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Mobile Wallet Market Size, Share & Trends Analysis Report by Technology (Remote, Proximity), Application (Retail & E-commerce, Banking, Hospitality & Transportation), Region, and Segment Forecasts, 2023-2030

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    Report

  • 98 Pages
  • December 2023
  • Region: Global
  • Grand View Research
  • ID: 3972881
Description Jump to:
The global mobile wallet market size is expected to reach USD 51.53 billion by 2030, registering a CAGR of 28.3% from 2023 to 2030. A mobile wallet is a technology that can carry cash in digital format. Increasing mobile phone users and the rising number of internet subscribers across the world are the major factors fueling the market growth. In addition, government initiatives to modernize the transportation sector are improving market growth.

Furthermore, due to ongoing concerns about sanitation and a desire to reduce contact between guests and staff members, mobile wallets are anticipated to create a notable impact on the hospitality or restaurant industry. Furthermore, COVID-19 has increased the penetration of online payments. The pandemic has increased the requirement for germ-free and contactless payments, and mobile wallets prevent direct contact with any external system such as the POS of the retailer.

Asia-Pacific held the largest revenue share of over 30.0% in 2021 and is expected to retain its position over the forecast period. In rapidly developing regions such as Asia-Pacific, digital online spending has changed and evolved on its own, with e-commerce expanding and online sales becoming as common as physical retail in many areas of the region. In April 2022, Boku, a global provider of mobile payment solutions, announced that it's Mobile First (M1ST) platform has unveiled PayPay mobile wallet payments for Netflix in Japan. With this release, PayPay's over 45 million consumers can now pay for streaming subscriptions within Netflix.

Mobile Wallet Market Report Highlights

  • In terms of technology, The proximity segment accounted for the largest revenue share of 62.6% in 2022 and is expected to retain its dominance over the forecast period. Growing penetration of NFC and QR code-enabled smartphones across the world is boosting the segment growth
  • The remote technology segment is expected to grow at the fastest CAGR of 28.6% during the forecast period. The growth of this segment can be attributed to the increasing number of smartphone and internet users across the globe. In addition, surging demand for fast and secure payment solutions is improving the market growth
  • The retail and e-commerce segment accounted for the largest revenue share of 32.0% in 2022 and is expected to maintain its position over the forecast period. Rapid growth in the global retail and e-commerce sector is creating more demand for mobile wallets
  • The banking segment is expected to grow at the fastest CAGR of 29.6% during the forecast period as numerous banks across the world are trying to set up mobile payments
  • The hospitality and transportation segment is expected to witness significant growth over the forecast period. Due to ongoing concerns about sanitation and a desire to reduce contact between guests and staff members, mobile wallets are anticipated to create a notable impact on the hospitality or restaurant industry

