Global Mobile Wallet Market to Reach $1.6 trillion by 2018
Sept. 25, 2014
A new report has predicted the size of the mobile wallet market to reach more than $1.6 trillion by the end of 2018. "Mobile Wallet Market – Global Industry Analysis, Size, Share, Growth and Forecast, 2012 2018" said m-commerce will be the leading segment of the market until 2020, when it will be overtaken by mobile money transfer and mobile ticketing. From 2012 to 2018, the mobile wallet market will experience a compound annual growth rate of nearly 31 percent. Retail represents that largest use case for mobile wallets, but the report also found mobile wallets will be heavily used in the vending space as well.
Geographically, the report found, EMEA is expected to be the largest market for mobile wallets in 2018. Asia-Pacific will experience the fastest growth over the next four years at an expected CAGR of 31 percent. The report said growth in these regions could be attributed to rising public acceptance of mobile wallets in Europe and overall population density in Africa.