India Mobile Wallet Market to Show Three-Digit Growth, Forecasts MarketMonitor Consultancy in New Report Available at MarketPublishers.com
22 Dec 2016 • by Natalie Aster
LONDON – Having the world’s youngest population, India boasts high ownership of smartphones as Indians are very interested in services that make their lifestyle easier. As a result, the country is now the second largest market for smartphones, and the U.S. is the number one player. Some other important trends related to the India market for smartphones comprise increasing Internet penetration, growing urbanization, and more.
The market for mobile wallets is growing swiftly in India, as well. Its CAGR stood at approximately 50% over the period 2012-2016.
This marketplace is set to continue showcasing strong growth in the years to come. The government’s decision to demonetize two currency notes and its intention to turn the country into a cashless and digital economy will favor growth of this marketplace in the offing.
All categories of this marketplace experienced strong growth in 2016. The rising focus on promotion of products amongst mobile wallet companies also encourages this market’s growth.
The competitive landscape is rather fragmented, and there are dozens of players being involved in it. Still top three players have a combined share of more than 60%.
The Indian mobile wallet marketplace is projected to be worth USD 4.4 billion by 2022, showing a CAGR of around 150% in 2017-2022.
New research report “India Mobile Wallet Market Analysis, Forecast and Opportunities, 2016-2022” developed by MarketMonitor Consultancy offers a comprehensive discussion of the mobile wallet marketplace in India. The study provides a 360-degree overview of the worldwide market.
It proceeds with a bird’s eye view of the Indian marketplace. The research report proceeds with in-depth insights into market segments’ performance. The study throws light on the dynamics of the Indian marketplace.
It delves deep into the policy landscape in the country as well as regulatory issues. The report scrutinizes the competitive environment and profiles top players like One Mobikwik Systems and ItzCash Card.
The research study also contains the economic profile of the country. It also gives strategic recommendations to market participants.
More new reports by our partner are available at MarketMonitor Consultancy page.