The North America Mobile Wallet Market would witness market growth of 26.5% CAGR during the forecast period (2022-2028).
Due to its simplicity in enabling online bill payments and other money transfer services, mobile wallets are becoming extremely popular all over the world. Additionally, the usage of these modern instruments enables quick and safe transactions. These advantages of utilizing a mobile wallet have led to an increase in the use of these products. Over the forecast period, this factor is anticipated to create lucrative opportunities in the mobile wallet market. Users of mobile wallets can transfer and accept funds with ease owing to the user-friendly UI. Individuals who use mobile wallets can finish their transactions even while on the go due to the user-friendly UI. These functions are anticipated to aid in the quick uptake of such apps.
Consumer-business interactions are increasingly occurring online. Businesses are adapting the way they run to meet the constantly changing needs of their customers and their usage of mobile phones as well as devices, from e-commerce websites to robo-advisors. Businesses that only provide digital solutions and platforms are known as new fintech members. These businesses produce innovative products and services that are inexpensive and readily available. Some of the most significant developments have been in the payments industry specifically. Utilizing tools like mobile wallets, businesses and customers are adjusting to both online and offline transactions.
The far more prevalent credit card-based payment options in Canada are MasterPass, Interac Online, and PayPal. However, certain online retailers also provide the option of prepaid card or prepaid voucher. When it came to eCommerce transactions in 2020, credit cards accounted for 55% of all transactions. With about 25% of the market, digital wallets came in second. In accordance with a survey conducted in 2020, Canadian consumers have been involved in using Buy Now, Pay Later (BNPL) payment methods for their online purchases. The age group of people from 35 to 44 showed the greatest interest in BNPL at 65.4%, while customer 65 and older showed the least interest (47%). These aspects would escalate the growth of the regional mobile wallet market over the forecast period.
The US market dominated the North America Mobile Wallet Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $5,938.3 million by 2028. The Canada market is showcasing a CAGR of 29.3% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 28.2% during (2022 - 2028).
Based on Technology, the market is segmented into Proximity and Remote. Based on Application, the market is segmented into Retail & E-commerce, Hospitality & Transportation, Banking, Vending Machine, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Mobile Wallet Market is Estimated to reach $30.2 Billion by 2028, at a CAGR of 27%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Apple, Inc., Samsung Electronics Co., Ltd. (Samsung Group), Google LLC, Amazon Web Services, Inc. (Amazon.com, Inc.), PayPal Holdings, Inc., Ant Group (Alipay) (Alibaba Holding), AT&T, Inc. (AT&T Intellectual Property), Mastercard, Inc., Visa, Inc., and American Express Company.
Scope of the Study
Market Segments Covered in the Report:
By Technology
By Application
- Retail & E-commerce
- Hospitality & Transportation
- Banking
- Vending Machine
- Others
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Apple, Inc.
- Samsung Electronics Co., Ltd. (Samsung Group)
- Google LLC
- Amazon Web Services, Inc. (Amazon.com, Inc.)
- PayPal Holdings, Inc.
- Ant Group (Alipay) (Alibaba Holding)
- AT&T, Inc. (AT&T Intellectual Property)
- Mastercard, Inc.
- Visa, Inc.
- American Express Company
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Mobile Wallet Market, by Technology
1.4.2 North America Mobile Wallet Market, by Application
1.4.3 North America Mobile Wallet Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 KBV Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.2.4 Geographical Expansions
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2018-2022)
