Global Mobile Wallet & Payment Tech Market was valued at USD 114.25 Billion in the year 2019. Global Mobile Wallet & Payment Tech Market is further estimated to grow at a CAGR of 40.37% from 2019 to 2025 to reach USD 874.11 Billion. North America region holds the highest market share in 2019 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 2019 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.
Increasing number of smartphone users
Introduction of high-speed internet services
Resistance to change
The Rise of Bluetooth in transactions
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.
The Near Field Communication Devices segment is also expected to grow at the highest CAGR during the year 2019-2025.
Key Benefits for Stakeholders
Mobile Wallet & Payment Tech Manufacturers, Distributors and Retailers
Research and Consulting organization
Technology Standards Organizations, Forums, Alliances and Associations
Regulatory bodies, policy actors, and consumers.
By Mode of Payment
Near Field Communication
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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