The report of Global Digital Wallet Market by Type (Proximity and Remote), End Use (Personal and Corporate), Industry Verticals, (Education, Gaming, IT & Telecommunications, Aerospace & Defense, Legal, Media & Entertainment, Automotive, Banking Financial Services and Insurance, Consumer Goods and Others), By Region (North America, APAC, Europe, MEA & Africa and South America) is expected to grow at xx % through 2020 to 2027, reaching US$ XX Mn.
Key players of Digital Wallet Market are Apple Inc, American Express Company, Alipay, Bharti Airtel Limited, Paytm, PayPal Holdings Inc, Samsung Electronics Co., Ltd, Square Inc, VISA Inc., PhonePe Private Limited.
In specific, wallet refers to a purse or folding case for secure carrying of money and personal details. A web or electronic payment system that stores both financial value and personal identity related information on a smartphone or computer is referred to as a digital or electronic wallet. This allows a person to make electronic transactions and buy products from a virtual store through a computer or a smartphone. Increasingly, these digital wallets are made not only for regular financial transactions, but also for authentication of the credentials of the holder with both software and information components. The programme related to these wallets offers protection for real transactions by encrypting personal information. In reality, the information component is a user-input information database with server-side digital wallets that are used to increase security, performance, and added usefulness to increase overall purchase satisfaction. Digital wallets are growing as these wallets can be accessed at any point of time without relying on ATM counters as they are accessed by computers or mobile devices that form a major global driver for this market.
In addition, the use of digital wallets also eliminates the chances of card fraud that can jeopardize data and money from anyone. This technology is particularly useful for those who do not have a proper bank account, as it is useful when managing large payments. In addition to all these functions, the use of e-wallets further decreases banking transaction-related costs. In addition, for e-commerce sites as well as clients, these wallets are particularly helpful as it saves time to fill up the forms, thus acting as another major driver for this market. With all of the following factors driving demand for this sector, the existence of such constraints presents challenges to the growth and execution of the sector. Technological dependence is one such significant factor.
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about Global Digital Wallet Market. The report encompasses the market by different segments, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics and future opportunities that might exist in Global Digital Wallet Market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors has been taken into consideration for enhancing market know-how of our clients and at the same time explains Global Digital Wallet Market positioning of competitors.
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