Mobile wallets are electronic accounts that can be operated through cellphones and are based on the NFC technology. Mobile Wallet market in Europe to grow at a CAGR of 32.87% over the period 2014-2019. They help account holders pay their bills or make purchases on the go. Mobile wallets have revolutionized the Digital Payments industry. Increased adoption of smartphones, tablets, and other mobile technologies has changed the way customers make their payments. Before the advent of smartphones, Java-enabled and internet-based phones were used sparingly because the usage was limited to SMS and calling options. Notably, carrier charges were high during that time, which had resulted in lesser usage among customers.
“Unlike other technological services, mobile wallet service and delivery varies significantly from region to region,”.
“It is vital for service providers to have flexible business and operating models to cater to evolving customer demands, adapt to local market conditions, and cope with shifting regulatory imperatives.”
Covered in this Report
This report covers the present scenario and the growth prospects of the Mobile Wallet market in Europe during the period 2015-2019. To calculate the market size, the report considers the total revenue generated from retail transactions sourced through mobile devices. These transactions include mobile commerce transactions, mobile ticketing, mobile coupons, money transfer, and micropayments.
Mobile Wallet Market in Europe 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the landscape of the Mobile Wallet market in Europe and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.
Key Market Drivers
Increased Collaboration among Mobile Operators
Increased Service Offerings
Emergence of Sophisticated Services
Convenience of Transactions
Key Market Trends
Increased Use of M-commerce
Interoperability among Stakeholders
Flexible Business Models
Increased Dependence on Mobile Phones
Enhanced Client Confidence in Mobile Wallets
To define the market circumstances in the next 3-4 years, Our analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.