Digital Wallet Market expected to reach USD 19,682.209 billion by 2030
Digital Wallet Market Trends & Forecast
According to a research study published by Knowledge Sourcing Intelligence (KSI), the digital wallet market will expand from USD 8,286.388 billion in 2025 to USD 19,682.209 billion in 2030 at a CAGR of 18.88% during the forecast period.
Digital wallets which contain credit card information and bank account information in mobile devices provide mobility in making mobile payments when making purchases in stores, paying bills, charging mobile phones, buying movie tickets and making travel reservations. The digital wallet segment is booming because of the need to have convenient payment systems and technological advances such as virtual money and contactless payments. Mobile payment systems bring consumer revolution in developing countries leading to a boost in financial inclusion.
Real-time customer data analytics enhance the usage of digital wallets, allowing retailers to view the information about their users in real-time, simplifying transactions, and enhancing customer experience. This leads to adoption of retailer, which spurs market growth. The leaders are North America and Europe, with well-developed fintech infrastructure, and Asia-Pacific, especially India and China are developing at a fast pace. The security measures, such as biometric authentication and encryption, raise the trust, but the problem of cybersecurity is still here. Fraud detection using blockchain and AI also helps to reinforce secure transactions. Convenience, innovation and digital transformation are the driving factors of the digital wallet market that is transforming the payment ecosystems around the world.
Get In-Depth Analysis of the Global Digital Wallet Market
This article covers the fundamentals. Our full market report provides the granular data, competitive landscape, and strategic insights you need to navigate the rapidly evolving digital payments industry.
- ✅ Detailed Market Size & Growth Forecasts
- ✅ Key Player Analysis & Market Share
- ✅ Application Breakdowns & Regional Trends
Digital Wallet Market Report Highlights
- By Device, the global digital wallet market is segmented into mobile devices and PCs/laptops, with mobile wallets accounting for the largest market share due to widespread smartphone adoption and increasing access to mobile internet services. Mobile payments with the features like biometric authentication, QR codes, and NFC technology are proving to be more convenient in conducting the daily transactions among consumers, thereby increasing the use of mobile payments among consumers. The wallets based on PCs and laptops are primarily intended to be used in the field of online shopping, bill payment and money management, especially within corporate and e-commerce systems.
- By Application, money transfers hold maximum share of the market with the users of wallets to more peer to peer transactions, domestic remittances, and international payments. Mobile top-ups and payment of utility bills (recharge services) are important because they are recurrent and convenient. Movie booking, ordering food are among the applications that are rapidly gaining demand, as there is a growing online entertainment platform and online food delivery service. Additional uses such as travel reservation, subscription payment and retail shopping are also contributing to the use of wallets in various daily digital interactions.
Report Coverage:
| Report Metric | Details |
| Digital Wallet Industry Size in 2025 | USD 8,286.388 billion |
| Digital Wallet Industry Size in 2030 | USD 19,682.209 billion |
| Growth Rate | CAGR of 18.88% |
| Drivers |
|
| Restraints |
|
| Segmentation |
|
| List of Major Companies in Digital Wallet Market |
|
Digital Wallet Market Growth Drivers and Restraints
Growth Drivers:
- Increasing Adoption of Smartphones: Smartphones are becoming cheaper and more affordable to many. Smartphone use has become common worldwide, leading to the digital wallet market because of the availability of internet resources globally. Furthermore, a large portion of the population now owns smartphones, which increases the potential user base for mobile wallet services.
Moreover, smartphones are becoming regarded as indispensable instruments for day-to-day activities, such as banking. Further, the market growth is characterized by the increased use of digital payment modes that offer more convenience to their users. Moreover, to continue their essentiality in the digital age, leading firms are putting money into user-friendly services and applications that are tailored to meet the diverse requirements of smartphone owners.
- Increasing Focus on Contactless Payment: The higher emphasis on using digital wallets has resulted in increased demand, implying that the market will be favorable henceforth. There also continues to be a growth in the popularity of touchless payment systems because individuals need a safer mode since they deviate from the use of paper money or cards. Moreover, digital wallets are provided with almost proximity interaction (NFC) technology, enabling quick and secure contactless transactions by customers using their smartphones on POS machines. It means that prompt payment is more convenient for those who are busy. Paying for goods or services using contactless cards has seen an increased use among people in a bid to maintain cleanliness against spreading diseases like coronavirus. Businesses are spending money on NFC-capable terminals in an attempt to meet customer preferences, which has resulted in the expansion of the market.
