Mobile wallet concept in India is still in the nascent stage, which is restricted primarily to tier 1 cities. However, with the exponential growth of smartphones & tablets in the country, increasing mobile internet subscribers and entry of new players, the market for mobile wallet in India is expected to register swashbuckling growth over the next six years.
According to 6Wresearch, India Mobile Wallet market is projected to generate $11.5 billion by 2022. Reserve Bank of India expected measures to increase the mobile wallet limit and players investing heavily in the marketing campaigns would further fuel the growth of the market. Telecom and broadcasting vertical is the leading revenue contributor in the overall market followed banking vertical. In the forecast period, banking vertical is expected to grow with fastest CAGR amongst all verticals. In application market, recharge application captured lion share of the market.
The report thoroughly covers the market by verticals, applications, devices used and regions. The report provides unbiased and detailed analysis of the on-going trends, opportunities/ high growth areas, market drivers, which would help stakeholders to device and align market strategies according to the current and future market dynamics.
Key Highlights of the Report
The report provides the detailed analysis of the following market segments:
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Media Source: Med Gadget