Global market for mobile wallet technologies to reach $665.1 billion in 2017

The relative gulf between the concept of mobile payment and its realization in the marketplace has finally been bridged by recent advancements in mobile technology, including smartphones and other mobile devices, particularly in the financial service sectors. Moreover, service providers are collaborating to provide one-stop solutions to the greatest challenges of mobile wallets with respect to standardization, privacy, and security. Advances in mobile technology and increasing adoption of the technology by consumers and business will drive tremendous growth in this market for the foreseeable future.

BCC Research provides an in-depth analysis of the global market for mobile wallet technologies through its report, Mobile Wallet Technologies: Global Markets. According to the report, this market was valued at $4.1 billion in 2011 and reached $8 billion in 2012. BCC Research projects the market to grow to $665.1 billion by 2017, and register a five-year compound annual growth rate (CAGR) of 142.1% from 2012 to 2017.

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Use this report for, but not limited to, the following reasons:

• Gain an overview of the global mobile wallet market
• Analyze global market trends, with data from 2011 and 2012, and projections of compound annual growth rates (CAGRs) through 2017
• Examine supporting equipment and technologies, including RFID, smartphones, and 4G technology
• Understand payment framework and challenges, and legislation and regulatory framework for devices and technologies
• Assess technologies, such as mobile commerce, mobile payments (taxis, hotels, phone bills and others, and entertainment events), premium messages, mobile Web payments, near-field communication (NFC), cloud computing, and social media
• Review comprehensive company profiles of major players

SAMPLE FIGURE

GLOBAL MOBILE WALLET MARKET BY APPLICATIONS, 2011-2017

($ MILLIONS)

 

Click here to Order your copy of this report (or any of its chapters) or to download the Complimentary Introduction chapter.

Global market for mobile wallet technologies to reach $665.1 billion in 2017

The relative gulf between the concept of mobile payment and its realization in the marketplace has finally been bridged by recent advancements in mobile technology, including smartphones and other mobile devices, particularly in the financial service sectors. Moreover, service providers are collaborating to provide one-stop solutions to the greatest challenges of mobile wallets with respect to standardization, privacy, and security. Advances in mobile technology and increasing adoption of the technology by consumers and business will drive tremendous growth in this market for the foreseeable future.

BCC Research provides an in-depth analysis of the global market for mobile wallet technologies through its report, Mobile Wallet Technologies: Global Markets. According to the report, this market was valued at $4.1 billion in 2011 and reached $8 billion in 2012. BCC Research projects the market to grow to $665.1 billion by 2017, and register a five-year compound annual growth rate (CAGR) of 142.1% from 2012 to 2017.
 
RSS Feeds – Information Technology

Use this report for, but not limited to, the following reasons:

• Gain an overview of the global mobile wallet market
• Analyze global market trends, with data from 2011 and 2012, and projections of compound annual growth rates (CAGRs) through 2017
• Examine supporting equipment and technologies, including RFID, smartphones, and 4G technology
• Understand payment framework and challenges, and legislation and regulatory framework for devices and technologies
• Assess technologies, such as mobile commerce, mobile payments (taxis, hotels, phone bills and others, and entertainment events), premium messages, mobile Web payments, near-field communication (NFC), cloud computing, and social media
• Review comprehensive company profiles of major players

SAMPLE FIGURE

GLOBAL MOBILE WALLET MARKET BY APPLICATIONS, 2011-2017

($ MILLIONS)

Click here to Order your copy of this report (or any of its chapters) or to download the Complimentary Introduction chapter.

Global Market for Mobile Wallet Technologies to Reach $665 Billion in 2017

The key objective of the mobile wallet is to facilitate a user with an electronic wallet in which all the contents of a real wallet such as cash and cards are electronically available at any time and anywhere. The most important driver for money transfers through a mobile wallet is the transfer without the need of Internet (typical Internet-enabled desktops or laptops). This increases the accessibility of such a facility to the rural segment and also individuals who do not hold bank accounts.

A business module is the major driver adopted in the mobile wallet system. This module requires few changes involved in technological infrastructure; new internal controls and training must be monitored and designed. The various players in a business module could be mobile operator-centric, bank-centric, hybrid collaborative, or independent service provider. Analyzing, creating and delivering new services for customer satisfaction can drive a mobile operator to see profits and bring in new customers.

For both business-to-customer (B2C) and business-to-business (B2B) activities, customer relation management (CRM) should provide technological infrastructure to detect and rectify risk factors, liabilities, and responsibilities related to mobile payment customer grievances while handling cross-organizational and cross-platform transactions in a business module.

The Asia-Pacific region generates the highest revenues from the mobile wallet and will continue to grow at the highest rate during the forecast period. The increased penetration levels of smartphones combined with the convenience of processing low-cost and high-volume transactions through the mobile wallet is expected to drive the market growth in this region at a very significant rate.

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The key goals of Mobile Wallet Technologies: Global Markets (IFT070A) are:

• To identify and categorize key market segments with respect to mobile wallet market technologies, products, and stakeholders
• To identify and evaluate key market dynamics and respective impacts across geographies
• To derive forecast figures for key markets from 2011 through 2017
• To identify and investigate key opportunities securing growth in a competitive environment
• To provide intense market intelligence through effective analysis of recent merger-and-acquisition (M&A) and joint-venture (JV) activities along with other developments among the key market participants
• To identify and analyze geography-specific trends
• To profile top companies in the industry.

To provide further information about this report we offer a Complimentary Introduction, available from our Website. To download, simply click here, go to the Table of Contents tab, add the complimentary introduction to your cart, and confirm your order.