Mobile Wallet Market to reach US$1,602.4 by 2018 End, Advances for making Online Payments more Secure help in Steady Expansion

-
The global mobile wallet market is characterized by increasingly dynamic vendors landscape, finds Transparency Market Research (TMR). A large part of the market share—over 70%–was found to be consolidated among the top three players in 2012. These companies are ISIS (Softcard), PayPal Holdings, Inc., and Google (Google Wallet). Some of the other prominent names in the market are Visa Inc., Square Inc., Microsoft Corporation Inc., Merchant Customer Exchange, MasterCard Worldwide, eBay, and American Express Co.

With the global mobile wallet market being increasingly price-sensitive, the interoperability of money transfer across mobile wallets plays a crucial role in the competitive dynamics in the market. A growing number of players in the market are expected to enter into collaborations and strategic partnerships to achieve standardization of the products they offer.

The global market for mobile wallet is projected to rise expand at a robust pace over the assessment period 2012–2018. The market stood at a worth of US$675.0 billion in 2015 and is expected to expand to touch a valuation US$1,602.4 billion by the end of the forecast period.Regionally, Europe, the Middle East, and Africa (EMEA) is expected to emerge as the dominant market for mobile wallets. The extensive demand is attributed to the staggering usage of smartphones and is supported by the growing collaborations undertaken by mobile operators.

Need for more making Money Transaction more Convenient imparts Robust Thrust to Demand

The growth of the mobile wallets market rides on the back of the rising demand for a convenient, rapid, and secure mode of digital payments for goods and services all over the globe. The rising need for making money transactions secure and less fraud-prone is a key factor bolstering the demand for mobile wallets. The vast popularity that smartphone apps among worldwide population has increased in the rapid and steady expansion of the market.


Burgeoning Adoption of Mobile Banking underpins Rapid Expansion

The features of quick accessibility to payments at any place and time has emerged as a compelling proposition fueling the uptake of mobile wallets, especially among savvy customers. The rising adoption of near field communication (NFC) technologies in number of end-use industries is also providing a robust underpinning for the steady expansion of the market.

The attractive strides that mobile banking products and services are experiencing in the developing world are propelling the demand for mobile wallets. The demand for mobile apps that help in seamless, hassle-free, and anytime access to various banking services is boosting the market. The focus on financial inclusion has also provided a large impetus to the demand for mobile wallets in emerging economies.

Contact Us:

Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453

Comments

Post a Comment

Popular posts from this blog

Oil and Gas Terminal Automation Market: To Reflect Impressive Growth Rate By 2019 - 2027

-
  Global  Oil and Gas Terminal Automation Market : Overview A sturdy growth rate, compounded annually, will be recorded in the global oil and gas terminal market, states Transparency market Research (TMR), for the period of 2019 to 2027. It will be driven forward on to a high growth trajectory at the back of a number of growth factors. Some of these are low oil prices and growing demand for natural gas across a number of varied industry verticals. Demand for oil and gas will also be pushed up by growing population for its energy and fuel needs. This in turn will require more exploration, extraction, better storage and robust distribution. And, this again would lead to demand for oil and gas terminal automation. Therefore, the market will be rife with new opportunities of growth in this period. And, as per TMR, the players would do their best to make the most of these. Global Oil and Gas Terminal Automation Market: Competitive Landscape Global oil and gas terminal automation ma...
Read more

Impact Sensing Door Unlock System Market will Generate New Growth Opportunities By 2019 - 2027

-
  Impact Sensing Door Unlock System : Introduction The impact sensing door unlock system unlocks the door automatically without a key, it can be operated through a mobile application. The impact sensing door unlock system consists of sensors and an electronic control unit, wherein the sensors receive a signal from the wireless system and transmits that signal to the electronic control unit. The electronic control unit is wired to the central lock, which in turn unlocks or locks all the doors of the vehicle. Key Drivers of Impact Sensing Door Unlock System Market Rise in demand for safety and security features in a vehicle is estimated to boost the impact sensing door unlock system market. Every vehicle manufacturer is trying to boost the integration of advanced safety features, including center locking system with impact sensing door unlock system that is activated through a mobile application. This in turn is projected to fuel the demand for the impact sensing door unlock system. ...
Read more

Architectural LED Products Market: Size, Analytical Overview, Growth Factors, Demand, Trends And Forecast To 2018 - 2026

-
  Global Architectural LED Products Market: Overview  Safety is one of the key concern in architectural spaces, which is important to recognize the need for acceptable architectural lighting. Proper architectural lighting has a vital role for people occupying the architectural space. Additionally, architectural lighting attracts the person’s attention and enables the architectures for serving its true purpose with enhanced features.  The  architectural LED products market  report involves some of the insightful predictions over the scope of the market and some prospects over growth. The new report from Transparency Market Research (TMR) on the architectural LED products market offers the thorough analysis of market segmentation and involves the past revenue and future forecasts. The report offers numerous key strategies adopted by key players coupled with some prominent trends, which are impacting on the growth. Along with this, it explains important information...
Read more