Global Mobile Wallet & Payment Tech Market was valued at USD 114.25 Billion in the year 2017. Global Mobile Wallet & Payment Tech Market is further estimated to grow at a CAGR of 40.37% from 2018 to 2023 to reach USD 874.11 Billion. North America region holds the highest market share in 2017 and Asia-Pacific market is considered as the fastest growing market in the forecasted period. At a country level, developed markets like the U.S. as well the emerging markets like China & India with highest population base holds the notable market share in 2017 and it is projected to grow at a gradual rate in the coming years.

Deutsche Telekom AG (Germany), Paypal Holdings Inc (US), Apple Inc. (US), At&T Inc. (US), Vesta Corp. (US), are some of the key players in the Mobile Wallet & Payment Tech market with Paypal Holdings Inc holding the substantial market share because of its better global presence both at production and at an operational level. Rising research and development expenses to cater changing demand of end users, similarly, growth strategies such as acquisition, merger, and expansion of the distribution network were few techniques adopted by most of Tier 1 and Tier 2 manufacturers in recent years.

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Drivers:

Increasing number of smartphone users

Introduction of high-speed internet services

Restraints:

Resistance to change

Opportunities:

The Rise of Bluetooth in transactions

Challenges:

Lack of knowledgeable customers

Amongst mode of Payment, Remote Payment type is holding highest market share because of the growing popularity and easy accessibility during the forecast period.

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The Near - Field Communication Devices segment is also expected to grow at the highest CAGR during the year 2018-2023.

Key Benefits for Stakeholders

Mobile Wallet & Payment Tech Manufacturers, Distributors and Retailers

Research and Consulting organization

Technology Standards Organizations, Forums, Alliances and Associations

End-use industries

Regulatory bodies, policy actors, and consumers.

By Application

Micropayment

Mobile Ticketing

Money Transfer

Mobile Coupon

Mobile Commerce

By Mode of Payment

Remote Payment

Near - Field Communication

By Region

North America

Europe

Asia-Pacific

LAMEA

Key Market Players

Deutsche Telekom AG (Germany)

Paypal Holdings Inc (US)

Apple Inc. (US)

At&T Inc. (US)

Vesta Corp. (US)

Fidelity National Information Services Inc. (US)

Verizon Communications Inc. (US)

(A brief overview of another 13 companies is also provided)

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