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Mobile Wallet Market Transaction Value to reach $72.95 Trillion By 2026 Growing at 10.5% CAGR | GlobalData Plc

May 19, 2023
5 Min Read

The mobile wallet market transaction value is expected to reach $72.95 trillion in 2026, according to a new report by GlobalData Plc. Increasing smartphone penetration coupled with growing internet adoption across the globe is anticipated to drive the mobile wallet market growth over the forecast period. Additionally, ease of transaction offered by mobile wallets makes them a preferred choice amongst customers.

Mobile Wallet Market Share By Region, 2019 – 2026

Mobile wallet market outlook report with detailed regional analysis is available with GlobalData Now! Read our Sample Report!

Mobile Wallet Market FAQs

  • What was the global mobile wallet market size in 2023?

The mobile wallet market transaction value globally is estimated to be valued at $54.01 Trillion in 2023.

  • What is the mobile wallet market growth rate?

The global mobile wallet market is expected to grow at a CAGR of 10.6% over the forecast period (2023-2026).

  • What are the key mobile wallet market driver?

Factors such as inclination towards convenience, growing e-commerce transactions, and growing adoption contactless payments are some of the major factors driving the market growth.

  • Which are the leading mobile wallet companies globally?

The leading mobile wallet companies are Alibaba Group Holding Ltd, Apple Inc, Google LLC, Huawei Technologies Co Ltd, Kakao Pay Corp, Mercado Libre Inc, PayPal Holdings Inc, and Samsung Electronics Co Ltd.

For more mobile wallet market queries, download our sample report

Mobile Wallet Market Dynamics

Over the past five years, with further acceleration due to the COVID-19 pandemic, mobile wallets have become a preferred mode of payment worldwide. Consumers have been able to derive numerous benefits from mobile payments, such as convenience, eliminating the need to carry cards/cash, and contactless payments, thereby making day-to-day transactions easier.

However, fear around security of wallet transactions is widespread and act as a significant barrier to the pervasive adoption of mobile wallets. Fueled by fear of data breaches, individuals are concerned about the possibility of payment frauds. However, as more companies offer services that provide protection to consumer’s personal data, the adoption of mobile wallets is anticipated to grow in the coming years.

Learn about the mobile wallet market dynamics by viewing report sample right here!

Mobile Wallet Market Report Highlights

  • The mobile wallet market transaction value is projected to witness a CAGR of 10.5% from 2023 to 2026 owing to factors such as inclination towards convenience, growing e-commerce transactions, and growing adoption contactless payments are some of the major factors driving the market growth.
  • Asia Pacific market is anticipated to grow at a CAGR of over 10% over the forecast period. Large population with increasing smartphone usage, government initiatives, and growing digital economy, among others are the factors promoting regional growth.
  • China is the leading market in terms of volume of transaction, not just in Asia Pacific but across the globe.
  • Companies operating in the mobile wallet space are offering advanced solutions to improve convenience of mobile payments. For instance, mobile payments without internet connectivity is expected to revolutionize the payments industry.
  • The leading mobile wallet companies are Alibaba Group Holding Ltd, Apple Inc, Google LLC, Huawei Technologies Co Ltd, Kakao Pay Corp, Mercado Libre Inc, PayPal Holdings Inc, and Samsung Electronics Co Ltd.

Unlock additional market dynamics impacting the mobile wallet market growth by requesting a sample PDF

Mobile Wallet Market Scope

GlobalData Plc has segmented the mobile wallet market report by region:

Global Mobile Wallet Regional Outlook (Transaction Value, $ Billion; Transaction Volume, Billion, 2019-2026)

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Rest of Asia Pacific
  • South & Central America
    • Argentina
  • Middle East & Africa
    • Bahrain
    • Egypt
    • Rest of Middle East & Africa

Get additional segment-wise and regional insights as you grab your sample report copy!

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About us

GlobalData is a leading provider of data, analytics, and insights on the world’s largest industries. In an increasingly fast-moving, complex, and uncertain world, it has never been harder for organizations and decision-makers to predict and navigate the future. GlobalData’s mission is to help our clients to decode the future and profit from faster, more informed decisions. As a leading information services company, thousands of clients rely on us for trusted, timely, and actionable intelligence. Our solutions are designed to provide a daily edge to professionals within corporations, financial institutions, professional services, and government agencies.

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