Global E-Wallet Market is valued at approximately USD 102.16 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 21.97% over the forecast period 2024-2032. E-wallets, also known as digital wallets, have revolutionized the way transactions are conducted by offering a faster, more secure alternative to cash transactions. The increased adoption of contactless payments, coupled with the burgeoning smartphone market, has been pivotal in driving the growth of the e-wallet market. E-wallets provide numerous benefits, including ease of use, convenience, and real-time transaction tracking, making them highly attractive to consumers. These digital wallets allow users to make transactions such as mobile recharges, bill payments, and money transfers seamlessly. The growing preference for contactless transactions has further bolstered the market, with consumers increasingly favoring digital payment methods over traditional cash payments.

The growing preference for contactless transactions is significantly driving demand for the e-wallet market. As consumers increasingly seek convenient and secure ways to manage their finances, e-wallets offer a seamless alternative to traditional payment methods. The rise in mobile device usage and advancements in digital payment technologies have made e-wallets more accessible and user-friendly. Additionally, heightened awareness of hygiene and safety concerns, accelerated by recent global health events, has shifted consumer behavior towards touch-free transactions. E-wallets provide a swift, secure, and contactless solution for both online and in-person purchases, enhancing user experience and reducing physical contact. This shift is catalyzing widespread adoption, propelling the e-wallet market's growth and transforming how individuals handle transactions in the digital age.

The key regions considered for the Global E-Wallet Market study include Asia-Pacific, North America, Europe, Latin America, and Middle East & Africa. In 2023, North America dominates the market due to the high adoption rate of smartphones and tablets, particularly among the younger generation. The region's strong consumer preference for convenient and secure payment solutions fuels the growth of e-wallets, with major players and innovative startups driving market expansion. Additionally, North America's robust financial sector and supportive regulatory environment further facilitate the adoption of digital wallets. High levels of disposable income and a tech-savvy population also contribute to the region's leadership in e-wallet usage. This dominance is reflected in significant investments, extensive partnerships with retailers, and a high rate of digital payment adoption among consumers and businesses alike. Europe holds the second-largest market share, driven by developments in NFC-based applications and contactless transactions. The Asia-Pacific region is expected to grow at the fastest CAGR, fuelled by a large population, rising smartphone usage, and the booming e-commerce sector.

Major market players included in this report are:
DAMEN ePayment
Samsung Electronics Co. Ltd.
KFH
Google Inc.
Alipay
Mastercard Incorporated
Amazon Web Services Inc.
PayPal Holdings
American Express Banking Corp.
Apple Inc.
AT&T Inc.
The detailed segments and sub-segment of the market are explained below:
By Technology:
Near Field Communication
QR Code
Text-based Service
Digital Only
By Application:
Retail & E-Commerce
Hospitality & Transportation
Banking
Vending Machine
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
Saudi Arabia
South Africa
RoMEA
Years considered for the study are as follows:
Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032
Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.