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India Mobile Wallet Market Analysis

India Mobile Wallet Market Analysis, Forecast and Opportunities, 2016-2022

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India Mobile Wallet Market Analysis, Forecast & Opportunities, 2016-2022

India is one of the fastest growing economies of the world, with a vast population of over 1.30 billion people. India is world’s youngest nation, with nearly 60% of population below 35 years. This young population enjoys high smartphone ownership and they tend to look for services that can ease their lifestyle. India has already become world’s second biggest smartphone market after overtaking the United States. Apart from growing economy and population growth, India is also witnessing other trends, like surging internet penetration, rising smartphone ownership, modernisation of lifestyle due to urbanisation coupled with improvement in education level. These trends make India a favourable market for multitude of products and services like mobile wallets.

According to MarketMonitor research report “India Mobile Wallet Market Analysis, Forecast & Opportunities, 2016-2022”, mobile wallet market registered whopping growth, with a CAGR of 48.85% during review period of 2012-16. The market advanced on the back of rising smartphone ownership, surging internet penetration, increasing disposable income and convenience associated with such services. The market is forecast to gain immensely during forecast period of 2017-22, due to Government’s decision to demonetize INR 500 and INR 1000 currency notes and focus to make India a cashless and digital economy. This will help the industry and directly benefit companies like Paytm, FreeCharge, Oxigen and others.

In 2016, every category like money transfer, recharge, and utility bill payment recorded strong growth due to an array of benefits like cashback offers offered by these mobile wallet companies. Market also gained due to companies’ increased focus to promote the adoption of mobile wallets by all the players. As far as competitive landscape is concerned, mobile wallet market is a fragmented market with tens of players, wherein top three players account for over 60% of the market in value terms. Besides, mobile wallet companies are offering wide range of offers, like discounts and cashback offers to promote mobile wallets’ usage for booking movie tickets, paying utility bills and booking air tickets. This factor has also contributed towards increasing demand of mobile wallets in the country. And, the market is forecast to reach USD 4.4 billion by 2022, with a CAGR of over 148% during 2017-22.

As per Adarsh Raj, Research Director MarketMonitor Consultancy, “India’s GDP per capita has tripled over the past decade, and World Bank suggests that at the current GDP per capita level, expenditure should accelerate from current levels, benefitting varieties of sectors, including mobile wallet market. Average households in urban as well as in rural areas have seen an upsurge in smartphone ownership and internet usage, following availability of low cost mobile phones, improvement in job prospects in metro tier II and tier III cities, increase in double income households and government’s effort to boost rural income. These positive factors are helping Indian consumers to adopt more mobile wallets.”

India Mobile wallet Market Analysis, Forecast and Opportunities, 2016-2022 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
NO. TABLE OF CONTANT P.N
1 Product Overview 7
2 Research Methodology 8
3 Executive Summary 9
4 Global Mobile Wallet Market Overview 12
5 India Mobile Wallet Market Outlook 14
  5.1 Market size and Forecast By Value 15
  5.2  Market Share and Forecast  
  5.2.1 By Service Type 22
  5.2.2  By Company 25
  5.2.3 By Region 30
6 India Mobile Wallet Money Transfer Market Outlook 33
  6.1  Market size and Forecast By Value 30
7 India Mobile Wallet Recharge Market Outlook 37
  7.1  Market size and Forecast By Value 34
8 India Mobile Wallet Utility Market Outlook 40
  8.1  Market size and Forecast 41
9 India Mobile Wallet Others Market Outlook 44
  9.1  Market size and Forecast 45
10 Market Dynamics 46
  10.1 Drivers 49
  10.2 Challenges

50
11 India Mobile Wallet Opportunities and Developments 55
12 India Mobile Wallet Policy and Regulatory Landscape 64
13 India Economic Profile 72
  13.1 India Economic Profile

73
  13.2 Economic Analysis

75
14 Competitive Landscape 77
  14.1 One97 Communications Ltd. (Paytm)

78
  14.2 One Mobikwik Systems Pvt Ltd

79
  14.3 Freecharge Payment Technologies Pvt. Ltd

80
  14.4 Oxigen services (India) Pvt. Ltd

81
  14.5 ItzCash Card Ltd

82
15 Strategic Recommendations 83
NO. LIST OF FIGURES P.N
1 India Mobile Wallet Market Size, By Value (USD Million), 2012-2022F 16
2 India Smartphone Users, By Volume , Million (2012-2022F) 17
3 Growth (%) of Different Payment Methods Between 2014-2016 19
4 India Mobile Wallet Market Share, By Type, By Value, 2012-2022F 21
5 India Mobile Wallet Market Share, By Company, By Value, 2016-2022F 25
6 India Mobile Wallet Market Share, By Region, By Value, 2016-2022F 30
7 India Money Transfer Market Size, By Value (USD Million), 2012-2022F 34
8 India Internet Penetration, 2011-2016F 36
9 Mobile Wallet Recharge Market Size, By Value (USD Million), 2012-2022F 38
10 India Urbanisation Rate 2011-2016F 39
11 Mobile Wallet Utility Market Size, By Value (USD Million), 2012-2022F 41
12 India Number of Millionaires, Lakh, (2011-2018F) 43
13 Mobile Wallet Others Market Size, By Value (USD Million), 2012-2022F 45
14 India Disposable Income, USD (2011-2016E) 50
15 India Population, in Million (2011-2015) 51
16 India Demographic Distribution, 2015 61

 

NO. LIST OF TABLES P.N
1 West Region Population (Million), 2015 31
2 South Region Population (Million), 2015 31
3 North Region Population (Million), 2015 32
4 East Region Population (Million), 2015 32

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