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Global Mobile Wallet Market is Expected to Reach $5,250 Billion by 2020 - Allied Market Research

According to the latest report, the global mobile wallet market is expected to reach $5,250 billion in 2020, growing at a CAGR of 127.5% from 2013 to 2020. Growing awareness regarding mobile wallets and their applications, rising smartphone penetration and increasing security are expected to drive the mobile wallet market.

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The mobile wallet market is witnessing growth globally with increasing adoption of mobile payment services. Asia Pacific is expected to be the fastest growing region for the mobile wallet market, during the forecast period followed by EMEA.

Portland, OR (PRWEB UK) 3 June 2014

Allied Market Research publishes a report titled “Mobile Wallet Market (Applications, Mode of Payment, Stakeholders and Geography) - Global Share, Size, Industry Analysis, Trends, Opportunities, Growth and Forecast, 2012 – 2020.”

The report forecasts the global mobile wallet market to attain a market value of $5,250billion by 2020, registering a CAGR of 127.5% during 2013-202.

To view the complete report, visit us at http://www.alliedmarketresearch.com/mobile-wallet-market

Rising awareness about mobile wallet and its applications, higher sales of Smartphone and increasing security would propel the growth of mobile wallet market. As per the study, Mobile commerce would be the leading segment during the analysis period. However, privacy is still a concern for mobile wallet market. Further, higher investment and deployment issues are also deterring the growth of market. Hence, most users still prefer debit & credit cards.

“The mobile wallet market is witnessing growth globally with increasing adoption of mobile payment services. Asia Pacific is expected to be the fastest growing region for the mobile wallet market, during the forecast period followed by EMEA,” state analystLita Person and SaurabhSaxena. “The lack of regulations and monitoring for mobile enabled payments in African countries has triggered the mobile wallet market growth in the region, whereas reluctance of merchants in Asia Pacific countries such as India, temporarily has hold the growth, which in turn will prompt the much faster adoption in future”explain the analysts.

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As per the report, the global mobile market is segmented into mode of payment, stakeholders and applications.The application market is sub-segmented into mobile commerce, mobile ticketing, mobile coupons, money transfers, micro payments and others.

The mode of payments is further divided into NFC and remote payment. The stakeholders, in terms of mobile walletmarket,consist of mobile network operators, handset manufacturers, mobile payment service providers, OSS/BSS solution providers, software developers, content and applications aggregators, and others, which include TSM, value service providers, retailers/merchants and mobile payment networks and banks.

The report provides a complete view on the top firms that are operationalin the mobile wallet market and they are listed below
American Express
Apple Inc
MasterCard
Visa
AT&T
Sprint
First Data
BlackBerry
Samsung
Google.

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Allied Market Research (AMR) is a global market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions". AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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