Aluminum Systems Market Overview, Size, Share, Growth Factors, Demand and Trends Forecast till 2025

September 13, 2021: Aluminum systems are used as building materials and building sector is the biggest consumer of raw materials and energy. Environmental concerns regarding the design and construction of building applications is getting much significant and in the construction field, the building consumes a great amount of energy. Therefore, as a measure to provide sustainable forms and methods to reduce consumption of energy certain alternatives are to be taken into consideration. On the basis of alloy type, the global aluminum systems market is segmented into wrought aluminum alloy and cast aluminum alloy.

Aluminum being a lightweight material offers the construction industry to design a safe, energy-efficient and an eco-friendly framework. These materials can be used for a wide range of design and manufacturing process and in engineering terms, aluminum is classified as a metal whose basic ingredient is either aluminum or aluminum alloy.

Pure aluminum is a metal commonly used for structural purpose in construction. It becomes high in tensile strength when it is added to other metals such as magnesium or with metalloids. Aluminum alloys are formed with the metals; whose strength is high and reaches a higher threshold. Structural aluminum alloys are categorized in various segments with reference to their chemical composition and the processes. Further, their physical properties such as lightness are much advantageous to the erection phases and can be simplified minimizing the loads and the heavy physical labor.

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From the commercial point of view, the global aluminum systems market is anticipated to grow at a higher CAGR as aluminum alloy accounts for a larger share in the global construction business. Thus, with the market dynamics and driving factors the global market is anticipated to grow at a higher CAGR during the forecast period.

The key driving factors responsible for the growth of aluminum systems market includes growing demand from the end-use industry and technological developments. Additionally, economic development plays a crucial role in augmenting the demand for aluminum systems market. Moreover, the prime factors that enhance the growth of aluminum systems market account as rise in consumption and demand for value-added and sustainable products.

On the basis of alloying element, the global aluminum systems market is segmented into silicon, magnesium, manganese, copper and zinc. Silicon is anticipated to grow at a higher CAGR during the forecast period owing to rise in demand for end-user industries. On the basis of application, the global aluminum systems market is segmented into transportation & logistics, construction, packaging, electrical & electronics and manufactured and machined components.

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On the basis of geographic segmentation, the global aluminum systems market spans North America, Europe, Asia-Pacific, and Middle-East & Africa. North America dominates the global market owing to highly disposable income of people. APAC regions exhibit a trajectory growth during the forecast period owing to large volume production. The key players in the global aluminum systems market include United Company Rusal, Alcoa Inc, Aluminum Corporation of China, Rio Tinto and BHP Billiton.

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Digital Certificate and Public Key Infrastructure Market Trends, Opportunities, Size, Share, Growth, Analysis and Forecast till 2025

September 13, 2021: Digital certificate and public key infrastructure market (PKI) is a highly consolidated market with A&M ruling the roost. Small companies are being taken over by big companies. Digital Encryption of critical parameters such as signatures provides greater transparency and ease of use. Validation of signatures, permissions management and receipts are effective across diverse application platforms. QoS is improving thanks to technology improvements and enhanced application base which is likely to bring gains to the market during forecast period.

Software solutions, gaining in strength and capitalizing on market gains remain as the largest market dominators in terms of market share. BFSI is the strongest and much awaited domain in digital certificate and public key infrastructure market and likely to remain same in forecast period. The digital certificates entail digital signatures drive without physical format thus enhancing market in digital certificate and public key infrastructure market.

Segmentation of digital certificates and public key infrastructure market by solution includes hardware and software. By deployment model, the market includes cloud-based and on-premise. By application, market includes BFSI, Real state, Education and Research, healthcare and lifesciences, human resources, legal, manufacturing, government and defense.

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By geography, market includes North America, Europe, Asia pacific, MEA and Latin America. The market is flourishing and roadblocks exist with lack of technical competence and lack of awareness in digital certificates and public key infrastructure market. The timely implementation of digital certificates and public key infrastructure market reduces paper workload and cost of storage. Encryption is implemented with the help of mathematical keys to secure sensitive data.

With this 2-way authentication using keys at the sender and recipient ends, digital certificate and public key infrastructure signs off as a very secure digital-enabled cryptography recognizing standard or protocol called (public key infrastructure exchange) PKIX over Internet. Concepts of PKI going on in tandem are SSL/TLS, HTTPS, IPsec, PGP/OpenPGP and S/MIME.

