MarkNtel Advisors – Leading Market Research Company found Global Digital Wallet Market is expected to reach 20.58% CAGR Growth By 2030.

This report provides a comprehensive analysis of the Global Digital Wallet Market, with a focus on market size, segmentation, key players, geographical analysis, and growth in the coming years. The expert team of analysts invested considerable time and effort in collecting and analyzing the latest market data, producing a comprehensive and current report that provides valuable insights for decision-makers, including business owners and analysts.

Comprehensive Analysis of the Digital Wallet Market

Base Year: 2023

Forecast Years: 2024-2030

Historical Years: 2019-2022

If you’re interested in the assumptions considered in this study, you can download the PDF brochure-  - https://www.marknteladvisors.com/query/request-sample/digital-wallet-market.html

Scope of the Digital Wallet Market Report:

The Global Digital Wallet Market size was valued at USD 2,140.18 billion in 2023 and is projected to reach USD 7,857.70 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 20.58% during the forecast period, i.e., 2024-30. The need for digital wallets is growing tremendously worldwide owing to various factors, like technological innovation, growing consumer demand for convenience & security, supportive legal frameworks, and the digitization of services.

The global proliferation of smartphones has been one of the reasons responsible for the growth of digital wallets. According to Groupe Spécial Mobile (GSMA), as of 2023, over half (54%) of the global population, i.e., approximately 4.3 billion individuals own a smartphone. Hence, with individuals gaining more access to smartphones, the potential user base for digital wallets is also expanding significantly. Also, mobile phones offer a convenient platform for accessing digital wallets due to which users can easily download wallet apps, link their payment methods, and manage transactions directly from their devices. This makes digital payment solutions an attractive option for everyday financial activities, thus supporting market growth.

Which prominent factor is expected to drive the Digital Wallet Market during 2024-30?

Favorable Policies & Digitalization Initiatives for Encouraging Cashless Transactions – Globally, both public & private sectors are concentrating more on implementing cutting-edge technology, like big data analytics, AI, and the IoT, in the finance industry to support digital transformation. Furthermore, in order to push cashless transactions & improve accountability & transparency, the government has launched projects and programs that creates an audit trail that lowers the possibility of money laundering & tax evasion. For instance, in the year 2023, the government of the UAE introduced a fintech action plan, including projects like an instant payments platform and a Central Bank Digital Currency (CBDC) to promote digital transformation in financial services.

Furthermore, administrations of several countries like India, Saudi Arabia, etc., are introducing digital currencies to drive economic growth, thereby, accelerating the adoption of digital wallets and supporting market growth. Additionally, authorities are allocating funds in the fintech sector to encourage the development of advanced digital wallet solutions. These investments and government initiatives would continue to improve consumer demand for digital wallets, making them the preferred choice for financial transactions in the future.

What are the different Segment Available in the Digital Wallet Market?

By Type

• Proximity - Market Size & Forecast 2019-2030, USD Million
• Remote - Market Size & Forecast 2019-2030, USD Million

By Technology

• Near Field Communication - Market Size & Forecast 2019-2030, USD Million
• QR Code - Market Size & Forecast 2019-2030, USD Million
• Text-based/Short Message Service - Market Size & Forecast 2019-2030, USD Million
• Digital Only- Market Size & Forecast 2019-2030, USD Million

By Wallet Type

• Open- Market Size & Forecast 2019-2030, USD Million
• Closed- Market Size & Forecast 2019-2030, USD Million
• Semi-closed - Market Size & Forecast 2019-2030, USD Million

By Industry Vertical

• Banking, Financial Services, and Insurance (BFSI)- Market Size & Forecast 2019-2030, USD Million
• Hospitality- Market Size & Forecast 2019-2030, USD Million
• Media & Entertainment- Market Size & Forecast 2019-2030, USD Million
• Retail & E-commerce- Market Size & Forecast 2019-2030, USD Million
• Energy & Utilities- Market Size & Forecast 2019-2030, USD Million
• Telecommunication- Market Size & Forecast 2019-2030, USD Million
• Others (Healthcare, Gaming, etc.)- Market Size & Forecast 2019-2030, USD Million

By End User

• Personal- Market Size & Forecast 2019-2030, USD Million
• Business/Corporate- Market Size & Forecast 2019-2030, USD Million

By Ownership

• Banks- Market Size & Forecast 2019-2030, USD Million
• Telecom Operators- Market Size & Forecast 2019-2030, USD Million
• Device Manufacturers- Market Size & Forecast 2019-2030, USD Million
• Tech Companies- Market Size & Forecast 2019-2030, USD Million

By Region

• North America
• South America
• Europe
• The Middle East & Africa
• Asia-Pacific.

Browse Full Report Along with TOC and Figures - https://www.marknteladvisors.com/research-library/digital-wallet-market.html

Leading Digital Wallet companies operating in the Market

• 1. Google
• 2. Apple Inc.
• 3. Amazon Web Services, Inc.
• 4. PayPal Holdings, Inc.
• 1. Business Description                                       
• 5. One MobiKwik Systems Limited
• 6. Paytm
• 7. Alipay
• 8. PhonePe
• 9. Gopay
• 10. Freecharge Payment Technologies Pvt. Ltd.
• 11. Skrill
• 12. Samsung
• 13. Dwolla, Inc.
• 14. Barclays Bank Delaware
• 15. Mastercard
• 16. Others.

*Reports Delivery Format - Market research studies from MarkNtel Advisors are offered in PDF, Excel and PowerPoint formats. Within 24 hours of the payment being successfully received, the report will be sent to your email address

About Us –

We are a leading market research company, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.

Contact Us –

Call +1 628 895 8081 +91 120 4278433

Email: sales@marknteladvisors.com