Mobile Wallet Market Forecast by 2029, Latest Drivers and Key Companies.

The market size for Mobile Wallet is estimated in this report using 2021 as the base year and a forecast period of 2022 to 2029. According to this analysis, the Mobile Wallet market will increase by millions of dollars by 2029 when compared to 2021. Over the next seven years, the revenue CAGR of the Mobile Wallet market will skyrocket.

The Mobile Wallet market research report includes detailed data on the market's size, price and revenue, trends, growth, and capacity, as well as a forecast for the years up to 2029. There is also a thorough examination of the main growth factors for this Mobile Wallet market. This report is a thorough quantitative analysis of the market that provides data for developing strategies to increase growth and efficiency.

There is a demand for mobile devices. 92.3 million US users over the age of 14 used an online payment method in at least one of the first six months of 2021, according to the most recent eMarketer report. That leaves about 40% of Americans who use smartphones. The global pandemic played a significant role in this rise in usage, but it will continue even after the dust settles; by 2025, mobile wallet usage is anticipated to surpass that of half of all smartphone users.

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Mobile Wallet Market Overview:

The best tool for BOPIS (buy online, pick up in store) is the mobile wallet, and drive-up services have been used as a secure link between in-person and online purchasing. In 2021, approximately 2.1 billion users will send or receive money using a mobile wallet, up from 1.6 billion at the end of 2017. A virtual wallet that stores credit card information on a smartphone or tablet is called a mobile wallet, also referred to as a mWallet or an eWallet. It's a digital debit card that can be used to send or receive money online and stores credit card or prepaid card information. Mobile wallets are typically distributed using a number of different payment processing models, including mobile billing, SMS-based transactions, mobile online payments, near-field communications (NFC), and other methods.

COVID 19 Impact:

COVID-19 has an impact on the market, and as its impact spreads in 2019 and 2020, it will also influence the growth rate. The COVID-19 crisis is requiring businesses and organisations to manage risk and digitise operations to give decision-makers trustworthy data and experiences. The most recent research, viewpoints, and insights from MMR on the management issues that affect businesses and organisations most regarding the market support this.

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Mobile Wallet Market Segment:

The market is divided into the following segments: Hospitality & Transportation, Media & Entertainment, Retail, Healthcare, Energy & Utilities, Telecommunication, and Others based on Industry Vertical. Retailers are becoming more and more aware of the potential advantages of accepting mobile payments. Retailers who use digital marketing and cashless payment technologies should have access to customer information and loyalty. With NFC technology, quicker checkout and lower processing fees, costs should be reduced, and operational efficiency should increase. Retailers can use the technology to track rewards for loyalty and run special promotions to better connect with mobile customers. During the forecast period, the retail sector is anticipated to grow significantly. The proliferation of smartphones and the increasing demand for better consumer products are anticipated to fuel the increase in demand.

Top Companies in Mobile Wallet Market:

PayPal Holdings, Inc.
Samsung Electronics Co., Ltd
VISA Inc.
Amazon Web Services Inc.
American Express Banking Corp.
Apple Inc.
com
AT&T Inc.
Google Inc.
JP Morgan Chase
Tencent
Ant Financial
One97 Communications Limited
Vodafone
Skrill
Sprint Corporation
Well Fargo
First Data
Regional Analysis:

North America (United States, Canada and Mexico)
Europe (UK, Germany, France, Italy, Russia, Sweden, etc.)
Asia-Pacific (China, Japan, South Korea, India, Australia, ASEAN, and Rest Of APAC)
South America (Brazil, Argentina, etc.)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
Important Features of the Reports:

Comprehensive overview of the Mobile Wallet market.
Mobile Wallet Market drivers, restraints, opportunities, and challenges region-wise.
Explanations for market share and segmentation in detail.
Current market trends and advancements
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