3.3.2 Key Strategic Move: (Partnerships, Collaborations & Agreements: 2019, Dec – 2022, Aug) Leading Players
Chapter 4. North America Mobile Wallet Market by Technology
4.1 North America Proximity Market by Country
4.2 North America Remote Market by Country
Chapter 5. North America Mobile Wallet Market by Application
5.1 North America Retail & E-commerce Market by Country
5.2 North America Hospitality & Transportation Market by Country
5.3 North America Banking Market by Country
5.4 North America Vending Machine Market by Country
5.5 North America Others Market by Country
Chapter 6. North America Mobile Wallet Market by Country
6.1 US Mobile Wallet Market
6.1.1 US Mobile Wallet Market by Technology
6.1.2 US Mobile Wallet Market by Application
6.2 Canada Mobile Wallet Market
6.2.1 Canada Mobile Wallet Market by Technology
6.2.2 Canada Mobile Wallet Market by Application
6.3 Mexico Mobile Wallet Market
6.3.1 Mexico Mobile Wallet Market by Technology
6.3.2 Mexico Mobile Wallet Market by Application
6.4 Rest of North America Mobile Wallet Market
6.4.1 Rest of North America Mobile Wallet Market by Technology
6.4.2 Rest of North America Mobile Wallet Market by Application
Chapter 7. Company Profiles
7.1 Apple, Inc.
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Regional Analysis
7.1.4 Research & Development Expense
7.1.5 Recent strategies and developments:
7.1.5.1 Product Launches and Product Expansions:
7.1.5.2 Acquisition and Mergers:
7.1.6 SWOT Analysis
7.2 Samsung Electronics Co., Ltd. (Samsung Group)
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Segmental and Regional Analysis
7.2.5 Recent strategies and developments:
7.2.5.1 Partnerships, Collaborations, and Agreements:
7.2.5.2 Product Launches and Product Expansions:
7.2.6 SWOT Analysis
7.3 Google LLC
7.3.1 Company Overview
7.3.2 Financial Analysis
7.3.3 Segmental and Regional Analysis
7.3.4 Research & Development Expense
7.3.5 Recent strategies and developments:
7.3.5.1 Product Launches and Product Expansions:
7.3.5.2 Business Expansions:
7.3.6 SWOT Analysis
7.4 Amazon Web Services, Inc. (Amazon.com, Inc.)
7.4.1 Company Overview
7.4.2 Financial Analysis
7.4.3 Segmental Analysis
7.4.4 Recent strategies and developments:
7.4.4.1 Partnerships, Collaborations, and Agreements:
7.4.4.2 Product Launches and Product Expansions:
7.4.4.3 Acquisitions and Mergers:
7.4.4.4 Geographical Expansions:
7.4.5 SWOT Analysis
7.5 PayPal Holdings, Inc.
7.5.1 Company Overview
7.5.2 Financial Analysis
7.5.3 Regional Analysis
7.5.4 Research & Development Expense
7.5.5 Recent strategies and developments:
7.5.5.1 Partnerships, Collaborations, and Agreements:
7.5.5.2 Product Launches and Product Expansions:
7.6 Ant Group (Alipay) (Alibaba Holding)
7.6.1 Company Overview
7.6.2 Financial Analysis
7.6.3 Segmental Analysis
7.6.4 Recent strategies and developments:
7.6.4.1 Partnerships, Collaborations, and Agreements:
7.7 AT&T, Inc. (AT&T Intellectual Property)
7.7.1 Company Overview
7.7.2 Financial Analysis
7.7.3 Segmental and Regional Analysis
7.7.4 Research & Development Expense
7.7.5 Recent strategies and developments:
7.7.5.1 Product Launches and Product Expansions:
7.8 Mastercard, Inc.
7.8.1 Company Overview
7.8.2 Financial Analysis
7.8.3 Regional Analysis
7.8.4 Recent strategies and developments:
7.8.4.1 Partnerships, Collaborations, and Agreements:
7.8.4.2 Acquisition and Mergers:
7.9 Visa, Inc.
7.9.1 Company Overview
7.9.2 Financial Analysis
7.9.3 Recent strategies and developments:
7.9.3.1 Partnerships, Collaborations, and Agreements:
7.9.3.2 Acquisition and Mergers:
7.10. American Express Company
7.10.1 Company Overview
7.10.2 Financial Analysis
7.10.3 Segmental and Regional Analysis
7.10.4 Recent strategies and developments:
7.10.4.1 Partnerships, Collaborations, and Agreements:
7.10.4.2 Product Launches and Product Expansions:
7.10.4.3 Acquisition and Mergers:
TABLE 1 North America Mobile Wallet Market, 2018 - 2021, USD Million
TABLE 2 North America Mobile Wallet Market, 2022 - 2028, USD Million
TABLE 3 Partnerships, Collaborations and Agreements– Mobile Wallet Market
TABLE 4 Product Launches And Product Expansions– Mobile Wallet Market
TABLE 5 Acquisition and Mergers– Mobile Wallet Market
TABLE 6 Geographical Expansions– Mobile Wallet Market
TABLE 7 North America Mobile Wallet Market by Technology, 2018 - 2021, USD Million
TABLE 8 North America Mobile Wallet Market by Technology, 2022 - 2028, USD Million
TABLE 9 North America Proximity Market by Country, 2018 - 2021, USD Million
