LONDON, Jan. 26, 2017 /PRNewswire/ --
Mobile wallet is a form of virtual wallet carrying credit or debit card information on mobile. Mobile wallet (m-wallet, digital wallet or e-wallet) allows user to make financial transactions through smartphones, tablets, phablets, etc. India mobile wallet market is witnessing growth over the past few years due to fast and secure transactions, increasing urbanization and rising government initiatives such as Unified Payment Interface and RBI initiative for increasing mobile wallet limit in India. The companies involved in providing mobile wallets are predominantly focusing on increasing ease of use and security features in m-wallet transactions. Payment transfer accounted for the largest value share in India in 2015 on account of increasing number of net banking and mobile banking transactions, coupled with increasingly tech savvy consumer base, which is embracing this technology with open arms.
According to TechSci Research report "India Mobile Wallet Market By Application, By End User, Competition Forecast & Opportunities, 2012 - 2021", the market for mobile wallets in India is projected to grow at a CAGR over 50% during 2016 – 2021. Evolving technologies, secure authentication process, rising adoption of online payments and growing e-commerce transactions are anticipated to significantly boost India mobile wallet market in the coming years. Banking sector accounted for the largest end use sector in the country's mobile market in 2015, followed by retail, telecom and transportation sectors. Northern region accounted for the maximum number of mobile wallet users, owing to highest number of retail stores choosing payment through mobile wallets in the region's Tier I, Tier II & Tier III cities. Few of the major companies in India mobile wallet market include One97 Communications, One Mobikwik, ItzCash, Oxigen, among others. "India Mobile Wallet Market By Application, By End User, Competition Forecast & Opportunities, 2012 - 2021" discusses the following aspects of mobile wallet market in India:
- India Mobile Wallet Market Size, Share & Forecast
- Segmental Analysis: By Application (Payment Transfer, Recharge & Bill Payment, Utilities and Others) and By End User (Telecom, Banking, Transportation, Retail and Others)
- Changing Market Trends & Emerging Opportunities
- Policy & Regulatory Landscape
- Voice of Customers (End Users)
- Competitive Landscape & Strategic Recommendations
Why You Should Buy This Report?
- To gain an in-depth understanding of India Mobile Wallet Market.
- To identify the on-going trends, and anticipated growth in the next five years
- To help industry consultants, mobile wallet service providers align their market-centric strategies
- To obtain research-based business decisions and add weight to presentations and marketing material
- To gain competitive knowledge of leading market players
- To avail 10% customization in the report without any extra charges and get the research data or trends added in the report as per the buyer's specific needs
The information contained in this report is based upon both primary and secondary research. Primary research included interviews with mobile wallet service provider companies in India. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports and proprietary databases.
Download the full report: https://www.reportbuyer.com/product/4646988/
Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers
For more information:
Research Advisor at Reportbuyer.com
Tel: +44 208 816 85 48
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/india-mobile-wallet-market-by-application-by-end-user-competition-forecast-and-opportunities-2012-a-2021-300397813.html