The
global Mobile Wallet Market is expected to reach USD 1,602.4 billion
by 2018, growing at a CAGR of 30.7% from 2012 to 2018. Mobile
commerce is anticipated to be the leading segment till 2020, which
will be then followed by mobile money transfer and mobile ticketing.
Browse
the full Mobile Wallet Market report at
http://www.transparencymarketresearch.com/mobile-wallet.html
The
market has shown a very clear picture of the mobile wallets segment
trending upward for the foreseeable future. In the past year, the
surge in the demand for mobile wallets and its applications are
attributed mainly due to the global rise in Smartphone penetration.
The rising smartphone penetration and increasing security are the
growth factors driving the mobile wallet market. In addition, the
market is also witnessing a global growth with increasing adoption of
mobile payment services. However, although mobile payment services
have emerged the market with its potential to transform the shopping
and payment experience, there is a lack of awareness regarding the
functioning of mobile wallets, security and privacy issues among many
users. Hence, most customers still prefer making cash or credit card
payments. These are the few factors that may hinder the growth of the
market in the forecast period 2012 to 2018.
Furthermore,
stakeholders in the mobile wallet domain provide flexible payment
services to users along with better brand recall value. They are
attempting to alleviate the concerns regarding the lack of awareness
issues, and thus aiming to cater complete safety of financial and
personal information.
The
key factor to achieving great success and share of the mobile wallet
is sheer customer experience. Users expect an intuitive experience in
terms of speed, security, and a well-thought engaged program.
A
sample of the report in PDF obtained by visiting:
http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=848
According
to this report, the EMEA (Europe, the Middle East and Africa) is
expected to be the largest market for the mobile wallet industry in
2018. The EMEA region in 2011 accounted for over 40% of the global
revenue share. The Asia-Pacific region is expected to witness the
fastest growth in terms of revenue over the forecast period, and is
expected to grow at a CAGR of 31.0% from 2012 to 2018 in this
geography. The reason behind the rapid growth in these regions was
the rising public acceptance of mobile wallets in Europe, as well as
the overall dense population in Africa.
The
European market for mobile wallet services is developing rapidly,
with substantial momentum in NFC wallet services and miscellaneous
launches of non-NFC wallet services pertaining to mobile-wallet.
Browse
Press Release Mobile Wallet Market
http://www.transparencymarketresearch.com/pressrelease/mobile-wallet-market.htm
Also,
the retail sector of the mobile-wallet formed the largest application
of mobile wallets in 2011. It was valued at USD 144.8 billion.
Similar trend is expected to propel the growth in this market further
owing to factors such as initiatives undertaken to equip POS devices
in convenience stores and ease of payment using smartphones at any
locations.
However,
the next upward trending segment after the retail is the vending
machines. They are significant applications of the mobile wallet
technology and are expected to enjoy huge support from stakeholders.
Browse
All Technology & Media Market Research Reports @
http://www.transparencymarketresearch.com/technology-market-reports-8.html
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