Selbyville, Delaware, May 10, 2021 (GLOBE NEWSWIRE) -- As cited by seasoned experts, Europe mobile wallet market size valuation is expected to surpass the USD 60 billion mark by 2026. In terms of transaction volume is anticipated to account for more than 20 billion with a worth of USD 500 billion by the end of forecast duration.
The unanticipated advent of the Covid-19 pandemic has limited the global economy, barricading profit generation as well as industry expansion by disrupting the entire supply chain. The holistic analysis of the report aims to respond to all potential contingencies, while suggesting robust business strategies and tactical plans of action for industry participants and stakeholders to maintain their revenue inflows.
Lucrative growth of Europe mobile wallet market can largely be attributed to recent digital disruption, along with shifting preference of millennials for digital payments over conventional banking approaches.
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Additionally, increasing availability of VoLTE (Voice over Long-Term Evolution) network services, rising penetration of cost-effective smartphones, and introduction of new proprietary mobile wallet applications by banks and technology develops are further propelling the overall industry expansion.
Outlining market segmentations
Based on product type, Europe mobile wallet marketplace is divided into closed, semi-closed, and open. Among these, closed segment is slated to register a robust CAGR of 20% over 2020-2026, on account of growing investments by e-commerce companies for the rollout of their product offerings.
With regards to ownership, tech companies segment captured more than 65% of the overall market share in 2019 and is predicted to amass substantial gains during the analysis timeframe. Rising investments of technology-based companies towards mobile wallet technology, along with increasing smartphone penetration are fostering the growth of the segment.
Speaking of technology type, the vertical comprises of text-based, optical/QR code, digital only, and Near Field Communication (NFC). As per the findings of the report, the Near Field Communication (NFC) segment is estimated to expand with a 23% CAGR through 2026, owing to growing adoption of contactless payment methods. High levels of security offered by NFC based wallets is further stimulating popularity of technology.
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Competitive dashboard
Organizations which boast of a commanding status in Europe mobile wallet market are Amazon.com Inc., Ant Group, Samsung Electronics Co. Ltd., American Express Company, PayPal Holdings Inc., Allied Wallet Inc., AT&T Inc., Tencent Holdings Limited., Apple Inc., Barclays plc, Vodafone Group plc, First Data Corporation, Due Inc., Google LLC, Mastercard Incorporated, J.P. Morgan Chase & Co., Skrill Ltd., Visa Inc., and Wells Fargo & Company.
Europe Mobile Wallet Market by Product Type (Revenue, USD, 2015-2026)
- Closed
- Semi-closed
- Open
Europe Mobile Wallet Market by Ownership Scope (Revenue, USD, 2015-2026)
- Tech Companies
- Device
- Telco’s
- Banks
Europe Mobile Wallet Market by Technology Spectrum (Revenue, USD, 2015-2026)
- Text-based
- Optical/QR code
- Digital Only
- Near Field Communication (NFC)
Europe Mobile Wallet Market Regional Outlook (Revenue, USD, 2015-2026)
- Russia
- France
- Spain
- Netherlands
- Italy
- Germany
- United Kingdom
Europe Mobile Wallet Market Competitive Analysis (Revenue, USD, 2015-2026)
- Amazon.com Inc.
- Ant Group
- American Express Company
- Tencent Holdings Limited
- Allied Wallet Inc.
- Vodafone Group plc
- AT&T Inc.
- Apple Inc.
- Barclays plc
- First Data Corporation
- Due Inc.
- Google LLC
- Wells Fargo & Company
- Mastercard Incorporated
- J.P. Morgan Chase & Co
- PayPal Holdings Inc.
- Skrill Ltd.
- Visa Inc.
- Samsung Electronics Co. Ltd.
Table of Content:
Chapter 1 Methodology & Scope
1.1 Research methodology
1.2 List of data sources
1.2.1 Secondary
1.2.2 Primary
Chapter 2 Market Snapshot
2.1 Europe mobile wallet market snapshot, 2015-2026
Chapter 3 Europe Mobile Wallet Trends
3.1 Industry coverage
3.2 Industry size, 2015 -2026
3.3 Impact of COVID-19
3.4 Value chain analysis
3.4.1 Company product snapshot
3.5 Innovation landscape
3.6 Regulatory norms & directives
3.7 Drivers & restraints
3.7.1 Growth drivers
3.7.1.1 Market drivers
3.7.1.2 Market restraints
3.8 Industry analysis -Porter's five forces
3.9 Competitive benchmarking, 2019
3.9.1 Strategy dashboard
3.10 PEST analysis
Chapter 4 Europe Mobile Wallet Market Size, By Type
4.1 Market trends, by type
4.2 Open
4.2.1 Market estimates and forecast, 2015-2026
4.3 Semi-closed
4.3.1 Market estimates and forecast, 2015-2026
4.4 Closed
4.4.1 Market estimates and forecast, 2015-2026
Chapter 5 Europe Mobile Wallet Market Share, By Ownership
5.1 Market trends, by ownership
5.2 Banks
5.2.1 Market estimates and forecast, 2015-2026
5.3 Telco's
5.3.1 Market estimates and forecast, 2015-2026
5.4 Device
5.4.1 Market estimates and forecast, 2015-2026
5.5 Tech companies
5.5.1 Market estimates and forecast, 2015-2026
Chapter 6 Europe Mobile Wallet Market Report, By Technology
6.1 Market trends, by technology
6.2 Near Field Communication (NFC)
6.2.1 Market estimates and forecast, 2015-2026
6.3 Optical/QR code
6.3.1 Market estimates and forecast, 2015-2026
6.4 Digital only
6.4.1 Market estimates and forecast, 2015-2026
6.5 Text-based
6.5.1 Market estimates and forecast, 2015-2026
Chapter 7 Europe Mobile Wallet Market Growth, By Region
Related Report:
Mobile Wallet Market Size, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 - 2026
The mobile wallet market is likely to gain substantial momentum over the coming years owing to rising penetration of smartphones, extensive usage of NFC based mobile wallets, and increasing mobile based payments across the globe. Mobile wallet, also known as mobile money transfer or mobile money, refers to a kind of payment service through which users can receive as well as send money through mobile devices. Mobile wallet stores loyalty card numbers, debit card numbers, and credit card numbers. In comparison to other methods, mobile wallet is much safer and convenient payment method and is also easily accessible, which make it easier for consumers to make payments. With respect to ownership, the mobile wallet market is classified into tech companies, device manufacturers, telecom operators, and banks. Among these, telecom operators segment is likely to exhibit a CAGR of more than 15% over the forecast time frame. The segmental growth is majorly ascribed to the increasing investment of telecom companies in mobile payment technologies.
From a regional frame of reference, Latin America mobile wallet market is anticipated to witness a respectable CAGR of more than 15% over the forecast time period. This anticipated growth is ascribed to the rising penetration of smartphones and increasing mobile based payments across the region.
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