GITNUX MARKETDATA REPORT 2024

Global Mobile Wallet Industry Statistics

The global mobile wallet industry is expected to continue its rapid growth, with a projected CAGR of 24.5% from 2020 to 2027.

Last Updated: June 22, 2024

Written & Summarized by: Jannik Lindner

How we write

In this post, we explore the dynamic landscape of the global mobile wallet industry with a focus on key statistics and trends shaping its trajectory. From the staggering market valuation to regional adoption rates, we delve into the numbers that underscore the growing prominence of mobile wallets in the realm of digital payments. Join us as we examine the data that paints a picture of the industry’s present and future prospects.

Statistic 1

"As of 2021, the global mobile wallet industry is valued at around 1.04 trillion USD."

Statistic 2

"The market is expected to reach upto $7.5 trillion by 2027 at a CAGR of 28.2%."

Statistic 3

"Mobile Wallet Transactions in India crossed the $1 trillion mark in 2021."

Statistic 4

"Around 50% of Smartphone Users are forecast to use digital wallets by 2025."

Statistic 5

"In 2025, Mobile Wallets Are Expected To Surpass Credit Cards As Most Popular Online Payment Method."

Statistic 6

"China dominates the global mobile wallet industry, where 47% of the population uses this payment method."

Statistic 7

"In 2020, Apple Pay with over 500 million users was the most popular global mobile wallet."

Statistic 8

"In 2021, the remittance application segment held over 35% of the mobile wallet market share."

Statistic 9

"Near-Field Communication (NFC) captured over 55% revenue share in 2020 in mobile wallet technology."

Statistic 10

"Around 2.07 billion consumers worldwide are using a mobile wallet."

Statistic 11

"As of 2020, 50.5% of mobile payment users were using WeChat Pay."

Statistic 12

"As of 2021, 91 million people are expected to use proximity mobile payment apps in the USA."

Statistic 13

"Mobile wallets contributed to approximately 6.1 billion U.S. dollars in revenue in 2020."

Statistic 14

"By 2023, the number of proximity mobile payment users worldwide is expected to reach 1.31 billion."

Statistic 15

"An average user of mobile payment wallets conducts 50 transactions per year."

Statistic 16

"According to a survey, 51% of respondents in the Asia Pacific region said they use mobile wallets regularly."

Statistic 17

"In North America, only 25% of smartphone users made digital wallet payments in 2020."

Statistic 18

"The transaction value per user in the Mobile POS Payments segment is expected to reach $2,250.49 by 2025."

The global mobile wallet industry has experienced rapid growth and is set to continue its upward trajectory in the coming years. With a current value of 1.04 trillion USD in 2021 and projections to reach $7.5 trillion by 2027, the industry is witnessing significant adoption worldwide. Key trends include the increasing popularity of mobile wallets in countries like India and China, the dominance of specific platforms such as Apple Pay and WeChat Pay, and the expected shift towards mobile wallets surpassing credit cards as the preferred online payment method by 2025. As technology and consumer behavior evolve, the mobile wallet market presents lucrative opportunities for businesses and offers convenient and secure payment options for users globally.

Jannik Lindner

Jannik is the Co-Founder of Gitnux and has been working in the digital space since 2016. He is specialized in content and tech.

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