E-wallet Market – Overview
The development of e-payment platforms is estimated to motivate the e-wallet market 2020. The information & communication technology industry reports are created by Market Research Future, which centers on market choices for expansion. A CAGR of 15% is estimated to drive the market earning to USD 2,100 billion by 2023.
The increased volumes of payments that are occurring through digital channels is promoting the e-wallet market share. The transfer for cash payments to plastic card payments is projected to encourage e-wallet market substantially in the upcoming period.
Segmental Analysis
The segmental evaluation of the e-wallet market is done on the basis of application, type, mode, and region. Based on the mode, the e-wallet market is divided into online payment and m-wallet. On the basis of types, the e-wallet market is segmented into semi-closed e-wallets, closed e-wallets, and open e-wallets. The application basis of segmenting the e-wallet market is segmented into entertainment, retail, transportation, banking and others. Based on the Region, the e-wallet market is segmented into North America, Europe, Asia Pacific and rest of the regions.
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Detailed Regional Analysis
The regional appraisal of the e-wallet market is segmented North America, Europe, Asia Pacific, and rest of the regions. The North American region is followed by the European region and is contributing significantly to the development of the market in the forecast period. The move towards cashless countries are estimated to boost the development of the market for e–wallets in Japan, China, and India are moving towards. Due to the increased adoption of the smartphone in this region, there is an extraordinary growth opportunity for e-wallets. In a country like India, after demonetization, online payment transfers grew substantially. The support from the government for a cashless country and the digital country and such advantages will power the development of e-wallet market. All the nations across the globe are backing up online wallet payment, which will assist in tracking all kinds of transaction and reducing the black money transactions.
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