Mobile Wallet (NFC, Digital Wallet) Global Market Technology and Research – Mobile Wallet Industry Analysis, Trends, Growth, Report and Forecast Till 2022
Research Beam study says Global Mobile Wallet (NFC, Digital Wallet) Market is expected to grow during the forecast period 2014 – 2022, Request Sample Copy @ http://www.researchbeam.com/mobile-wallet-market/request-sample
Research Beam added report on “World Mobile Wallet (NFC, Digital Wallet) Market Overview, Analysis, Demand, Report, Trends, Growth and Research – Mobile Wallet (NFC, Digital Wallet) Market by Application (Commerce Market (Shopping, Bill Payments, Hotel Booking and Payments and Entertainment, Event Pay Market) Ticketing Market (Rail, Metro and Bus Tickets, Airline Tickets and Boarding Passes), Mobile Coupons, Mobile Transfers and Micropayments), Mode of Payment (Remote Payment, NFC Payment and NFC Product) and Stakeholders (Mobile Network Operators (MNOs), Handset and other Hardware Solution Manufacturers, OSS/BSS Solution Providers, Software Developers and Cloud Computing, Content and Applications Aggregators) – Global Opportunity Analysis and Industry Forecast, 2012 – 2020”
The market has evolved as a result of advancements in the mobile phone technology and is expected to grow exponentially in near future, favored by continuous research and developments in the smartphone technology and lowering security concerns. The widespread smartphone adoption in developed markets and its increasing penetration levels in developing markets are influencing the growth of the mobile wallet market positively. Furthermore, growing adoption of NFC (near field communication) technology by retailers and consumers is expected to propel the growth of the mobile wallet market.
A mobile wallet allows consumers to make transactions even during travel, from any location and anytime. It not only provides transaction facilities at affordable prices but also facilitates consumers to manage their accounts easily. While all these aspects are boosting the growth of the mobile wallet industry, consumers’ concerns related to security and technology infancy as well as investment and deployment issues are expected to impede the growth of the mobile wallet market. Although these restraints are prevalent, companies from the telecommunication industry are collaborating with each other to better serve the needs of their customers with new and improved product/service innovation.
Segmentation Overview
The global mobile wallet market has been segmented in this report as per applications, mode of payment, stakeholders and geography. The global mobile wallet applications market includes mobile commerce, mobile ticketing, mobile coupons, mobile transfer, and micropayments. On the basis of mode of payment, the global mobile wallet market is categorized into remote payment and NFC payment. The NFC market is further sub-segmented into NFC handsets, NFC chips and tags, NFC readers, NFC Micro SD, and NFC SIM/UICC card. The global mobile wallet market stakeholders encompass mobile network operators (MNOs), handset manufacturers, OSS/BSS solution providers, software developers, content applications and aggregators, and other stakeholders. The global mobile wallet market in terms of geography covers North America, Europe, Asia-Pacific and rest of world (ROW).
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Mobile wallet market based on the mode of payment is currently led by remote payment method. This is largely due to significant reach of the remote payment methods and relative infancy of NFC technology. The number of consumers using their tablets and smartphones as their regular Internet gadget are increasing tremendously. Besides this, a mobile wallet supporting remote payment transactions allows unbanked/under-banked consumers to make use of mobile commerce through their mobile computing devices.
TOP FACTORS IMPACTING WORLD MOBILE WALLET MARKET
The world mobile wallet market is influenced by numerous factors including realization of the significance of payment-enabled mobile phones, connected and real-time marketing, value-added services and other benefits and convenience, security concerns, and compatibility & cost. These factors collectively create opportunities for the market growth, whereas some of them hamper the market growth. However, each factor would have its definite impact on the market during the forecast period.
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Connected and Real-Time Marketing
Mobile wallet offers an entirely new dimension to retail sales to improve their business presence. While mobile devices provide consumers with an easy way to make payments, they act as a new channel for merchants and financial institutions to connect with their customers. Information can be easily sent and received via mobile devices; they also run specialty applications, and are location-aware. The mobile connection facilitates merchants and financial institutions to communicate information such as promotional offers with their customers in such a way that the information is targeted, useful, and more relevant to their interests. Businesses can also come up with new branded applications that are freely downloadable. As unique shopping preferences and needs of a person are tracked, this aspect can make customer communications highly personalized. Such a connected and real-time marketing offers a new opportunity and competitive challenge to marketers.
Accessibility
Wide adoption of smartphones indicates the accessibility level for mobile wallet. Smartphone users are able to make the most of the mobile wallet functionalities, and it is expected that more such users will come up in the next few years owing to plenty of benefits that mobile wallet provides.
KEY BENEFITS
- The report provides a comprehensive analysis of the world mobile wallet market with current trends and future growth opportunities, challenges, and competitive scenario.
- The current market trends are quantitatively analyzed and estimated for the period 2012‐2020, which have been provided to highlight the financial competency of the market.
- Porter’s five forces analysis provides inputs on the potential of buyers and suppliers and highlights the competitive structure of the market, which is likely to enable market players to devise effective growth strategies and facilitate better decision-making.
- Value chain analysis provides key inputs on the role of different stakeholders involved at various stages.
- SWOT analysis of the key market players highlights the essential strengths and potential opportunities in the market.
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