TABLE 10 North America Proximity Market by Country, 2022 - 2028, USD Million
TABLE 11 North America Remote Market by Country, 2018 - 2021, USD Million
TABLE 12 North America Remote Market by Country, 2022 - 2028, USD Million
TABLE 13 North America Mobile Wallet Market by Application, 2018 - 2021, USD Million
TABLE 14 North America Mobile Wallet Market by Application, 2022 - 2028, USD Million
TABLE 15 North America Retail & E-commerce Market by Country, 2018 - 2021, USD Million
TABLE 16 North America Retail & E-commerce Market by Country, 2022 - 2028, USD Million
TABLE 17 North America Hospitality & Transportation Market by Country, 2018 - 2021, USD Million
TABLE 18 North America Hospitality & Transportation Market by Country, 2022 - 2028, USD Million
TABLE 19 North America Banking Market by Country, 2018 - 2021, USD Million
TABLE 20 North America Banking Market by Country, 2022 - 2028, USD Million
TABLE 21 North America Vending Machine Market by Country, 2018 - 2021, USD Million
TABLE 22 North America Vending Machine Market by Country, 2022 - 2028, USD Million
TABLE 23 North America Others Market by Country, 2018 - 2021, USD Million
TABLE 24 North America Others Market by Country, 2022 - 2028, USD Million
TABLE 25 North America Mobile Wallet Market by Country, 2018 - 2021, USD Million
TABLE 26 North America Mobile Wallet Market by Country, 2022 - 2028, USD Million
TABLE 27 US Mobile Wallet Market, 2018 - 2021, USD Million
TABLE 28 US Mobile Wallet Market, 2022 - 2028, USD Million
TABLE 29 US Mobile Wallet Market by Technology, 2018 - 2021, USD Million
TABLE 30 US Mobile Wallet Market by Technology, 2022 - 2028, USD Million
TABLE 31 US Mobile Wallet Market by Application, 2018 - 2021, USD Million
TABLE 32 US Mobile Wallet Market by Application, 2022 - 2028, USD Million
TABLE 33 Canada Mobile Wallet Market, 2018 - 2021, USD Million
TABLE 34 Canada Mobile Wallet Market, 2022 - 2028, USD Million
TABLE 35 Canada Mobile Wallet Market by Technology, 2018 - 2021, USD Million
TABLE 36 Canada Mobile Wallet Market by Technology, 2022 - 2028, USD Million
TABLE 37 Canada Mobile Wallet Market by Application, 2018 - 2021, USD Million
TABLE 38 Canada Mobile Wallet Market by Application, 2022 - 2028, USD Million
TABLE 39 Mexico Mobile Wallet Market, 2018 - 2021, USD Million
TABLE 40 Mexico Mobile Wallet Market, 2022 - 2028, USD Million
TABLE 41 Mexico Mobile Wallet Market by Technology, 2018 - 2021, USD Million
TABLE 42 Mexico Mobile Wallet Market by Technology, 2022 - 2028, USD Million
TABLE 43 Mexico Mobile Wallet Market by Application, 2018 - 2021, USD Million
TABLE 44 Mexico Mobile Wallet Market by Application, 2022 - 2028, USD Million
TABLE 45 Rest of North America Mobile Wallet Market, 2018 - 2021, USD Million
TABLE 46 Rest of North America Mobile Wallet Market, 2022 - 2028, USD Million
TABLE 47 Rest of North America Mobile Wallet Market by Technology, 2018 - 2021, USD Million
TABLE 48 Rest of North America Mobile Wallet Market by Technology, 2022 - 2028, USD Million
TABLE 49 Rest of North America Mobile Wallet Market by Application, 2018 - 2021, USD Million
TABLE 50 Rest of North America Mobile Wallet Market by Application, 2022 - 2028, USD Million
TABLE 51 Key Information – Apple, Inc.
TABLE 52 Key Information – Samsung Electronics Co., Ltd.
TABLE 53 Key Information – Google LLC
TABLE 54 Key Information – Amazon Web Services, Inc.
TABLE 55 Key Information – PayPal Holdings, Inc.
TABLE 56 Key Information – Ant Group
TABLE 57 Key Information – AT&T, Inc.
TABLE 58 key Information – Mastercard, Inc.
TABLE 59 Key Information – Visa, Inc.
TABLE 60 Key Information – American Express Company
List of Figures
FIG 1 Methodology for the research
FIG 2 KBV Cardinal Matrix
FIG 3 Key Leading Strategies: Percentage Distribution (2018-2022)
FIG 4 Key Strategic Move: (Partnerships, Collaborations & Agreements : 2019, Dec – 2022, Aug) Leading Players
FIG 5 Recent strategies and developments: Apple, Inc.
FIG 6 SWOT Analysis: apple, Inc.
FIG 7 Recent strategies and developments: Samsung Electronics Co., Ltd.
FIG 8 SWOT Analysis: Samsung Electronics CO. Ltd.
FIG 9 Recent strategies and developments: Google LLC
FIG 10 SWOT Analysis: Alphabet Inc. (Google LLC)
FIG 11 Recent strategies and developments: Amazon Web Services, Inc.
FIG 12 SWOT analysis: Amazon.com, Inc.
FIG 13 Recent strategies and developments: PayPal Holdings, Inc.
FIG 14 Recent strategies and developments: Mastercard, Inc.
FIG 15 Recent strategies and developments: Visa, Inc.
FIG 16 Recent strategies and developments: American Express Company