Table of Contents

Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.1.1. Technology
1.1.2. Application
1.1.3. Regional scope
1.1.4. Estimates and forecast timeline
1.2. Research Methodology
1.3. Information Procurement
1.3.1. Purchased database
1.3.2. Internal database
1.3.3. Secondary sources
1.3.4. Primary research
1.3.5. Details of primary research
1.4. Information or Data Analysis
1.5. Market Formulation & Validation
1.6. Model Details
1.7. List of Secondary Sources
1.8. List of Primary Sources
1.9. Objectives
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.2.1. Technology outlook
2.2.2. Application outlook
2.2.3. Regional outlook
2.3. Competitive Insights
Chapter 3. Mobile Wallet Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.2. Industry Value Chain Analysis
3.3. Market Dynamics
3.3.1. Market driver analysis
3.3.2. Market restraint analysis
3.3.3. Market opportunity analysis
3.4. Mobile Wallet Market Analysis Tools
3.4.1. Industry analysis - Porter’s
3.4.1.1. Supplier power
3.4.1.2. Buyer power
3.4.1.3. Substitution threat
3.4.1.4. Threat of new entrant
3.4.1.5. Competitive rivalry
3.4.2. PESTEL analysis
3.4.2.1. Political landscape
3.4.2.2. Economic landscape
3.4.2.3. Social landscape
3.4.2.4. Technological landscape
Chapter 4. Mobile Wallet Market: Technology Estimates & Trend Analysis
4.1. Mobile Wallet Market: Key Takeaways
4.2. Mobile Wallet Market: Movement & Market Share Analysis, 2022 & 2030
4.3. Remote
4.3.1. Remote market estimates and forecasts, 2017 to 2030 (USD Million)
4.4. Proximity
4.4.1. Proximity market estimates and forecasts, 2017 to 2030 (USD Million)
Chapter 5. Mobile Wallet Market: Application Estimates & Trend Analysis
5.1. Mobile Wallet Market: Key Takeaways
5.2. Mobile Wallet Market: Movement & Market Share Analysis, 2022 & 2030
5.3. Retail & e-commerce
5.3.1. Retail & e-commerce market estimates and forecasts, 2017 to 2030 (USD Million)
5.4. Hospitality & transportation
5.4.1. Hospitality & transportation market estimates and forecasts, 2017 to 2030 (USD Million)
5.5. Banking
5.5.1. Banking market estimates and forecasts, 2017 to 2030 (USD Million)
5.6. Vending machine
5.6.1. Vending machine market estimates and forecasts, 2017 to 2030 (USD Million)
5.7. Others
5.7.1. Others market estimates and forecasts, 2017 to 2030 (USD Million)
Chapter 6. Mobile Wallet Market: Regional Estimates & Trend Analysis
6.1. Regional Outlook
6.2. Mobile Wallet Market by Region: Key Takeaway
6.3. North America
6.3.1. North America market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
6.3.2. U.S.
6.3.2.1. U.S. market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
6.3.3. Canada
6.3.3.1. Canada market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
6.4. Europe
6.4.1. Europe market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
6.4.2. UK
6.4.2.1. UK market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
6.4.3. Germany
6.4.3.1. Germany market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
6.4.4. France
6.4.4.1. France market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
6.5. Asia-Pacific
6.5.1. Asia-Pacific Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
6.5.2. Japan
6.5.2.1. Japan market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
6.5.3. China
6.5.3.1. China market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
6.5.4. India
6.5.4.1. India market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
6.5.5. Australia
6.5.5.1. Australia market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
6.5.6. South Korea
6.5.6.1. South Korea market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
6.6. Latin America
6.6.1. Latin America market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
6.6.2. Brazil
6.6.2.1. Brazil market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
6.6.3. Mexico
6.6.3.1. Mexico market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
6.7. MEA
6.7.1. MEA market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
6.7.2. Saudi Arabia
6.7.2.1. Saudi Arabia market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
6.7.3. South Africa
6.7.3.1. Saudi Africa market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
6.7.4. UAE
6.7.4.1. UAE market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
Chapter 7. Competitive Landscape
7.1. Recent Developments & Impact Analysis, By Key Market Participants
7.2. Market Participant Categorization
7.2.1. Amazon Web Services, Inc.
7.2.1.1. Company overview
7.2.1.2. Financial performance
7.2.1.3. Product benchmarking
