Spain Digital Wallet market was valued at US$1,213.629 million in 2019. Rising proliferation of smartphones and internet penetration is boosting the adoption of digital wallets in the country. According to the World Bank Data, the percentage of the population using the internet in Spain increased from 78.69 in 2015 to 86.12 in 2018. Although Spain lags behind other leading European e-commerce markets such as Germany and France, the market does show positive signs of growth. With growing Read more...
South Korea Digital Wallet market was valued at US$1,228.482 million in 2019. The market of digital wallet is booming rapidly in South Korea on account of the high penetration rate of smartphones as well as the availability of high-speed internet in the country.According to the Bank of Korea, only about 20 percent of payments are made using cash in this country as South Koreans are increasingly switching to digital wallets and mobile apps to pay for goods and services for both online and Read more...
Saudi Arabia Digital Wallet market was valued at US$946.844 million in 2019. The Kingdom of Saudi Arabia is one of the most advanced and one of the fastest-growing economies in the middle east. The market growth in this country is majorly being driven by the rapid growth of e-commerce in this country. With a contribution of more than 15% to the country’s GDP, the e-commerce sector in this country is showing very rapid growth. In conjunction to this, the low dependency of people on Read more...
Mexico Digital Wallet market was valued at US$458.879 million in 2019. Amajority of Mexicans still prefer to pay with cash for rent, transportation, utilities, telephone, and even fines and taxes. According to the National Financial Inclusion Survey (ENIF) 2018, between 87 and 95 percent of these operations were paid with notes and coins in Mexico. However, with the technological revolution, rising use of smartphones, and growing penetration of internet connectivity, mobile payment Read more...
South America Digital Wallet market was valued at US$4,959.383 million in 2019. The region is experiencing a substantial rise in the number of smartphone users as well as growing penetration of the internet in countries like Brazil and Argentina. With this, the adoption of digital wallets is also increasing which is driving the South America digital wallet market growth. Supportive government policies and initiatives to boost digitalization is also leading to the growth of this regional Read more...
North America Digital Wallet market was valued at US$9,750.450 million in 2019. High penetration of smartphones and internet connectivity has significantly driven the adoption of digital wallets in the North American countries in the past few years. The early adoption of new technologies and the presence of major market players in the region contributes substantially to the digital wallet market growth in North America. The high rate of digitalization of personal, professional, and busin Read more...
The Middle East and Africa Digital Wallet market was valued at US$5,747.366 million in 2019. Despite holding a relatively small market share as compared to big regional markets like North America, Europe and the Asia Pacific, the Middle East and Africa digital wallet market is expected to show a good growth over the forecast period. The market growth in this region is majorly attributed to the solid growth of the e-commerce sector across countries like Saudi Arabia, UAE, Israel, and Turk Read more...
Japan Digital Wallet market was valued at US$1,901.123 million in 2019. The market growth of the digital wallet is projected to remain slow in Japan as it is the cash-based country owing to the large aging population base over there. According to the data provided by the Internal Affairs and Communications Ministry, old age people accounted for 28.4 percent of the country’s population and 12.9 percent of its labor force in 2018. According to Japan’s Ministry of Economy, Trade Read more...
Germany Digital Wallet market was valued at US$4,374.972 million in 2019. This is one of the major markets for digital wallet vendors operating in this region and the lucrativeness of this market is anticipated to remain high throughout the forecast period, which will continue to support the growth. The market growth is being shaped by the presence of a fairly large smartphone user base, which is witnessing a continuous expansion on account of the high spending capacity of people in this Read more...
France Digital Wallet market was valued at US$4,176.876 million in 2019. The country is witnessing a rise in online payment transactions, driven by a rise in the penetration of smartphones and internet connectivity in the country. According to the World Bank Data, the percentage of the population using the internet in France rose from 78.01 in 2015 to 82.04 in 2018. According to the Banque de France, there has been a decline in the use of national payment instruments such as trade bills Read more...
.jpg)