KPI works on data authentication via keys-enabled data encryption software via special characters such as hash (#) function depicting mathematical relationship between public and private keys with knowledge of public key in hands of people. The Certification Authority (CA) is the primary issuing authority for keeping data confidential in certificate management such as with Internet Service Providers (ISP) or an Internet Engineering Task Force (IETF). PKI is a central repository for managing data.

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The digital certificates in PKI system are called X 509 certificates and bound by the knowledge of an email id or a domain name server (DNS). Confidentiality is guaranteed by its hierarchical structure and extension of Hash function as a primary data validation key. HTTPS is the standard encryption method in e-commerce and banking applications and B2B commerce. Public key is less of a nuisance in private e-mail communications with both sender and receiver required to be a part of process.

PKI market has great contribution to securing data over the Internet from identity-barging and eavesdropping. PKI has proven to be one of the most reliable methods in secure data transmission but some impediments exist in World Wide Web with respect to procedural delays. Procedures have to be defined at very start in order to complete secure data transmission. Four types of hierarchical models exist in PKI infrastructure market. They are strict hierarchy, loose hierarchy, hub and spoke and web of trust. CA must not have any loopholes which is a criterion for establishing the PKI model. Key industries in digital certificates and public key infrastructure market include Verisign, Inc., Comodo, GoDaddy Group, and Entrust Datacard Corp.

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Circuit Breaker, Fuse and Relay Market Overview, Size, Share, Growth Factors, Demand and Trends Forecast till 2025

September 13, 2021: The global circuit breakers, fuse, and relays market is expected to witness a steady growth owing to their increasing utilization in the power sector. They have several applications pertaining to generation, distribution and transmission of power. Significant growth in the global market for circuit breakers, fuse and relays is projected owing to increase in demand for energy in the forecast period. This significant rise in the demand for electricity has led to increasing need for T&D networks which will in turn have a positive impact on the circuit breakers, protective fuse and relay market. The recent increase in the demand for electricity can be attributed to factors such as rapid industrialization, increasing population, and urbanization.

Key factors such as adoption of automotive electronics are expected to fuel prospects of market growth in the foreseeable future. Increase in the demand for automotive electronics is a significant trend that is expected to drive the demand for circuit breakers, fuses, and relays from the automotive industry. The implementation of electronic components in vehicles facilitates the use of circuit breakers, fuses, and relays for the safety of the electronic components. Due to the popularity of augmented demand for advanced in-car systems such as advanced driver assistance systems, premium audio systems infotainment systems, on-board diagnostic systems, and electronic transmission the global circuit breakers, fuse and relay industry is projected to witness a positive market growth.

With the adoption of circuit breakers, fuse and relay systems spread across various consumer segments with capabilities pertaining to electronic and electric sector, this market is expected to witness an extremely competitive environment. Global circuit breaker, fuse and relay industry is highly fragmented with the presence of large number of small and regional vendors. Need to have a diverse product portfolio and increased market penetration has led prominent vendors in the market to integrate optimized technology into their products.

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A protective relay ensures reliable and safe operation of substations by tripping the circuit breaker in the case of a fault. Rise in the need for modernization of substations propels the demand for protective relays. Growing automated substations market on account of reduced operational costs and improved grid security is expected to boost the growth in the global circuit breaker, relay and fuse industry,

The market on the basis of product is segmented into three categories, Circuit breaker, Fuse and Relay. The circuit breaker product segment is projected to capture an impressive market share owing to growing demand for electricity and expanding T&D networks that will contribute to the growth of this market segment until the end of estimated period. Further, with the rising demand for alternative electrical transmission systems, the market for circuit breakers will have a positive demand until the end of the forecast period. A key substitute for mechanical relay is solid state devices on account of their popularity owing to its ability to interrupt currents that is synchronous to alternating current waveforms. Solid state devices interrupt with high alternating current flow and simultaneously avoid high voltage generation.

Relays are segmented on the basis of applications into four categories. Feeder protection, Motor protection, Transmission line, and Transformer protection. The feeder protection segment gained the largest market share on account of growing demand for electricity coupled with increasing demand for establishing and revamping distribution and transmission networks. The above mentioned factors therefore have a positive impact on the market and have the ability to propel the demand for protective relays However, high cost of raw materials such as gold and silver used for component wiring are expected to hamper growth.

