2014-02-25 20:51:37 - It is estimated that more than 70% smartphone users are willing to adopt mobile payment modes and 15% have already completed the adoption - Mobile Wallet Market report
Mobile wallet is a system that allows consumers to pay by phone during travel, from any location, anytime. The global mobile wallet market is expected to grow at a CAGR of 12.5% from 2012 to 2020. The key driver for the growth of the market is it to provide consumers with greater convenience for payment. It is estimated that more than 70% smartphone users are willing to adopt mobile payment modes and 15% have already completed the adoption.
However, the payment method can be used till the mobile has power and battery backup. Therefore, when the battery of the mobile is down, the mobile wallet cannot be used. This is one of the key restraints for the growth of the market.
Smartphone users have multiple applications on their phones which consume power and the chances of battery outages are high. This limits the usability of the mobile wallet application. An important challenge for technology providers is to make the advances in the emerging NFC technology, as it is expected to have high demand among consumers.
Some of the key players profiled in this report are American Express, Apple Inc., AT&T Inc., Blackberry, First Data, Google, Sprint, Samsung, MasterCard and Visa.
Marketinforesearch.com has presented newly published market report, "Mobile Wallet Market (Applications, Mode of Payment, Stakeholders and Geography) - Global Share, Size, Industry Analysis, Trends, Opportunities, Growth and Forecast, 2012 - 2020".
-This report provides market intelligence with respect to applications, mode of payment, stakeholders and geographies
-Deep dive of top factors impacting the market growth
-Value chain analysis, Porters five forces, top investment pockets are analyzed and presented in detail in the report
-SWOT analysis and strategic developments are included in the report for key players
-Study the challenges and opportunities available in the mobile wallet market
-Derive market estimates for mobile wallet market and its sub-segments
-Analyze the key strategies adopted by major market players engaged in the market
-Analyze the market factors in various geographic regions and understand business opportunities
-Assess and rank the top factors that are expected to affect the growth of the market
GLOBAL MOBILE WALLET MARKET BY APPLICATION
-Mobile Commerce Market
-Mobile Wallet Shopping Market
-Mobile Wallet Bill Payments Market
-Mobile Wallet Hotel Booking and Payments Market
-Mobile Wallet Entertainment and Event Pay Market
-Mobile Ticketing Market
-Rail, Metro and Bus Tickets
-Airline Tickets and Boarding Passes
-Mobile Coupons Market
-Mobile Transfers Market
GLOBAL MOBILE WALLET MARKET BY MODE OF PAYMENT
-NFC Product Market
MOBILE WALLET MARKET BY STAKEHOLDERS
-Mobile Network Operators (MNOs)
-Handset and other Hardware Solution Manufacturers
-OSS/BSS Solution Providers
-Software Developers and Cloud Computing
-Content and Applications Aggregators
MOBILE WALLET MARKET BY GEOGRAPHY
Mobile wallet technology providers, dealers, and wholesalers
-Mobile service providers
-System integrators and software vendors
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