Global Mobile Wallet Market By Application By 2020

Good Essays
The global mobile wallet market is expected to reach USD 2,950.2 billion by 2020, according to a new study by Grand View Research, Inc. Increasing smartphone penetration, exponential growth of mobile internet applications and advancement of 3G and 4G networks are expected to serve as key market drivers over the forecast period. Technological advancement and the advent of NFC (Near-Field Communication) are also expected to positively impact market growth over the forecast period.

The market is characterized by consumer demand for easy and convenient payment modes that consume minimum time as against traditional banking channels. Furthermore, surging demand for high-end mobile devices and integration of technologies such as RFID, Bluetooth and NFC across POS (Point of Sale) terminals is expected to significantly contribute to industry growth. Additionally, secure and easy payment processes and enhanced user experience offered by mobile wallet solutions are expected to fuel global demand.

The report “Mobile Wallet Market Analysis By Application (Grocery Stores, Public Transportation, Restaurants, Retail, Vending Machines) And Segment Forecasts To 2020,” is available now to Grand View Research customers and can also be purchased directly at http://www.grandviewresearch.com/industry-analysis/mobile-wallet-market

Further key findings from the study suggest:

• The global mobile wallet market was estimated to comprise 230 million users in 2013, which is expected to reach 1,420.8 million users by 2020, growing at a CAGR of 30.0% from 2014 to 2020.
• Retail was the largest application area in 2013 and accounted for over 40% of the overall market. This can be primarily attributed to initiatives to equip retail stores with easy mobile device payment options along with integration of POS terminals and various loyalty schemes, which result in better customer engagement. In public transportation, mobile wallet facilitates the purchase of tickets for air, rail, bus,

You May Also Find These Documents Helpful

  • Better Essays

    Mobile Wallet

    • 1181 Words
    • 5 Pages

    MOBILE WALLET Abhinav Sultania B.E. SEM VIII Depart ment of co mputer engineering Bharati Vidyapeeth College of Engineering, pune abhinavsultania@hotmail.co m Abstract Mobile wallet system is an innovative and at any point of time. One of the significant application of mobile applications is transforming the mobile phone into a mobile wallet with digital cash that supports both as real cash and security [1]. It is a type of mob ile payment technology in which instead of paying with cash…

    • 1181 Words
    • 5 Pages
    Better Essays
  • Satisfactory Essays

    Mobile Wallet Market (Applications, Mode of Payment, Stakeholders and Geography) - Global Share, Size, Industry Analysis, Trends, Opportunities, Growth and Forecast, 2012 - 2020On 16th July 2014 On 16th July 2014 Summary The mobile wallet market has evolved as a result of advancements in the mobile phone technology and is expected to grow exponentially in near future, favored by continuous research and developments in the smartphone technology and lowering security concerns. The widespread…

    • 2472 Words
    • 15 Pages
    Satisfactory Essays
  • Satisfactory Essays

    The global market for biosurfactants is expected to reach USD 2,308.8 million by 2020, according to a new study by Grand View Research, Inc. Escalating consumer preference towards the use of bio-based products, particularly in Europe and North America is expected to increase biosurfactant penetration. In addition, stringent regulatory policies are further expected to augment the biosurfactant demand over the next six years. Methyl Ester Sulfonate (MES) was the largest consumed biosurfactant, accounting…

    • 553 Words
    • 3 Pages
    Satisfactory Essays
  • Powerful Essays

    Mobile Application

    • 1601 Words
    • 7 Pages

    Eco-System of the mobile application The quality or state of being mobile. The rising demand for mobile applications has taken mobile technology to a new level. As per In-Stat expects, mobile application downloads is expected to reach nearly 48 billion in 2015 and Forrester Research predicts the mobile app market to be worth $38 billion by 2015. It is a well known fact, that for businesses to succeed, partnership plays a vital role. Similar is the situation for mobile application development environment…

    • 1601 Words
    • 7 Pages
    Powerful Essays
  • Satisfactory Essays

    Global Mobile Enterprise Application Development Platform Market 2014-2018 A mobile enterprise application development platform is a software-based application that enables enterprises to build, test, and deploy mobile apps for devices such as smartphones and tablets rapidly. It gives significant advantages to enterprises because it helps increase the speed of mobile enterprise applications, enables data connectivity through mobile middleware, and offers management and reporting capabilities.…

    • 350 Words
    • 3 Pages
    Satisfactory Essays
  • Good Essays

    Mobile Application

    • 1512 Words
    • 7 Pages

    Foreign Study “Mobile Application for Group Expenses and Its Deployment” In making of “Mobile Application for Group Expenses and Its Deployment”, David Vaura set goals that could help him in making his thesis. This are the following goals: to design a mobile application for group expenses, describe synchronization with a cloud server, open application interface (API) and related cooperation with third-parties, show ways of gathering feedback from users related to the app evolution, evaluate marketing…

    • 1512 Words
    • 7 Pages
    Good Essays
  • Good Essays

    The global market for image sensors is expected to reach USD 12,028.2 million by 2020, according to a new study by Grand View Research, Inc. Image sensors are primarily used in camera phones and tablets; therefore, growing demand for these devices is expected to be the key driving force for the market. Furthermore, growth in industrial, automotive and medical industries is expected to fuel market growth in the coming years. Focus on minimally invasive procedures such as endoscopy, as well as advancements…

    • 647 Words
    • 3 Pages
    Good Essays
  • Good Essays

    mobile application

    • 822 Words
    • 4 Pages

    or more songs, lyrics or background music to produce a new soundtrack .In case of the World Wide Web, mashups are websites, web - pages, web – services or applications which combine data, information, music, geotracks from more than one source into one application, service or website. This is generally achieved by using third party application programming interfaces (API ́s) or open technologies such as Ajax, PHP or syndicated feeds like RSS or ATOM. Based on service composition in Service Oriented…

    • 822 Words
    • 4 Pages
    Good Essays
  • Good Essays

    Mobile Application

    • 807 Words
    • 4 Pages

    Bank of America Mobile Application Christine M. Eggert CIS/207 July 26, 2012 Shaun vanBergen Bank of America Mobile Application In the world today having the ability to stay connected with everyday life anywhere you go is a new commodity is which most are not a costume. “Wireless technology makes location irrelevant, increasing opportunities for businesses through mobile computing and commerce” (Volonino, 2011). Having the option or ability to be able to check your email, invoice bank accounts…

    • 807 Words
    • 4 Pages
    Good Essays
  • Powerful Essays

    Commercial Drones Market by Type (Fixed Wing, Rotary Blade, Quad Rotor), Technology (Energy & Propulsion System, Automation, Collision Avoidance), Application (Government, Agriculture, Manufacturing, Retail) & Geography - Global Forecast to 2020 Released On 27th February 2015 Commercial drones or commercial unmanned aerial vehicles (UAV) refer to small aircraft which fly without direct human control and are guided by a remote device. The incidents related to natural disaster and public unrest during…

    • 3540 Words
    • 17 Pages
    Powerful Essays