Dominant players in this market include Americas, APAC and EMEA. Asia pacific was the largest market for circuit breakers, fuses, and relays, and is estimated to retain its market position attributing to investments in the power infrastructure. Growth in construction and automotive market is a key factor that is expected to drive the market growth in Asia Pacific in the forecast period Owing to these factors the growth rate in APAC is expected to reach a rate of over 7%

In the mechanical relays market, APAC was the market leader in 2015, and is expected to contribute to the market with the same trend over the next seven years attributed to favorable developments in distribution and transmission network in countries such as India, China, and the Philippines. Growing market for power generation from renewable sources of energy offer huge opportunities to differentiate their products from other major players in this market and play a key role in the growth of demand of relay market

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The market for circuit breakers, fuse and relay market in North America is expected to grow significantly in the future on account of rising demand for electricity. Significant investment in Substantial investments in transmission grid resulted in suppressed need of replacing worn out energy infrastructure. Further, power generation sources such as wind and solar energy would require greater distribution and transmission and investment. This would provide greater avenues for growth opportunities in circuit breakers fuse and relay market in North America

Key vendors in the market include GE, ABB, Siemens, Schneider. Other vendors in this market are Camsco Electric, Honeywell International, Cooper Industries, Itron, Kirloskar Electric, Littelfuse, L&T, Mitsubishi Electric, Rockwell Automation, NR Electric, S&C Electric, Sensata Technologies and Schurter Holding.

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Medical Automation Market Overview, Trends, Competitive Landscape, Growth Outlook And Forecast till 2024

September 09, 2021: The global medical automation market in 2015 was estimated to be at USD 34.21 billion. The major factors impelling the growth are rising adoption rate of automated equipment for therapy and diagnosis of chronic disorders. According to a report by WHO, chronic diseases are considered to be the leading cause of mortality globally. These diseases include respiratory diseases, diabetes, heart disease, stroke and cancer which accounts for around 60% of deaths.

As per a research published by NCBI, around 40.5% of the population in U.S. is predicted to suffer from one or more than one cardiovascular disease by 2030, leading to expansion of the patient base. Increasing adoption of automated devices can be attributed to the rising demands for reproducibility and accuracy in wide array of medical procedures.

Moreover, the rise in laboratory automation and benefits associated with automation in pharmacies is broadening the growth prospects further. These benefits include such as reliability, speed, reduction of errors in huge sampling and greater cost efficiency which is anticipated to positively impact future demand over the coming years. Furthermore, advent of technologically advanced products such as usage of robots in radio surgery, material handling in hospitals and others, are factors predicted to drive growth potential.

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Application Insights

The largest share of over 35.0% in application segment was held by therapeutic automation in 2015. The dominance can be attributed to consistent rise in the adoption rate of automated devices such as therapeutic dispensing systems, defibrillators, surgical robots, automated microscopes, portable imaging device and orthopedic navigation systems.

The high demand for automation while performing minimally invasive surgeries is expected to widen the scope for adoption of robotic surgical systems thereby fueling to the medical automation industry over the coming years. The advantages offered by these systems such as increase in process efficiency and enhanced patient safety. In addition, they can be used as standard emergency care which is predicted to drive the growth prospects and further broaden the penetration of these systems in future.

End-use Insights

The segment was dominated by hospitals & diagnostics centers segment in 2015 with a share of more than 25.0%. The dominance can be attributed to growing usage of automated devices in pharmacies & laboratories sufficing various requirements in diagnostic procedures.

Automation in hospital segment, particularly in tier 2 & 3 cities of emerging economies of the Asia Pacific region such as India is presenting with lucrative opportunities. For example, the Indian hospitals including Fortis and Apollo are aiming at providing automated healthcare services which are operational in the region.

Moreover, presence of various government agencies such as National Patient Safety Agency is striving for improvement in penetration of automation in hospitals, which is responsible for greater share garnered by hospitals.

Regional Insights

A substantial revenue share of over 43.0% was held by North America in 2015 as a consequence of increasing healthcare expenditure by government healthcare and life science sectors to promote research. Europe held the second largest market share owing to demographic shift in geriatric patient base, possessing greater susceptibility to chronic disorders thereby pushing demand for automated point-of-care testing.

Additionally, presence of various government organizations including Medicine and Healthcare Products Regulatory Agency which validates automated systems in pharmacies and devices with the regulations of the region is predicted to provide growth opportunities in the coming years. Asia Pacific is anticipated to witness attractive growth opportunities during the forecast period owing to the frequent upgradation in healthcare infrastructure, growing patient awareness levels and prevalence of cardiovascular diseases, orthopedic disorders, cancer and diabetes.

