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India Mobile Wallet Market Size & Analysis by Type (Money Transfer, Recharge, Utility Bill Payment and Others) Forecast and Opportunities, 2018-2023

July 2018 | 90 pages | ID: I4A17864B48EN
MarketMonitor Consultancy

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India is one of the fastest growing economies of the world, and it is home to over 1.3 billion people. The country recorded strong GDP growth of 6.5% in 2017, despite some headwinds from GST. India’s digital payment industry showed promise and registered double digit value growth during 2013-17. India’s middle class continues to grow and IMF’s GDP growth forecast for FY2019 is much better at 7.4%, this will improve business sentiments and benefit different industries including mobile wallet market.

According to MarketMonitor research report “India Mobile Wallet Market Size & Analysis, Forecast & Opportunities, 2018-2023”, mobile wallet market registered whopping double digit value growth, with a CAGR of 67.10% during review period of 2013-17 despite headwinds like mandatory KYC. The market advanced on the back of rising digital awareness, increasing smartphone ownership coupled with surging internet penetration, and convenience associated with such services. The market is forecast to gain immensely during forecast period of 2018-23 to reach around USD 7 Billion by 2023, on account of Government’s increased focus to make India a cashless and digital economy. This will help the industry and directly benefit companies like Paytm, Mobikwik, FreeCharge, Oxigen and many others.

India has already become world’s second biggest smartphone market after overtaking the United States. Apart from growing economy and middle class, India is also witnessing other trends, like modernisation of lifestyle due to growing urbanisation coupled with improvement in the education level. These trends make India a favourable market for multitude of products and services like mobile wallets. In 2017, every category like money transfer, recharge, and utility bill payment recorded strong double digit growth owing to wide range of offers, like discounts and cashback offers for booking movie tickets, paying utility bills and booking air tickets among others.

As far as competitive landscape is concerned, Paytm continues to dominate the market by significant margin followed by tens of players. India mobile wallet has seen growing investment from companies like Google and WhatsApp, who have announced significant investments in the country. Digital payment awareness is anticipated to continue through 2023 and onwards and mobile wallet penetration is likely to go up even in Tier II and Tier III cities through 2023.

India Mobile wallet Market Analysis, Forecast and Opportunities, 2018-23 elaborates the following aspects of market in the country.
  • India Mobile Wallet Market Size by Value, Share & Forecast
  • Segmental Analysis – By Category (Money Transfer, Recharge, Utility & Others) By Company and By Region
  • India Macro Economic Analysis
  • Policy and Regulatory Landscape
  • Micro Market Trends & Developments
  • Competitive Landscape & Strategic Recommendations
Why You Should Buy This Report?
  • To have a comprehensive understanding of India mobile wallet market
  • To help mobile wallet companies in making informed decision through in-depth knowledge of the market size in value terms, macro drivers, challenges and on-going industry trends
  • To obtain competitive advantage over rivals
  • To add weight to presentations and marketing material
  • To avail 10% customization in the report without any extra charges and get research data or trends added in the report as per the buyer’s specific needs
RESEARCH METHODOLOGY

Marketmonitor uses primary and secondary sources to collect the information and validates them to present the 360 degree view of the industry. Primary research includes interviews with mobile wallet companies, digital payment providers and industry analysts while Secondary research focuses on intensive and extensive search of relevant publications i.e. industry magazines, public and private institutions’ industry studies, company annual reports, and other proprietary databases.
1. EXECUTIVE SUMMARY

2. PRODUCT OVERVIEW

3. RESEARCH METHODOLOGY

4. ANALYST VIEW

5. GLOBAL MOBILE WALLET MARKET OVERVIEW

6. INDIA MOBILE WALLET MARKET OUTLOOK

6.1. Mobile Wallet in India (Overview & Business Model)
6.2. Mobile Wallet Market Size, By Value
6.3. Mobile Wallet Market Share and Forecast
  6.3.1. By Service Type, By Value
  6.3.2. By Company, By Value
  6.3.3. By Region, By Value

7. INDIA MOBILE WALLET MONEY TRANSFER MARKET OUTLOOK

7.1. Market Size and Forecast By Value
7.2. Market Analysis

8. INDIA MOBILE WALLET RECHARGE MARKET OUTLOOK

8.1. Market Size and Forecast By Value
8.2. Market Analysis

9. INDIA MOBILE WALLET UTILITY MARKET OUTLOOK

9.1. Market size and Forecast By Value
9.2. Market Analysis

10. INDIA MOBILE WALLET OTHERS MARKET OUTLOOK

10.1. Market size and Forecast By Value
10.2. Market Analysis

11. MARKET DYNAMICS

11.1. Drivers
11.2. Challenges

12. INDIA MOBILE WALLET TRENDS, OPPORTUNITIES AND DEVELOPMENTS

13. INDIA MOBILE WALLET POLICY AND REGULATORY LANDSCAPE

14. INDIA ECONOMIC PROFILE

14.1. India Economic Profile
14.2. Economic Analysis

15. COMPETITIVE LANDSCAPE

15.1. One97 Communications Ltd. (Paytm)
15.2. One Mobikwik Systems Pvt Ltd
15.3. Freecharge Payment Technologies Pvt. Ltd
15.4. Oxigen services (India) Pvt. Ltd
15.5. ItzCash Card Ltd
15.6. PhonePe Private Limited

16. STRATEGIC RECOMMENDATIONS

LIST OF FIGURES

1. India Mobile Wallet Market Size, By Value (USD Million), 2013-2023F
2. India Smartphone Users, Million 2013-2023F
3. Growth (%) of Different Payment Methods Between 2014-2017
4. India Mobile Wallet Market Share, By Type, By Value, 2013-2023F
5. India Mobile Wallet Market Share, By Company, By Value, 2017-2023F
6. India Mobile Wallet Market Share, By Region, By Value, 2017-2023F
7. India Money Transfer Market Size, By Value (USD Million), 2013-2023F
8. India Internet Penetration (%) 2011-2016
9. Mobile Wallet Recharge Market Size, By Value (USD Million), 2013-2023F
10. India Urbanisation Rate (%) 2011-2016
11. Mobile Wallet Utility Market Size, By Value (USD Million), 2013-2023F
12. India Number of Millionaires, 2011-2018
13. Mobile Wallet Others Market Size, By Value (USD Million), 2013-2023F
14. Share of mobile phone users who use a smartphone in India, 2014-19
15. India Disposable Income, USD 2011-2016
16. India Population, Million 2011-2016
17. India Demographic Distribution, 2017

LIST OF TABLES

1. South Region Population (Million), 2016
2. West Region Population (Million), 2016
3. North Region Population (Million), 2016
4. East Region Population (Million), 2016


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