Published Date: 30-Sep-2022
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According to a new report, published by KBV research, The Global Mobile Wallet Market size is expected to reach $30.2 billion by 2028, rising at a market growth of 27.0% CAGR during the forecast period.
The Proximity market acquired the highest revenue share in the Global Mobile Wallet Market by Technology in 2021, thereby, achieving a market value of $18.4 billion by 2028. Customers can utilize the mobile phones or any other smart device to pay for products and services at a physical point-of-sale (POS) terminal by employing proximity technology. This market is divided into distant and proximity technology segments.
The Banking market is showcasing a CAGR of 27.6% during (2022 - 2028). The banking segment procured a substantial revenue share in the mobile wallet market in 2021. With digital IDs becoming more widespread and regulated in a manner that permits interoperability with mobile wallets, banks could gain access to personal data that would make it simpler and quicker to conduct anti-money laundering duties, customer checks, and potentially several other regulatory responsibilities.
The Asia Pacific market dominated the Global Mobile Wallet Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $11.6 billion by 2028. The North America market is registering a CAGR of 26.5% during (2022 - 2028). Additionally, The Europe market would showcase a CAGR of 26.2% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/mobile-wallet-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Apple, Inc., Samsung Electronics Co., Ltd. (Samsung Group), Google LLC, Amazon Web Services, Inc. (Amazon.com, Inc.), PayPal Holdings, Inc., Ant Group (Alipay) (Alibaba Holding), AT&T, Inc. (AT&T Intellectual Property), Mastercard, Inc., Visa, Inc., and American Express Company.
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