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Competitive Insights

The prominent players include Danaher Corporation, Koninklijke Philips N.V., Siemens AG, Stryker Corporation, Intuitive Surgical Inc., GE Healthcare, Swisslog Holding AG, Medtronic Plc., Tecan Group Ltd., Accuray Inc. Competition in the industry is high as a consequence of prominent players undertaking strategic initiatives such as acquisitions, technological advancements, new product launch and collaborations. For instance, Tecan acquired Sias AG in November 2015, to expand the business for providing mechanization solution for laboratory.

Moreover, the competitive nature of the industry is also a result of high amount of investments in R&D, contracts and distributive agreements, which are anticipated to keep industry rivalry high throughout the forecast period. For instance, Accuray Inc. and medPhoton GmbH entered in collaboration in May 2016, to strengthen their sales and distribution network.

Market Segment:

Global Medical Automation Application Outlook (Revenue, USD Million, 2014 - 2024)

        • Diagnostic & Monitoring Automation

                • Automated imaging & analysis

                • Point-of-care testing

        • Therapeutic Automation

                • Surgical Automation

                • Non-surgical Automation

        • Lab and Pharmacy Automation

                • Laboratory Automation

                • Pharmacy Automation

        • Medical Logistics and Training

Global Medical Automation End-use Outlook (Revenue, USD Million, 2014 - 2024)

        • Hospitals & Diagnostic Centers

        • Research Laboratories & Institutes

        • Pharmacies

        • Home & Ambulatory Care

Medical Automation Regional Outlook (Revenue, USD Million, 2014 - 2024)

        • North America

                • U.S.

                • Canada

        • Europe

                • UK

                • Germany

        • Asia Pacific

                • Japan

                • China

                • India

        • Latin America

                • Mexico

                • Brazil

        • MEA

                • South Africa

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Flame Retardant Market Outlook, Competitive Strategies Analysis and Forecast Report till 2025

September 09, 2021: The global flame retardant market size was valued over USD 6.27 billion in 2015. Flame retardant is a key component reducing the impact of fires on people, property, and environment. Flame retardants either prevent the fire from starting or slow it down significantly. The growth in industries such as construction, transportation, and electrical & electronics is expected to propel market demand over the forecast period.

Governments around the world have framed stringent regulations aimed at reducing destruction caused to life and property due to fire. Government regulation pressure and growing awareness regarding fire safety among industry participants are expected to boost market demand.

Product Insights

The major product segments in the market are halogenated flame retardants and nonhalogenated flame retardants. Nonhalogenated product type was the major product segment in 2015 with demand exceeding 1,400 kilo tons. The consumption of these products is expected to grow rapidly owing to growing concerns about pollution caused by halogenated type.

Brominated products dominated the halogenated segment and accounted for more than 40% market share in 2015. In nonhalogenated type, Aluminum hydroxide was the largest product segment and its growing application in end-use industries is expected to augment demand for these products.

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Application Insights

Polyolefin was the largest application segment in 2015 and accounted for more than 20% of the overall market. The high flame retardant loading capacity exhibited by polyolefins is responsible for their growing demand in end-use industries such as construction and electrical. The growing demand for high-quality coatings is expected to boost the application of epoxy resins. Epoxy resins consumption was estimated to be around 600 kilotons in 2015.

End-Use Insights

Flame retardants are used to reduce this risk of fire in a wide range of electronic products such as smartphones, laptops, refrigerators, TV sets, printed wiring boards, and vacuum cleaners. Rising disposable income is boosting the growth of electrical & electronics segment owing to which the demand for flame retardants is expected to be high in this application segment.

Construction end use segment is anticipated to grow at a CAGR of 6.8% over the forecast period on account of growing investments in developing countries. Fire safety and prevention is the primary concern of the consumers in construction, the demand is expected to grow rapidly over the forecast period.

Regional Insights

Asia Pacific was the major regional segment and accounted for over 45% of total volume in 2015. High demand from countries such as China, Japan, and India are benefitting the market growth. The upcoming electrical & electronics manufacturing hubs coupled with a positive outlook for construction sector is expected to drive the flame retardant market over the forecast period.

The growing pressure of regulatory agencies such as REACH and European Flame Retardant Association (EFRA) is driving the demand for these products in Europe. Europe consumed over 600 kilotons in 2015. The presence of a large number of end-use industries is expected to boost market growth in this region.

