E-Wallet Market Overview:
The E-Wallet market share is projected to grow from USD 105.5 Billion in 2023 to USD 567.2 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 23.40% during the forecast period (2023 - 2032).
The global e-wallet market is driven by the emergence of e-commerce and online purchases. These factors have helped shape the e-wallet market and are expected to boost the growth. Companies in the e-wallet market could also face challenges such as the growing occurrence of online fraud and scams as well as strict financial rules and regulations in some countries. The details covered in the e-wallet market report cover all the aspects of the industry. e-wallet market analysts have also shared growth projections in the report and have suggested e-wallet market players to plan growth strategies accordingly.
Click Here to Get Sample Premium Report @
https://www.marketresearchfuture.com/sample_request/4633
Key Players:
Key Companies in the E-Wallet market include,
- DAMEN ePayment
- Alipay
- Samsung Electronics Co. Ltd.
- PayPal Holdings
- KFH
- Google Inc.
Drivers:
Introduction of Payment Technologies to Boost Market Growth
The introduction of payment technologies such as PayPal, Samsung, Apple, and Google and others together with consolidation of banking, service providers have boosted market growth.
Opportunities:
Proliferation of E-commerce to offer Robust Opportunities
The proliferation of e-commerce has helped to fetch people towards e-wallets via offering special discounts that may offer robust opportunities for the e-wallet market over the forecast period. Besides, increase in smartphones and initiatives worldwide for promoting digital payment options is also fuelling market growth.
Restraints:
Lack of Awareness to act as Market Restraint
The lack of information regarding the benefits of e-wallet and increase in cyber related crimes may act as market restraint in the forecast period.
Challenges:
Lack of Standard Norms for Cross-Border Transactions to act as Market Challenge
The lack of standard norms for cross-border transactions may act as market challenge over the forecast period.
COVID-19 Analysis
The COVID-19 outbreak has brought several changes in the manner in which people used to live. A key difference is they went cashless as the procedure does not need any contact between two people. The trends of the e-wallet market have indeed seen huge growth during the outbreak. Besides, COVID-19 outbreak has made people to order stuffs online that again need a digital payment method, and thus the market experiences a positive growth.
Market Segmentation:
The global e-wallet market is bifurcated based on types, technology, end user, and industry vertical.
By type, the e-wallet market is segmented into open e-wallets, semi-closed e-wallets, and closed e-wallets.
By technology, the e-wallet market is segmented into digital-only, text-based/short message service, QR code, and near field communication.
By end user, the e-wallet market is segmented into business and personal.
By industry vertical, the e-wallet market is segmented into telecommunications, energy and utilities, health care, retail, media and entertainment, and hospitality & transportation.
Regional Analysis:
North America to Spearhead E-Wallet Market
North America will spearhead the e-wallet market over the forecast period. The presence of major regions, advent of cashless transactions, safe and easy access to information, and the region being led by Google Pay, Android Pay, and PayPal are adding to the global e-wallet market growth in the region.
Download Sample PDF Copy of this Report to understand structure of the complete report (Including Full TOC, Table & Figures) @
https://www.marketresearchfuture.com/reports/e-wallet-market-4633
The global e-wallet market is both fragmented as well as competitive for the presence of various international and also domestic industry players. The players have used innumerable innovative strategies to stay at the vanguard and also cater to the burgeoning need of the customers including contracts, collaborations, partnerships, contracts, joint ventures, new product launches, geographic expansions, and more. Further, they are also investing in different research and development activities.
Check Regional Reports:
Predictive Maintenance (PdM) Market
Legal Process Outsourcing Market
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
Also, we are launching "Wantstats" the premier statistics portal for market data in comprehensive charts and stats format, providing forecasts, regional and segment analysis. Stay informed and make data-driven decisions with Wantstats.
Contact:
Market Research Future (Part of Wantstats Research and Media Private Limited)
99 Hudson Street, 5Th Floor
New York, NY 10013
United States of America
+1 628 258 0071 (US)
+44 2035 002 764 (UK)
Email: [email protected]
Website: https://www.marketresearchfuture.com
