Mobile wallets are electronic accounts that enable people to manage their bank accounts through their cell phones. Their working is based on the NFC technology. They are considered a revolutionary trend in the Digital Payments industry. One can make bill payments and online purchases, while on the go. Increased adoption of smartphones, tablets, and other mobile technologies has transformed the ways in which customers make payments. Java-enabled and internet-based phones were used sparingly before the advent of smartphones because their usage was limited to SMS and calling options. Carrier charges were high during that time, which had led to reduced usage of mobile wallet services. In recent times, high competition in the Telecom market and an increase in adoption of smartphones and value-added services have propelled overall market growth considerably.

Global Mobile Wallet Market 2016 report has Forecasted Compound Annual Growth Rate (CAGR) in 36.8% value for particular period, that will help user to take decision based on futuristic chart. Report also includes key players in global Mobile Wallet market.

The market report, titled Mobile Wallet Market 2016, is an analytical research done by QY Market Research study based on the Mobile Wallet market, which analyzes the competitive framework of the Mobile Wallet industry worldwide. This report “Worldwide Mobile Wallet Market 2016” build by the usage of efficient methodical tools such SWOT analysis, the Mobile Wallet industrial 2016 study offers a comprehensive evaluation worldwide Mobile Wallet market.

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About the Report

The latest report highlights the fact that mobile wallets eliminate the need to carry physical wallets while on the go. Mobile wallets ensure more security than cards or carrying cash, especially when traveling, and also offer many other benefits like remote locking, data encryption, memory protection and password control.

“With mobile wallets, the cash is stored on the mobile device, which bypasses the bank in the transaction and reduces the transaction failure rate significantly,”.

The Mobile Wallet market size is estimated in terms of revenue (US$) and production volume in this report. Whereas the Mobile Wallet market key segments and the geographical distribution across the globe is also deeply analyzed. Various Mobile Wallet market dynamics such as growth drivers, restrictions, and the future prospects of each segment have been discussed in detail. Based on that, the Mobile Wallet market report determines the future status of the market globally.

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Covered in this Report

This report covers the present scenario and the growth prospects of the Global Mobile Wallet market for the period 2015-2019. To calculate the market size, the report considers the total revenue generated from retail transactions. These transactions include mobile commerce transactions, mobile ticketing and purchase of mobile coupons, money transfer, and micropayments.

Global Mobile Wallet Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. It also covers the market landscape and lists growth prospects. The report includes a discussion of the key vendors operating in this market.

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Furthermore, the report emphasizes the increased awareness about mobile wallets among consumers, which is expected to help sustain market projections through the forecast period. The average consumer is becoming savvier with regards to NFC, and other technology necessary for mobile wallet-based transactions.

“Increased awareness and the overall convenience of the technology is expected to increase the adoption of m-commerce, thus leading overall growth in the Global Mobile Wallet Market in the coming years,”

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The results of new research from the University of Toronto looked into the top three applications.

The outcome of a new study, conducted by the University of Toronto, has revealed that the three most downloaded mobile apps for fitness tracking aren’t nearly as accurate as their users likely believe them to be.

The U of T study indicated that fitness apps have a notably lower accuracy rate than regular pedometers.

When it comes to measuring how much a person walks in a day, standard pedometers were found to be considerably more accurate than the top three downloaded mobile apps that are meant to be used for the same purpose. This is concerning as those applications have been increasing in their popularity and are used by people who are attempting to motivate themselves to reach a more healthful physical activity level every day.

While messaging mobile apps remain the most popular, health and fitness applications have high engagement rates.

In fact, a Flurry Analytics survey conducted last September on behalf of Yahoo Canada actually showed that health and fitness apps scored higher on their engagement rate. It is estimated that they are on 11 percent of smartphones. There may be fewer of them than messaging apps, but they cause greater engagement with their users than those more popular rivals.

Due to this high engagement rate, it has made this type of mobile application extremely appealing to companies of all sizes. Everyone from giants to tiny startups are trying to carve out a piece of the market for themselves.

Unfortunately, in this haste to take part, it doesn’t look as though all the participants are taking the care that would be required to make sure their mobile apps are as accurate for users as the main alternative – using a traditional pedometer. The apps that were considered by the study included Moves, Runtastic and Accupedo. The authors of the report stated that “the most commonly downloaded smartphone applications are neither valid nor consistent in measuring step counts.” Several tests were run on both Android and Apple devices in order to allow the researchers to come to this conclusion.