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Competitive Insights

Key industry players include BASF, Albemarle, Chemtura, ICL, Clariant International Ltd., Italmatch Chemicals, Huber Engineered Materials, DSM & Thor Group Ltd. Major industry participants have focused their efforts on the acquisition of local companies to increase their global footprint. Companies are investing heavily in product innovation to gain market share.

Market Segment:

Product Outlook (Volume, Kilo Tons, Revenue; USD Million, 2014 - 2025)

        • Halogenated Flame Retardants

                • Brominated FR

                • Chlorinated Phosphates

                • Antimony Trioxide

                • Others

        • Non Halogenated Flame Retardants

                • Aluminum Hydroxide

                • Magnesium Dihydroxide

                • Phosphorous Based

                • Others

Application Outlook (Volume, Kilo Tons, Revenue; USD Million, 2014 - 2025)

        • Polyolefins

        • Epoxy resins

        • Unsaturated Polyester

        • Polyvinyl Chloride

        • Engineering Thermoplastics

        • Rubber

        • Styrenics

        • Others

End-Use Outlook (Volume, Kilo Tons, Revenue; USD Million, 2014 - 2025)

        • Construction

        • Transportation

        • Electrical & Electronics

        • Others

Regional Outlook (Volume, Kilo Tons, Revenue; USD Million, 2014 - 2025)

        • North America

                • U.S

        • Europe

                • Germany

                • France

                • UK

        • Asia Pacific

                • China

                • Japan

                • India

        • Central & South America

        • Middle East and Africa

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Preclinical Imaging Market Overview, Trends, Competitive Landscape, Growth Outlook And Forecast till 2024

September 09, 2021: The global Preclinical Imaging Market size was worth USD 1.8 billion in 2015, which is anticipated to grow at a CAGR of more than 8.1% during the forecast period. Constant technological advancements and increasing expenditure on research and development are some of the leading factors for such huge market size with more and more pharmaceutical companies targeting this market. Similarly, rise in the number of contract research manufacturing and increasing presence of medical device companies that comply well with the pre-clinical studies in in-vivo experiments would further drive the market growth.

Use of various computerized database systems with advanced technology has increased over the years due to implementation of stringent laws and policies on animal testing which prevents exploitation of animals. Pre-clinical imaging has led to extraction of extremely detailed images of organs, cells, tissues and their anatomical features before and after the drug intake. Such methods of imaging along with micro-dosing, in-vitro tests have become an alternative for conventional methods.

Preclinical imaging systems include MRI, CT scan that is categorized under non-invasive techniques and possesses great potential to grow in the coming years. Some of the major factors that may challenge the acceleration of the market is increased cost, lack of skilled staff, underdeveloped infrastructure and non-availability such technically advanced devices in the third world countries.

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Government bodies of developing countries such as Japan, Mexico, and Brazil, are making huge investments to spread awareness about the use of pre-clinical devices for research studies, and thereby focusing on quality and safety. Regions such as Latin America, Middle East and Asia Pacific are witnessing increase in foreign investments, which is leading to greater revenue generation, for the market growth.

Segment Insights

The optical imaging segment captured the largest market share in 2015 due to increased use of small animals in a number of animal research projects.

The fastest growth rate in the market was exhibited by multi-modal systems segment during the forecast period due to enhancement in integrated systems, which enable multiple screening in single device. It helps to achieve a detailed digital imaging of anatomical features for the organs of animals. A significant share of the market is being shared by the reagent segment, which showed higher frequency of purchases as compared to other segments.

Introduction of various features in imaging devices have resulted in increased number of applications. The development of various cancer therapies has benefitted from such up gradations in the technology, which makes it useful for numerous purposes. Other sectors, which have gained from the use pre-clinical imaging, includes obstetrics, gynaecology and cardiology.

Regional Insights

North America dominated the pre-clinical imaging industry capturing the largest revenue share in 2015, due to the fact that the region has maximum number of skilled workmen, developed infrastructure, higher acceptance and adoption of advanced technical devices and presence of large number of research projects which are being carried out.

In some regions including Canada, there have been various government initiatives and policies, which have helped in enhancement of research and development work in the form of funding and exemption from tax. All these factors can be attributed to conclude that North America will be a dominating region in this market, in terms of revenue.

Factors such as increased government funding, liberal government laws, growing adoption of contract research organisations, affordable research cost is contributing towards the highest CAGR of Asia Pacific region. India and China are the key leaders in the Asia Pacific region, making it one of the most booming regions for the preclinical imaging market.

