Global Mobile Wallet Market 2017-2021

  • Published: Dec 2016
  • Pages: 69
  • SKU: IRTNTR11131

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This market study report identifies Alibaba, Apple, Citrus Payment Solutions, Google, MasterCard, Oxigen Services, PayPal Holdings, Samsung Electronics, and Visa as the key vendors in the global mobile wallet market. This report also presents a detailed analysis of the mobile wallet market growth by application (retail, transportation, grocery stores, restaurants, and vending machines), by industry (entertainment, travel and leisure, banking, retail, and others), and by geography (the Americas, APAC, and EMEA).

Global mobile wallet market overview

Market research analysts at Technavio predict that the global mobile wallet market size and share will grow steadily during the next four years and post an impressive CAGR of more than 35% by 2021. This market research analysis identifies the increased use of m-commerce as one of the primary factors for the phone wallet market. The constantly rising number of smartphones across the globe and high internet penetration have resulted in the increased popularity of m-commerce among consumers. In addition to offering easy access to a variety of products even from remote locations, m-commerce also offers flexibility and easy payment services to customers. This enhances the brand recall value and benefits for vendors in the long-term. As a result, there will be an increased adoption of mobile phone wallets among m-commerce companies, which will drive the mobile wallet market growth in the coming years.

This market research and analysis estimates that in terms of geographical regions, APAC will be the major revenue contributor to the market by the end of the forecast period. Though EMEA currently accounts for the major market shares, factors such as the increasing penetration of smartphones and mobile internet, the rise in usage of mobile devices in developed countries such as Australia, Hong Kong, and Singapore, and the increased adoption of mobile wallet technology in the developing countries such as India and China will augment the market’s growth prospects in this region.

Competitive landscape and key vendors

The market is marked by the presence of a number of international and regional players and is highly competitive, according to the mobile wallet market report by Technavio. The growth of mobile wallet companies mainly depends on the variety of services they provide. Service differentiation, product portfolio, and pricing are some of the other factors that vendors mainly compete on. The increasing usage of mobile wallets for shopping will intensify the market’s competitive environment. Furthermore, analysts predict that the international players will grow inorganically during the predicted period by acquiring small players. To survive the competition and establish their presence in the market, mobile payment companies have the need to distinguish their product and service offerings through clear and unique value propositions.

The leading vendors in the market are -

  • Alibaba Group
  • Apple
  • Citrus Payment Solutions
  • Google
  • MasterCard
  • Oxigen Services
  • PayPal Holdings
  • Samsung Electronics
  • Visa

The other prominent vendors in the market are Airtel, American Express, Bank of America, Dwolla, LevelUp, LivQuik, Merchant Customer Exchange, MobiKwik, M-Pesa, Square, Venmo, Y-cash Software Solutions, and ZipCash.

Segmentation by application and the mobile wallet market analysis

  • Retail stores
  • Transportation
  • Grocery stores
  • Restaurants
  • Vending machines

During 2016, the retail stores segment accounted for the major shares and dominated this market, as per the mobile wallet statistic report The adoption of cashless payments using mobile wallets reduces the operational cost for retailers and increases their revenue. Additionally, mobile wallets have much lower processing fee than card-based transactions and also enable retail stores to easily track and analyze consumer data. As a result, this segment will witness an increased adoption of mobile wallets in the coming years as well.

Segmentation by industry and the mobile wallet market analysis

  • Entertainment
  • Travel and leisure
  • Banking
  • Retail

According to this market research report, the retail segment accounted for the major shares and dominated the market during 2016. The growing popularity of m-commerce that results in an increase in the digital purchase of various goods will drive the growth prospects of the market as mobile wallets are quicker and more efficient during online payments.

Key questions answered in the report include

  • What will the mobile wallet market worth, size and the growth rate be in 2021?
  • What are the key factors driving the global mobile wallet market?
  • What are the key mobile wallet market trends impacting the industry growth?
  • What are the challenges to the mobile wallet market growth?
  • Who are the key vendors in the global mobile wallet market?
  • What are the mobile wallet market opportunities and threats faced by the vendors?
  • Trending factors influencing the mobile wallet market shares of the Americas, APAC, and EMEA.
  • What are the key outcomes of the five forces analysis of the global mobile wallet market?

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Table of Contents

PART 01: Executive summary

PART 02: Scope of the report

  • Market overview
  • Base year and forecast period
  • Vendor selection criteria
  • Numerical figures
  • Top-vendor offerings

PART 03: Market research methodology

  • Research methodology
  • Economic indicators

PART 04: Introduction

  • Key market highlights

PART 05: Market landscape

  • Correlation of mobile internet with global mobile wallet market
  • External factors influencing mobile wallet transactions
  • Global mobile wallet market
  • Five forces analysis

PART 06: Market segmentation by application

  • Global mobile wallet market by application
  • Global mobile wallet market by retail stores
  • Global mobile wallet market by vending machines
  • Global mobile wallet market by transportation
  • Global mobile wallet market by restaurants
  • Global mobile wallet market by grocery stores

PART 07: Market segmentation by industry

  • Global mobile wallet market by industry

PART 08: Geographical segmentation

  • Global mobile wallet market by geography
  • Mobile wallet market in Americas
  • Mobile wallet market in APAC
  • Mobile wallet market in EMEA

PART 09: Key leading countries

  • Mobile wallet market in India
  • Mobile wallet market in UK
  • Mobile wallet market in US

PART 10: Buying criteria

PART 11: Market drivers

  • Increased use of m-commerce
  • High adoption of contactless payment solutions
  • Increased adoption of mobile payment and digital wallet services
  • Extensive use of mobile devices for payments
  • Growing number of mobile internet users

PART 12: Impact of drivers

PART 13: Market challenges

  • Limited mobile POS terminals
  • Lack of awareness about features of mobile wallet technology
  • Privacy and security concerns

PART 14: Impact of drivers and challenges

PART 15: Market trends

  • Stringent regulations for secure payments
  • Rapid growth in 3G/4G subscriptions and mobile data consumption
  • Emergence of HCE
  • Growing awareness about mobile wallets

PART 16: Vendor landscape

  • Competitive scenario
  • Key vendors

PART 17: Appendix

  • List of abbreviations

PART 18: Explore Technavio

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.


Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases


Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts



  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis


  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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