Covid-19 Impact on E-Wallet Market – Overview
Development of ecommerce concepts has spread in the market rapidly. Market Research Future, a firm which specializes in market reports related to the Information and Communications Technology sector among others, recently published a report on this market. The E-Wallet Market on an international level is expected to grow at a CAGR of 15% and is estimated to reach market size USD 2,100 billion approximately by the 2023.
Advancement of technology has led to a rapid pace of development of the market. Smartphones are one of the major factors that have led to widespread penetration of e wallets in the masses. The convenience of having money on demand has triggered the migration of individuals to cashless transactions. Improvement in internet infrastructure and mobile network connectivity has promoted growth of the market.
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Market Research Future study identifies Alibaba Group Holding Ltd. (China), Apple, Inc. (U.S.), Citrus Payment Solutions (India), Google, Inc. (U.S.), MasterCard (U.S.), Oxigen Services India Pvt. Ltd (India), PayPal Holdings (USA), Samsung Electronics Inc. (South Korea), and Visa (USA) as the key vendors in the global E Wallet Industry.
E-wallet Global Market – Segmentation
- Segmentation by application: entertainment, transportation, banking, retail and others.
- Segmentation by type: closed e-wallets, semi-closed e-wallets and open e-wallets.
- Segmentation by mode: online and offline.
- Segmentation by region: North America, Europe, Asia Pacific and rest of the world.
E-wallet Global Market – Regional Analysis
The regional analysis of E-wallet market is studied for North America, Europe, Asia-Pacific and Rest of the World. North America and Europe are contributing a large share in market growth. Followed by Asia Pacific, Japan, China and India which are moving towards cashless economies. Due to increased usage of smartphones, these regions are expected to show high growth opportunities for usage of e-wallets. After demonetization in India, there has been tremendous growth in online payment transfers as well as digital banking. Paytm has achieved 4.7% growth due to this change. In addition to this, FreeCharge doubled its users and is moving towards cashless economy. This will eventually result into tracking all transactions and eradicating black money transactions to some extent.
- Service providers
- Software Developers
- IT enablers
- Cloud providers
- Storage Providers
- Software Investors
- Database solutions
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TABLE OF CONTENTS
1 Market Introduction
1.2 Scope Of Study
1.2.1 Research Objective
1.3 Market Structure
2 Research Methodology
2.1 Research Smart Contracts
2.2 Primary Research
2.3 Secondary Research
2.4 Forecast Model
2.4.1 Market Data Collection, Analysis & Forecast
2.4.2 Market Size Estimation
3 Market Dynamics
3.2 Market Drivers
3.3 Market Challenges
3.4 Market Opportunities
3.5 Market Restraints
4 Executive Summary
- Market Factor Analysis
5.1 Porter’s Five Forces Analysis
5.2 Supply Chain Analysis
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