Report: Mobile Wallet Industry Leveraging NFC Technology to Reach $635 Billion Globally by 2020
Industry research and analytics firm Research and Markets has announced the addition of the “Mobile Wallet and Payment Technologies: Global Markets” report to their offering.
The global mobile wallet market reached $46.8 billion in 2014. The market is expected to reach $635.0 billion by 2020 from $113.5 billion in 2015, increasing at a compound annual growth rate (CAGR) of 41.1% from 2015 to 2020.
The market is segmented on the basis of technologies: mobile commerce-mobile payment solutions (mobile shopping, bill payments, entertainment and events and hotels), contactless near-field communication (NFC); mobile coupon; money transfer; mobile micropayment; mobile ticketing-rail, metro and bus tickets; airline tickets and boarding passes; passenger check-in; baggage check-in; and micropayments. This report will also outline in detail the following product segmentations: NFC chips, NFC tags, NFC readers, NFC micro secure digital (SD) cards and NFC SIM or universal integrated circuit cards (UICCs).
The scope of the mobile wallet market will exclude online payments, payments through debit or credit cards (electronic fund transfers at the point of sales) and online trading. The mobile wallet includes only the payments made through exclusive service providers through a personalized mobile wallet account.
Each mode of payment is analyzed in terms of current global market size; forecast for 2014 with a compound annual growth rate (CAGR) from 2015 through 2020; and the region sizing and forecasting for North America, EMEA, Asia-Pacific and ROW. In addition to the data, the report provides insight on market demand drivers and supplier strategies. Key players are also profiled as well as the mobile wallet value chain.