The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

Increased smartphone adoption is likely to promote innovation in mobile wallet manufacturing, propelling the market during the forecast period.

The global mobile wallet market is expected to grow from $1,236.40 billion in 2022 to $1,605.77 billion in 2023 at a compound annual growth rate (CAGR) of 29.9%. The global mobile wallet market size is expected to grow to $4,661.74 billion in 2027 at a CAGR of 30.5%.

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Global Mobile Wallet Market Segments Include:

• By Type: Open, Semi-Closed, Closed
• By Ownership: Banks, Telecom Operators, Device Manufacturers, Tech Companies
• By Technology: Near Field Communication (NFC), Optical/QR Code, Digital, Text-Based
• By Application: Hospitality And Transportation, Media And Entertainment, Retail, Healthcare, Energy And Utilities, Telecommunication, Other Applications
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global mobile wallet market in 2021.

Major Market Players in the mobile wallet market include Amazon Web Services Inc., VISA Inc., American Express Banking Corporation, PayPal Holdings Inc., Apple Inc., Mastercard Incorporated, Samsung Electronics Co. Ltd., Alipay.com, Google Inc.

Product innovation is a prevalent trend in the mobile wallet business. To maintain their market position, major industry players are always innovating and releasing new services. For example, Vibes, a US-based technology startup and provider of mobile wallet services, announced Mobile Wallet as a Channel in December 2021, a new add-on to its existing mobile wallet product. To generate top-line development and boost customer happiness, the innovation transforms consumers’ mobile wallets into a permanent, dynamic, and personalised content channel.

The Mobile Wallet Global Market Report 2023  provides a mobile wallet market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The mobile wallet market forecast analyzes mobile wallet market size, mobile wallet market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

A mobile wallet is a virtual wallet that is linked to a user’s bank account and can make and accept payments from the account. These mobile wallets are used to make payments for everyday purchases.

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