these, the retail sector
accounts for the majority of the total market share.

On a regional level, the market has been classified into North America, Europe, Asia-Pacific, Middle
East and Africa, and Latin America, where Asia-Pacific currently dominates the global market.

Some of the major players in the global mobile wallet market include Alipay.com (Alibaba Group
Holding Limited), Amazon Web Services Inc. (Amazon.com Inc), American Express Company, Apple
Inc., Google LLC (Alphabet Inc.), Mastercard Incorporated, Paypal Holdings Inc., Samsung Electronics
Co. Ltd., Squareup Pte. Ltd., and Visa Inc.

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