7.2.1.4. Strategic initiatives
7.2.2. Visa Inc.
7.2.2.1. Company overview
7.2.2.2. Financial performance
7.2.2.3. Product benchmarking
7.2.2.4. Strategic initiatives
7.2.3. American Express
7.2.3.1. Company overview
7.2.3.2. Financial performance
7.2.3.3. Product benchmarking
7.2.3.4. Strategic initiatives
7.2.4. PayPal Holdings Inc.
7.2.4.1. Company overview
7.2.4.2. Financial performance
7.2.4.3. Product benchmarking
7.2.4.4. Strategic initiatives
7.2.5. Apple Inc.
7.2.5.1. Company overview
7.2.5.2. Financial performance
7.2.5.3. Product benchmarking
7.2.5.4. Strategic initiatives
7.2.6. Google Inc.
7.2.6.1. Company overview
7.2.6.2. Financial performance
7.2.6.3. Product benchmarking
7.2.6.4. Strategic initiatives
7.2.7. Airtel
7.2.7.1. Company overview
7.2.7.2. Financial performance
7.2.7.3. Product benchmarking
7.2.7.4. Strategic initiatives
7.2.8. Mastercard
7.2.8.1. Company overview
7.2.8.2. Financial performance
7.2.8.3. Product benchmarking
7.2.8.4. Strategic initiatives
7.2.9. Alipay
7.2.9.1. Company overview
7.2.9.2. Financial performance
7.2.9.3. Product benchmarking
7.2.9.4. Strategic initiatives
7.2.10. Samsung
7.2.10.1. Company overview
7.2.10.2. Financial performance
7.2.10.3. Product benchmarking
7.2.10.4. Strategic initiatives
7.2.11. AT&T
7.2.11.1. Company overview
7.2.11.2. Financial performance
7.2.11.3. Product benchmarking
7.2.11.4. Strategic initiatives
List of Tables
Table 1 List of abbreviation
Table 2 North America mobile wallet market, by technology, 2017-2030 (USD Million)
Table 3 North America mobile wallet market, by application, 2017-2030 (USD Million)
Table 4 North America mobile wallet market, by region, 2017 to 2030 (USD Million)
Table 5 U.S. mobile wallet market, by technology, 2017-2030 (USD Million)
Table 6 U.S. mobile wallet market, by application, 2017-2030 (USD Million)
Table 7 Canada mobile wallet market, by technology, 2017-2030 (USD Million)
Table 8 Canada mobile wallet market, by application, 2017-2030 (USD Million)
Table 9 Europe mobile wallet market, by technology, 2017-2030 (USD Million)
Table 10 Europe mobile wallet market, by application, 2017-2030 (USD Million)
Table 11 Europe mobile wallet market, by region, 2017 to 2030 (USD Million)
Table 12 Germany mobile wallet market, by technology, 2017-2030 (USD Million)
Table 13 Germany mobile wallet market, by application, 2017-2030 (USD Million)
Table 14 UK mobile wallet market, by technology, 2017-2030 (USD Million)
Table 15 UK mobile wallet market, by application, 2017-2030 (USD Million)
Table 16 France mobile wallet market, by technology, 2017-2030 (USD Million)
Table 17 France mobile wallet market, by application, 2017-2030 (USD Million)
Table 18 Asia-Pacific mobile wallet market, by technology, 2017-2030 (USD Million)
Table 19 Asia-Pacific mobile wallet market, by application, 2017-2030 (USD Million)
Table 20 Asia-Pacific mobile wallet market, by region, 2017 to 2030 (USD Million)
Table 21 China mobile wallet market, by technology, 2017-2030 (USD Million)
Table 22 China mobile wallet market, by application, 2017-2030 (USD Million)
Table 23 Japan mobile wallet market, by technology, 2017-2030 (USD Million)
Table 24 Japan mobile wallet market, by application, 2017-2030 (USD Million)
Table 25 India mobile wallet market, by technology, 2017-2030 (USD Million)
Table 26 India mobile wallet market, by application, 2017-2030 (USD Million)
Table 27 Australia mobile wallet market, by technology, 2017-2030 (USD Million)
Table 28 Australia mobile wallet market, by application, 2017-2030 (USD Million)
Table 29 South Korea mobile wallet market, by technology, 2017-2030 (USD Million)
Table 30 South Korea mobile wallet market, by application, 2017-2030 (USD Million)
Table 31 Latin America mobile wallet market, by technology, 2017-2030 (USD Million)
Table 32 Latin America mobile wallet market, by application, 2017-2030 (USD Million)
Table 33 Latin America mobile wallet market, by region, 2017 to 2030 (USD Million)
Table 34 Brazil mobile wallet market, by technology, 2017-2030 (USD Million)
Table 35 Brazil mobile wallet market, by application, 2017-2030 (USD Million)
Table 36 Mexico mobile wallet market, by technology, 2017-2030 (USD Million)
Table 37 Mexico mobile wallet market, by application, 2017-2030 (USD Million)
Table 38 Middle East and Africa mobile wallet market, by technology, 2017-2030 (USD Million)
Table 39 Middle East and Africa mobile wallet market, by application, 2017-2030 (USD Million)
Table 40 Middle East and Africa mobile wallet market, by region, 2017 to 2030 (USD Million)