Restraints:
- Security Concerns and Cybersecurity Threats: Security concerns have been a major challenge for the digital wallet market worldwide. The security issues include various types of cyberattacks, data breaches, identity theft, phishing, and fraud. In response to these threats, providers have equipped their services with security features such as encryption, tokenization, biometric authentication, and multi-factor verification. However, attackers are also becoming sophisticated, and their activities still frighten users. Many consumers are unwilling to save their critical financial data or personal information in mobile wallets because they are afraid that the latter may be accessed by unauthorized people.
Digital Wallet Market Key Development
- Product Launch: In September 2025, Citi and Dandelion, a Euronet Worldwide, Inc. firm, announced a cooperation to improve cross-border payments. The collaboration is enabled by the integration of Citi’s cross-border payments solution WorldLink® Payment Services with Dandelion’s extensive digital wallet network.
Digital Wallet Market Segmentation
Knowledge Sourcing Intelligence has segmented the Global Digital Wallet Market based on device, application and region:
Digital Wallet Market, by Device
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- PC/ Laptops
- Mobile
Digital Wallet Market, by Application
- Money Transfer
- Recharge
- Movie Booking
- Food Ordering
- Others
Digital Wallet Market, By Region
- North America
- USA
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Others
- Asia Pacific
- China
- India
- Japan
- South Korea
- Taiwan
- Thailand
- Indonesia
- Others
- South America
- Brazil
- Argentina
- Others
- Middle East and Africa (MEA)
- Saudi Arabia
- UAE
- Others
Digital Wallet Market Key Players
- Payment
- Samsung
- Apple Inc.
- Google Llc
- Paypal
- Line Pay Corporation
- Paytm Payment Bank Ltd
- One Mobikwik Systems Limited
- Zelle
- Walmart
- Mastercard
- Wechat (Tencent Holdings Limited)
- Alipay (Alibaba Group)
- Mercadolibre Inc.
- Venmo
- Cash App
- Gopay
- Phonepe
- Rapipay Fintech Private Ltd
- Dana – Pt
- Huawei Pay (Huawei Technologies Co. Ltd)
- Kakao Corporation
- Freecharge Payment Technologies Pvt. Ltd (Axis Bank)
- Picpay
- Grab Holdings Inc. (Grab)
- Consensys (Metamask)
- Imtoken Pte. Ltd.
- Ledger
- Hyperpay
- Coinbase
- Safepal Wallet
- Coin98 Labs
- Mathwallet
- Atomic Wallet
- Phantom
- Alphawallet
- Coinbase
- Trust Wallet
- Identity
- Thales
- Identyum
- Me, Inc.
- Scytales Ab
- Eudi Wallet
- Google Llc
- Trinsic Technologies Inc:
- Apple Inc
- Samsung
- La Wallet
- Digilocker
- Access
- Apple Inc.
- Google LLC
- Samsung
- Lastpass
- Selznick Scientific Software
- The Cleveland Orchestra And Musical Arts Association
- True Tickets
- Wallet Passes
- Paypal
- White Label Platform
- Cellum
- Mastercard
- Amdocs
- Velmie
- Mistral Mobile
- Panamax Inc. (Bankai Group Inc)
- Puresoftware
- Telefonaktiebolaget Lm Ericsson
- Youtap Limited
- Hi Sun Fintech Global Limited
- Comviva Technologies Limited (A Tech Mahindra Company
About Knowledge Sourcing Intelligence (KSI)
Knowledge Sourcing Intelligence (KSI) is a market research and consulting firm headquartered in India. Backed by seasoned industry experts, we offer syndicated reports, customized research, and strategic consulting services. Our proprietary data analytics framework, combined with rigorous primary and secondary research, enables us to deliver high-quality insights that support informed decision-making. Our solutions empower businesses to gain a competitive edge in their markets. With deep expertise across ten key sectors, including ICT, Chemicals, Semiconductors, and Healthcare, we effectively address the diverse needs of our global clientele.
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