Study: Mobile Wallet Market Grows 128 Percent Over Next Seven Years

Allied Market Research introduced a new study entitled "Mobile Wallet Market - Global Share, Size, Industry Analysis, Trends, Opportunities, Growth and Forecast, 2012 - 2020", that showed the global mobile wallet market is expected to reach $5,250 billion in 2020, growing at a compound annual growth rate (CAGR) of 127.5 percent from 2013 to 2020. Growing awareness regarding mobile wallets and their applications, rising Smartphone penetration and increasing security are expected to drive the mobile wallet market. Mobile commerce is expected to be the leading segment till 2020, followed by mobile ticketing and mobile money transfer.

The report segments the global mobile wallet market on the basis of applications, mode of payment and stakeholders. The mobile wallet market by applications includes mobile commerce, mobile ticketing, mobile coupons, money transfers, micro payments and others. In context to mode of payment, the mobile wallet market is divided into NFC and remote payment. The stakeholders for the mobile wallet market encompass mobile network operators, handset manufacturers, mobile payment service providers, OSS/BSS solution providers, software developers, content and applications aggregators, and others which includes TSM, value service providers, retailers/merchants and mobile payment networks and banks. The OSS/BSS solution providers is expected to witness highest growth rate mainly due to the consistent development of mobile wallet in terms of technology namely NFC technology. The study also offers an updated review on the present major market players, which also includes description of relevant recent developments activities. Global positioning of the most active market players is also included in the study. Companies profiled in this report includes American Express, Apple Inc., MasterCard, Visa, AT&T, Sprint, First Data, BlackBerry, Samsung and Google. Full study.

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