Table 41 South Africa mobile wallet market, by technology, 2017-2030 (USD Million)
Table 42 South Africa mobile wallet market, by application, 2017-2030 (USD Million)
Table 43 Saudi Arabia mobile wallet market, by technology, 2017-2030 (USD Million)
Table 44 Saudi Arabia mobile wallet market, by application, 2017-2030 (USD Million)
Table 45 UAE mobile wallet market, by technology, 2017-2030 (USD Million)
Table 46 UAE mobile wallet market, by application, 2017-2030 (USD Million)
List of Figures
Figure 1 Market research process
Figure 2 Data triangulation techniques
Figure 3 Primary research pattern
Figure 4 Market research approaches
Figure 5 Value-chain-based sizing & forecasting
Figure 6 QFD modeling for market share assessment
Figure 7 Market formulation & validation
Figure 8 Mobile wallet: Market outlook
Figure 9 Mobile wallet: Competitive insights
Figure 10 Parent market outlook
Figure 11 Related/ancillary market outlook
Figure 12 Penetration and growth prospect mapping
Figure 13 Industry value chain analysis
Figure 14 Mobile wallet market driver impact
Figure 15 Mobile wallet market restraint impact
Figure 16 Mobile wallet market strategic initiatives analysis
Figure 17 Mobile wallet market: Technology movement analysis
Figure 18 Mobile wallet market: Technology outlook and key takeaways
Figure 19 Remote market estimates and forecasts, 2017-2030
Figure 20 Proximity market estimates and forecasts, 2017-2030
Figure 21 Mobile wallet market: Application movement analysis
Figure 22 Mobile wallet market: Application outlook and key takeaways
Figure 23 Retail & e-commerce market estimates and forecasts, 2017-2030
Figure 24 Hospitality & transportation market estimates and forecasts, 2017-2030
Figure 25 Banking market estimates and forecasts, 2017-2030
Figure 26 Vending machine market estimates and forecasts, 2017-2030
Figure 27 Others market estimates and forecasts, 2017-2030
Figure 28 Global mobile wallet market: Regional movement analysis
Figure 29 Global mobile wallet market: Regional outlook and key takeaways
Figure 30 North America market estimates and forecasts, 2017-2030
Figure 31 U.S. market estimates and forecasts, 2017-2030
Figure 32 Canada market estimates and forecasts, 2017-2030
Figure 33 Europe market estimates and forecasts, 2017-2030
Figure 34 UK market estimates and forecasts, 2017-2030
Figure 35 Germany market estimates and forecasts, 2017-2030
Figure 36 France market estimates and forecasts, 2017-2030
Figure 37 Asia-Pacific market estimates and forecasts, 2017-2030
Figure 38 Japan market estimates and forecasts, 2017-2030
Figure 39 China market estimates and forecasts, 2017-2030
Figure 40 India market estimates and forecasts, 2017-2030
Figure 41 Australia market estimates and forecasts, 2017-2030
Figure 42 South Korea market estimates and forecasts, 2017-2030
Figure 43 Latin America market estimates and forecasts, 2017-2030
Figure 44 Brazil market estimates and forecasts, 2017-2030
Figure 45 Mexico market estimates and forecasts, 2017-2030
Figure 46 Middle East and Africa market estimates and forecasts, 2017-2030
Figure 47 Saudi Arabia market estimates and forecasts, 2017-2030
Figure 48 South Africa market estimates and forecasts, 2017-2030
Figure 49 UAE market estimates and forecasts, 2017-2030

Companies Mentioned

  • Amazon Web Services, Inc.
  • Visa Inc.
  • American Express
  • PayPal Holdings Inc.
  • Apple Inc.
  • Google Inc.
  • Airtel
  • Mastercard
  • Alipay
  • Samsung
  • AT&T

Methodology

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About the Market

The Mobile Wallet market is a subset of the larger M-Commerce industry, which refers to the buying and selling of goods and services through mobile devices. Mobile Wallets are digital wallets that allow users to store payment information, such as credit card numbers, in a secure, digital format. This allows users to make payments quickly and securely without having to enter their payment information each time. Mobile Wallets also offer additional features, such as loyalty programs, discounts, and rewards. The Mobile Wallet market is growing rapidly, driven by the increasing adoption of mobile devices and the convenience of digital payments. Consumers are increasingly turning to mobile wallets for their everyday purchases, as they offer a secure and convenient way to pay. Some of the major players in the Mobile Wallet market include Apple Pay, Google Pay, PayPal, Venmo, and Samsung Pay. Show Less Read more

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