Dallas, Texas (PRWEB) June 04, 2015
The Global Mobile Wallet Market 2015-2019 report says one major trend emerging in this market is increased awareness about mobile wallets. Vendors are opting for various marketing strategies to promote their products. They offer various discounts and benefits, which help in creating awareness about mobile wallets.
The complete report spread across 113 pages and provides 42 Exhibits. Browse Global Mobile Wallet Market 2015-2019 report at http://www.rnrmarketresearch.com/global-mobile-wallet-market-2015-2019-market-report.html. The key players in the Global Mobile Wallet Market are Amazon.com Inc., Apple Inc., Citrus Payment Solutions PTE., First Data Corp., Google Inc., MasterCard Inc., One97 Communications Ltd., Oxigen Services India Pvt. Ltd., PayPal Inc., Softcard and Visa Inc.
Analysts forecast the Global Mobile Wallet market to grow at a CAGR of 36.8% over the period 2014-2019. According to the report, the increased benefits of mobile wallets are one of the key drivers of the market. There are many advantages of mobile wallets; for example, they are more secure than physical wallets, and consumers do not have to carry them. With mobile wallets, the cash is stored on the mobile device, which bypasses the bank in the transaction and reduces the transaction failure rate significantly. Furthermore, the report emphasizes the increased awareness about mobile wallets among consumers, which is expected to help sustain market projections through the forecast period. The average consumer is becoming savvier with regards to NFC, and other technology necessary for mobile wallet-based transactions.
Other Prominent Vendors in the market are: airtel Money, Alipay, American Express, Bank of America, Dwolla, LevelUp, LivQuik, MCX, Mobikwik, m-pesa, Square, Tata Teleservices, Venmo, Y-Cash Software Solutions, ZipCash and ZipPay.
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The Global Mobile Wallet Market 2015-2019 report states that infrastructural inadequacies are a major challenge in the market. Hindrances in communication systems and lack of accessibility and interoperability are some of the fallouts of infrastructural inadequacies, especially in the APAC region. Mobile wallet is a new concept, and, therefore, its success is highly dependent on the confidence level of end-users. However, these infrastructure issues can inhibit end-users’ confidence.
The other research Global M-Commerce Market 2015-2019 report says increased adoption of mobile wallets encouraging growth in the M-Commerce market in the US. Analysts forecast the Global M-commerce market (http://www.rnrmarketresearch.com/global-m-commerce-market-2015-2019-market-report.html) to grow at a CAGR of 32.23% over the period 2014-2019. With the availability of Google wallet and PayPal and the introduction of Apple Pay and various other mobile wallets, there has been growing awareness of mobile wallet among consumers. This has helped in increasing the adoption rate of m-commerce services. Also, this has led to the growth in mobile advertising as it is easier for brands to push their products and services to consumers with 24/7 access via handheld devices.
The increasing usage and penetration of devices such as smartphones and tablets facilitate growth of the m-commerce market in the US. Additionally, the rapid economic growth in the US has led to an increase in disposable income, which in turn encourages the populace to buy goods online via m-commerce. This helps to save time and gives a significant push to the market.
Mobile wallets store the details of customers’ credit or debit cards, enabling them to pay at NFC POS terminals using their cellphones. NFC eases these transactions, resulting in the popularity of mobile wallets when conducting online transactions.
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The report recognizes the following companies as the key players in the Global M-commerce Market: Alibaba Group Holding Ltd., Amazon.com Inc., Apple Inc., ASOS.com, Bank of America Corp., Barnes & Noble Inc., BlackBerry Ltd., Costco Wholesale Corp., eBay Inc., Google Inc., MasterCard Inc., Microsoft Corp., Netflix Inc., Office Depot Inc., PayPal Inc., Rakuten Inc., Sears Holdings Corp., Softcard, Staples, Target Corp., Visa Inc., Walmart Inc. and Zynga Inc.
Other Prominent Vendors in the market are: Best Buy, GameStop, Groupon, J. C. Penney, Kohl’s, LL Bean, Liberty Interactive, Macy’s and Newegg.
Browse Other Reports by Infiniti Research at http://www.rnrmarketresearch.com/publisher/Infiniti-Research-Limited.html.
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