Indian Mobile Wallet Industry to Witness Astounding Growth in the Next Few Years

2026-08-20 03:08:28 Business

399

According to a new research report by RNCOS entitled, ?Indian Mobile Wallet Market Outlook 2020?, the m-wallet has gained huge popularity in the past couple of years due to its attractive benefits and convenience. The major growth drivers of the industry are Introduction of new services, increasing smartphone users, increasing penetration of mobile internet, affordable handsets and low mobile internet tariff rate.

The m-wallet market can be segmented into three broad services: Money Transfers, Recharge, and Others. In 2014, the Money Transfer segment, which includes money transfers from bank to wallet, wallet to wallet and wallet to the bank, was estimated as the largest segment of Indian m-wallet market. The market, which stood at US$ 0.004 Billion in 2014 has potential to report a significant growth in the next six years. Indian m-wallet market is anticipated to grow at 225% CAGR to become US$ 5.12 Billion by 2020. Mobile recharge and bill payment has been the fastest growing segment. Paytm, Mobikwik, Oxigen, ITZ cash, Vodafone m-pesa and Airtel money are the top m-wallet companies in India.

Research Analysis and Highlights

The report is spread in over 53 pages and provides an in-depth research and rational analysis of the current status and future prospect of Indian m-wallet Industry. The study presents a transparent picture about different m-wallet services such as recharge, bill payments, money transfers and utilities. The research further covers the current scenario of non cash payment transactions, detailed analysis of Indian m-payment industry, growth drivers and challenges as well as recent developments.

The report also covers detailed information about active market players in the Indian m-wallet industry, including domestic and global players to enable the clients to understand the market structure and its growth during the forecasted period. In brief, the report, ?Indian Mobile Wallet Market Outlook 2020? covers all the necessary aspects of the Indian m-wallet industry, providing an in-depth research and prudent analysis of the key segments.

Some of the key highlights of the report include the following:

- Growth Drivers such as rise in mobile internet users, rise in smartphone users, Market Segmentation by type of m-payment
- Current and future market of m payment and m-wallet
- Leading Players and their share in Indian m-wallet market

For FREE SAMPLE of this report visit: http://www.rncos.com/Report/IM792.htm

Check Related REPORTS on: http://www.rncos.com/TelecommunicationIT.htm

ABOUT RNCOS

RNCOS is a leading industry research and consultancy firm incorporated in 2002. As a pioneer in syndicate market research, our vision is to be a global leader in the industry research space by providing research reports and actionable insights to companies across a range of industries such as Healthcare, IT and Telecom and Retail etc. We offer comprehensive industry research studies, bespoke research and consultancy services to Fortune 1000, Trade associations, and Government agencies worldwide.