This report analyzes the global e - wallet market by application (restaurants, transportation, banking, retail), by type (closed e wallets, semi closed e wallets, open e wallets), by mode (online, m -wallet); it also studies the top manufacturers in the market.
The global e - wallet market is projected to reach USD 2,100 billion, at a CAGR of 15% by the end of forecast period 2017-2023.
The major players in global e - wallet market include:
- Alibaba Group Holding Ltd. (China)
• Apple, Inc. (U.S.)
• Citrus Payment Solutions (India)
• Google, Inc. (U.S.)
• MasterCard (U.S.)
• Oxigen Services India Pvt. Ltd (India)
• PayPal Holdings (USA)
• Samsung Electronics Inc. (South Korea)
• Visa (USA)
The market revenue and share have been analyzed with respect to the following regions and countries
Americas
North America
U.S.
Canada
Mexico
Europe
U.K.
France
Germany
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
Rest of the World
On the basis of application, the global e - wallet market has been categorized into the following segments
Restaurants
• Transportation
• Banking
• Retail
On the basis of type, the global e - wallet market has been categorized into the following segments:
- Closed E Wallets
• Semi closed E Wallets
• Open E Wallets
On the basis of mode, the global e - wallet market has been categorized into the following segments:
- Online
• M -wallet
Research Methodology
Market Research Future analysis is conducted by industry experts who offer insight into industry structure, market segmentation, technology assessment, competitive landscape (CL), and market penetration, as well as on emerging trends. Besides primary interviews (~80%) and secondary research (~20%), their analysis is based on years of professional expertise in their respective industries. Our analysts also predict where the market will be headed in the next five to 10 years, by analyzing historical trends and current market positions. Furthermore, the varying trends of segments and categories in different regions are estimated based on primary and secondary research.
Both the top-down and bottom-up approaches were used to estimate and validate the size of the market and to estimate the size of various other dependent sub-markets. The key players in the market were identified through secondary research, and their market contributions in the respective regions were determined through primary and secondary research. This entire process included the study of the annual and financial reports of the top market players and extensive interviews for key insights with industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. All the possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to arrive at the final quantitative and qualitative data. This data has been consolidated, and detailed inputs and analysis by Market Research Future added before being presented in this report.
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Market Synopsis:With the emergence of e-commerce and online purchases, the procedure required for the payment system is also changing, forcing it to go digital due to which users migrated from cash payments to plastic card payments and now to contactless payments.
Since the scenario is still evolving a wide variety of names are used for such transactions such as e-money, digital money, micro-payments and many others.Many E- wallet services like paytm & free charge work through apps in smart phone.
Further, E-Wallet allows you to store multiple credit card and bank account numbers in a secure environment and eliminate the need to enter in account information during money transactions.
Placing smart phone within four inches of pay pad or contact less reader will prompt wallet or passbook for payment confirmation.Further, as per industry developments, In July 2017, Axis Bank acquired free charge e-commerce Company offering digital transactions.
The endless opportunities in this field inviting more players to invest in E-Wallet Market.The global E-wallet market is expected to grow at CAGR of 15% and estimated to reach market size of approximately USD 2,100 billion by the end of forecast period 2017-2023.Key Players:Market Research Future study identifies Alibaba Group Holding Ltd. (China), Apple, Inc. (U.S.), Citrus Payment Solutions (India), Google, Inc. (U.S.), MasterCard (U.S.), Oxigen Services India Pvt.
Ltd (India), PayPal Holdings (USA), Samsung Electronics Inc. (South Korea), and Visa (USA) as the key vendors in the global E-wallet market.Segments:For the purpose of this study, Market Research Future has segmented the Global E wallet market by type, by mode, by application and by region.By Type:Closed e-walletsSemi closed e-walletsOpen e-walletsBy Mode:Online PaymentM-wallet ( Mobile wallet )By Application:RetailTransportationEntertainmentBankingOthersBy Region:North AmericaEuropeAsia pacificRest of the world (ROW)Intended AudienceService providersSoftware DevelopersIT enablersCloud providersBanksStorage ProvidersSoftware InvestorsDatabase solutionsRegional Analysis:Geographically, North America followed by Europe formed some of the major regions contributing to the market growth.
The must-have features in an E-Wallet App that can help users to make online payments easy and be used for much more than just payments, making it the best digital wallet.
As a result, further advances are now being aided by payment processing, and ePayment apps are coming to the forefront.
The success of ePayment apps like Paytm, Paypal, Venmo, PhonePe, MobiKwik, and several others continues to inspire other digital companies to follow suit.
More innovative and functionally superior e-wallet apps boast advanced technologies like Near Field Communication, Bluetooth, Beacon, QR code scanning, and Blockchain.
User-centric featuresAdministration panel featuresValue-added featuresUser-focused features These features essentially define and describe the user experience and user interactions in eWallet applications.
Managing user profilesThe eWallet administrator also manages the user profile and all transactions made through the eWallet daily.
Secondly, it facilitates the transaction by connecting to an NFC terminal or similar payment processing systems.
