India is one of the fastest growing economies of the world, and it is home to over 1.3 billion people. The country recorded strong GDP growth of 6.5% in 2017, despite some headwinds from GST. India's digital payment industry showed promise and registered double digit value growth during 2013-17. India's middle class continues to grow and IMF's GDP growth forecast for FY2019 is much better at 7.4%, this will improve business sentiments and benefit different industries including mobile wallet market.
According to India Mobile Wallet Market Size & Analysis, Forecast & Opportunities, 2018-2023, mobile wallet market registered whopping double digit value growth, with a CAGR of 67.10% during review period of 2013-17 despite headwinds like mandatory KYC. The market advanced on the back of rising digital awareness, increasing smartphone ownership coupled with surging internet penetration, and convenience associated with such services.
The market is forecast to gain immensely during forecast period of 2018-23 to reach around USD 7 Billion by 2023, on account of Government's increased focus to make India a cashless and digital economy. This will help the industry and directly benefit companies like Paytm, Mobikwik, FreeCharge, Oxigen and many others.
As far as competitive landscape is concerned, Paytm continues to dominate the market by significant margin followed by tens of players. India mobile wallet has seen growing investment from companies like Google and WhatsApp, who have announced significant investments in the country. Digital payment awareness is anticipated to continue through 2023 and onwards and mobile wallet penetration is likely to go up even in Tier II and Tier III cities through 2023.
India Mobile wallet Market Analysis, Forecast and Opportunities, 2018-23 elaborates the following aspects of market in the country
India Mobile Wallet Market Size by Value, Share & Forecast
Segmental Analysis - By Category (Money Transfer, Recharge, Utility & Others) By Company and By Region
India Macro Economic Analysis
Policy and Regulatory Landscape
Micro Market Trends & Developments
Competitive Landscape & Strategic Recommendations
Key Topics Covered:
1. Executive Summary
2. Product Overview
3. Research Methodology
4. Analyst View
5. Global Mobile Wallet Market Overview
6. India Mobile Wallet Market Outlook 6.1. Mobile Wallet in India (Overview & Business Model) 6.2. Mobile Wallet Market Size, By Value 6.3. Mobile Wallet Market Share and Forecast 6.3.1. By Service Type, By Value 6.3.2. By Company, By Value 6.3.3. By Region, By Value
7. India Mobile Wallet Money Transfer Market Outlook 7.1. Market Size and Forecast By Value 7.2. Market Analysis
8. India Mobile Wallet Recharge Market Outlook 8.1. Market Size and Forecast By Value 8.2. Market Analysis
9. India Mobile Wallet Utility Market Outlook 9.1. Market size and Forecast By Value 9.2. Market Analysis
10. India Mobile Wallet Others Market Outlook 10.1. Market size and Forecast By Value 10.2. Market Analysis