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Mobile Wallet Market by Type (Closed, Semi-Closed, Open), by Technology (NFC (Near field communication), by North America (United States, Canada, Mexico), by Europe (Germany, France, Italy, United Kingdom, Spain, Nordics, Benelux, Rest of Europe), by Middle East & Africa (UAE, South Africa, Saudi Arabia, Rest of Middle East Africa), by Asia Pacific (China, Japan, India, South Korea, Taiwan, South East Asia, Australia, Rest of Asia-Pacific), by Latin America (Brazil, Argentina, Rest of South America) Forecast 2024-2032
The size of the Mobile Wallet Market was valued at USD 318.5 USD Billion in 2023 and is projected to reach USD 1045.05 USD Billion by 2032, with an expected CAGR of 18.5 % during the forecast period. The mobile wallet can therefore be defined as a virtual application used to store payment details within an individual’s handheld device such as a smartphone or a tablet. Some that can be distinguished are closed wallets, which are meant for use at a particular merchant’s store or for a particular service, and open wallets which are general-purpose. Mobile wallets also incorporate secured ways of payment such as through encryption, biometrics, and tokenization to protect data. They also encompass features such as Transaction history, Loyalty program, and Receipts features among others. It is noteworthy that the use of mobile wallets in addition to paying for purchases includes ticketing, transit passes, and P2P transfers, which indicates that the application of wallets is extensive and can be regarded as an innovative method of using payments and conducting financial transactions in the modern world and daily life.
Mobile Wallet Trends
Type:
Technology:
This report provides an in-depth analysis of the global mobile wallet market, including market size, growth drivers, challenges, and opportunities. It also covers industry trends, key players, and future projections.
Aspects | Details |
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Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 18.5 % from 2018-2032 |
Segmentation |
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Aspects | Details |
---|---|
Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 18.5 % from 2018-2032 |
Segmentation |
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Note* : In applicable scenarios
Primary Research
Secondary Research
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