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Abstract, Snapshot, Market Analysis & Market Definition: Asia Pacific Mobile Wallet Market Industry / Sector Trends Asia Pacific Mobile Wallet Market valued at over USD 35 billion in 2017 and is anticipated to grow at a CAGR of more than 20% from 2018 to 2024. India Mobile Wallet Market Share, By Type, 2017 The surge in the number of smartphone users and internet penetration is driving the use of the mobile wallet market in the APAC region. In the last decade, there had been an extensive adoption of various smart devices due to advances in the connectivity infrastructure in the region. In 2017, the region had over 1.90 billion internet users accounting for over half of the global internet population, among which over 70% were smartphone users. The increasing penetration of smartphones has brought about a fundamental shift in the way users are conducting their financial transactions due to its cost-effectiveness and convenience. This is promoting financial establishments and tech players to invest in various mobile wallet applications to capitalize on the growing demand for mobile payment services. Market Segmentation, Outlook & Regional Insights: Asia Pacific Mobile Wallet Market Asia Pacific Mobile Wallet Market, By Type The semi-closed mobile wallet market is anticipated to grow at a CAGR of over 18% over the forecast timeline due to the rise in the number of mobile wallet product offerings by tech players. This is credited to the shifting customer preferences toward mobile payment applications. The population within the age of 16 to 34 (millennials) prefer a bank-free existence in the future as they are increasingly tech-savvy and habituated to digital financial services offered by technology players. Asia Pacific Mobile Wallet Market, By Ownership The banks market is expected to register a growth rate of more than 17% over the forecast timeframe. The banking organizations are launching their own mobile wallets to monetize on myriad opportunities to upsell and cross-sell their financial services & policies. It also provides them with actionable insights to better understand customer preferences, helping them offer a tailor-made banking experience for their customers. The telco industry is anticipated to witness a CAGR of over 20% over the projected timeline. The rising number of partnerships among mobile networks and card issuers is spurring the growth of the telco-based mobile wallet market. The tech companies accounted for over 70% of the revenue share in the Asia Pacific mobile wallet market in 2017. The tech enterprises including Flipkart, Uber, Ola, and MakeMyTrip have been increasingly investing in developing their own mobile wallets to offer a seamless banking experience to their customers. The players are leveraging on their tech infrastructure to build new & innovative product offerings for their users. Moreover, the supportive regulatory framework is further supplementing the growth of the market. Asia Pacific Mobile Wallet Market, By Technology The optical/QR market is forecast to grow at a CAGR of over 17% during the projected time period. The inexpensive nature of mobile wallet applications is encouraging its use in the region as the technology does not incur any added costs apart for a smartphone. This has been the primary factor, which has been supplementing its adoption in countries, such as Thailand, Indonesia, and the Philippines, where the retail outlets do not have access to the point-of-sale infrastructure. Japan Mobile Wallet Market Revenue, By Technology, 2017 & 2024 Asia Pacific Mobile Wallet Market, By Region China dominated the Asia Pacific mobile wallet market with over 95% share in 2017. This is attributed to the presence of numerous e-commerce platforms and a high degree of smartphone penetration in the country. Large players, such as Tencent, Alibaba, and Baidu, are forming tie-ups with various retail outlets and online platforms to increase the availability of product offerings across various channels. For instance, in May 2015, Tencent partnered with Didi, a taxi hailing application, to facilitate in-app payments for its customers for Didi rides. This partnership with Didi opened a broader universe of payment partners for the WeChat application, enabling in-app payments for everything from cell phone bills to utility fees. Key Players, Recent Developments & Sector Viewpoints: Asia Pacific Mobile Wallet Market The players operating in the Asia Pacific mobile wallet market landscape are Tencent Holdings, Apple, PayPal, Samsung, One97 Communications Limited, Vodafone, Amazon, Google, Ant Financial, Union Pay, and Rakuten. The companies present in the market are adopting inorganic growth strategies to develop a diversified & robust partnership network with associations and cooperative financing organizations, allowing them to penetrate various regional markets. For instance, in January 2019, Union Pay expanded its network of countries, accepting mobile payments, from its base of outbound Chinese travelers to over 46 countries. The additional features have allowed Chinese tourists to use the company’s mobile payment service across various overseas regions. Industry Viewpoint As the digitalization across the industries rising, the banking sector is also going through a phase of digital disruption. the market dynamics are changing and customers ae gaining more power over the organization. The emergence of the fintech companies and the increasing competition among the financial institutes is forcing financial institutes to provide better customer experience. As a result, these players are focusing on developing more customer centric product Key Insights Covered: Exhaustive Asia Pacific Mobile Wallet Market 1. Market size (sales, revenue and growth rate) of Asia Pacific Mobile Wallet industry. 2. Global major manufacturers' operating situation (sales, revenue, growth rate and gross margin) of Asia Pacific Mobile Wallet industry. 3. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Asia Pacific Mobile Wallet industry. 4. Market size (sales, revenue) forecast by regions and countries from 2019 to 2025 of Asia Pacific Mobile Wallet industry. Research Methodology: Asia Pacific Mobile Wallet Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
- Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
- Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.
1 Report Overview 1.1 Research Scope 1.2 Major Manufacturers Covered in This Report 1.3 Market Segment by Type 1.3.1 Global Asia Pacific Mobile Wallet Market Size Growth Rate by Type (2019-2025) 1.4 Market Segment by Application 1.4.1 Global Asia Pacific Mobile Wallet Market Share by Application (2019-2025) 1.5 Study Objectives 1.6 Years Considered 2 Global Growth Trends 2.1 Production and Capacity Analysis 2.1.1 Global Asia Pacific Mobile Wallet Production Value 2014-2025 2.1.2 Global Asia Pacific Mobile Wallet Production 2014-2025 2.1.3 Global Asia Pacific Mobile Wallet Capacity 2014-2025 2.1.4 Global Asia Pacific Mobile Wallet Marketing Pricing and Trends 2.2 Key Producers Growth Rate (CAGR) 2019-2025 2.2.1 Global Asia Pacific Mobile Wallet Market Size CAGR of Key Regions 2.2.2 Global Asia Pacific Mobile Wallet Market Share of Key Regions 2.3 Industry Trends 2.3.1 Market Top Trends 2.3.2 Market Drivers 3 Market Share by Manufacturers 3.1 Capacity and Production by Manufacturers 3.1.1 Global Asia Pacific Mobile Wallet Capacity by Manufacturers 3.1.2 Global Asia Pacific Mobile Wallet Production by Manufacturers 3.2 Revenue by Manufacturers 3.2.1 Asia Pacific Mobile Wallet Revenue by Manufacturers (2014-2019) 3.2.2 Asia Pacific Mobile Wallet Revenue Share by Manufacturers (2014-2019) 3.2.3 Global Asia Pacific Mobile Wallet Concentration Ratio 3.3 Asia Pacific Mobile Wallet Price by Manufacturers 3.4 Key Manufacturers Asia Pacific Mobile Wallet Plants/Factories Distribution and Area Served 3.5 Date of Key Manufacturers Enter into Asia Pacific Mobile Wallet Market 3.6 Key Manufacturers Asia Pacific Mobile Wallet Product Offered 3.7 Mergers & Acquisitions, Expansion Plans 4 Market Size by Type 4.1 Production and Production Value for Each Type | read more...