The global E-wallet Market is expected to grow at a CAGR of +15% and estimated to reach market size of approximately USD 2,100 billion by the end of the forecast period 2021-2028.
An E-wallet is a type of electronic card which is used for transactions made online through a computer or a smartphone. Its utility is the same as a credit or debit card. An E-wallet needs to be linked with the individual’s bank account to make payments. With the emergence of e-commerce and online purchases, the procedure required for the payment system is also changing, forcing it to go digital due to which users migrated from cash payments to plastic card payments and now to contactless payments.
Report Consultant provides details on the effective statistics by researching on the E-Wallet Market and uses primary and secondary research as a root source of analysis. The author of the report analyzed the current global scenario of the market.
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Top Key Players:
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 market.
Geographically, the regional analysis of E-wallet Market is studied for North America, Europe, Asia-Pacific and Rest of the World. Asia pacific, Japan, China, and India are moving towards cashless countries. There is the high growth opportunity for e-wallet due to increased adoption of the smartphone in this region.
The report focuses on the effective strategies which enlists the different factors to determine the strategic planning for the industries. The author studies and elaborates the economic aspects of E-wallet Market, which, predicts the risk factors coming in front of the businesses.
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E-wallet Market by Type:
- Closed e-wallets
- Semi closed e-wallets
- Open e-wallets
E-wallet Market by Application:
The market has turned out to be highly competitive therefore the marketers are increasingly indulging in strategic merger and acquisition activities to upsurge their product quality and reduce their manufacturing costs. Such collaborative activities form one of the major business tactics adopted by the players.
The most basic step undertaken by the experts is the SWOT analysis depicting the multidimensional prospects, which ultimately gives a clear picture of the market’s future growth. It also aids the reader in understanding the business feasibility by giving a valuable insight into the impact of recent developments on the commercial aspect.
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