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Competitive Insights

The global pre-clinical imaging market consists of international as well as local players. The capital required for the companies to enter in this market is comparatively lesser. The major players in this market are Siemens A.G., TriFoil Imaging, PerkinElmer, Inc., Mediso Ltd., General Electric(GE), Bruker Corporation, VisualSonics Inc. (Fujifilm), Mediso Ltd., MILabs B.V., and Agilent Technologies.

A huge pool of companies is focused towards advancing in the pre-clinical imaging market after thorough research and development in this sector. The most common strategy opted by companies are through mergers acquisitions and collaboration in order to gain maximum share in the market.

Market Segment:

Preclinical imaging product outlook, 2014 & 2024 (USD Billion)

        • Medical Devices

                • CT Imaging

                • MRI Imaging

                • PET/SPECT Imaging

                • Multimodal Imaging

                • Optical Imaging

                • Ultrasound Imaging

                • Photoacoustic (PAT) Imaging

        • Reagents

        • Services

Preclinical imaging regional outlook, 2014 & 2024 (USD Billion)

        • North America

                • U.S. Preclinical Imaging Market by Product Type

                • Canada Preclinical Imaging Market by Product Type

        • Europe

                • Germany Preclinical Imaging Market by Product Type

                • France Preclinical Imaging Market by Product Type

        • Asia Pacific

                • China Preclinical Imaging Market by Product Type

                • India Preclinical Imaging Market by Product Type

        • Latin America

                • Brazil Preclinical Imaging Market by Product Type

                • Mexico Preclinical Imaging Market by Product Type

        • MEA

                • South Africa Preclinical Imaging Market by Product Type

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Mobile Wallet Market Outlook, Competitive Strategies Analysis and Forecast Report till 2024

September 07, 2021: The advancement of mobile phone technology is expected to drive mobile wallet market or digital wallet industry in near future. In 2015, mobile wallet market size was valued USD 592.45 billion worldwide. The boundless Smartphone use and its increasing penetration level will favour mobile wallet market. The market has emerged as a result of technological advancement which enhances customer experience. Consumer payment credentials are saved and are made available at point of sale. NFC has made significant change in payment technologies.

Mobile wallet market allows consumers to manage their account and transaction from any location at affordable price. Banks, technology vendors and payment service providers in association with main players are developing platform and infrastructure to reinforce customer experience. To differentiate the business from competitors key players have provided features such as mobile vouchers and services, digital charity scheme, dynamic currency conversion. Value added service (VAS) is acting as driving force for cashless payment.

Security issues and privacy concerns can act as restraint in this industry. Lack of government initiatives and supervision is another barrier for growth in this industry over a forecasted period.

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"Proximity product type is expected to portray highest growth over the forecast period"

In 2014 mobile wallet segment had generated highest revenue and throughout the forecasted period it will dominate the market due to increase in cashless payment over a communication network.

Due to increase in penetration of NFC enabled smart phones across the globe proximity product type is expected to have high growth rate. Flexibility feature will lead markets growth.

"Government initiatives for modernizing the transportation and adoption of advanced technology has contributed public transportation application to have highest growth over the projected period"

Mobile wallet market has applications in different segment such as retail, restaurant, public transportation and vending machine. According to revenue generated in 2015 its application in retail segment is expected to dominate the business. Better consumer experience and increasing number of smart phones will push the demand.

Vending machine allows customers to make cashless transactions that will encourage consumers to purchase regularly. Devices with NFC integration provide better consumer experience along with security feature that will drive retailers to use this technology. Countries such as India, China and Indonesia have high vending machine usage that will improve the demand for application segments.

Low processing fees through NFC technology will achieve cost and operational efficiency. Retailers accepting cashless payment will attain consumer data opportunities and loyalty. Special promotions and loyalty reward will help retailer to improve relations with mobile customers.

"Increasing penetration of NFC enabled mobile phones in Asia Pacific has contributed to significant growth from 2016 to 2024"

By 2024, Asia pacific region is predicted to generate key revenue and will have highest share among other regions. Large number of service providers and consumer preferences in this region are important factors for growth of mobile wallet market. In countries like India and China due to increase in disposable income and consumer needs mobile wallet market will have significant growth over the forecasted period.

Government initiatives likes make in India and Digital India in country is expected to boost the penetration of mobile phones and other consumer electronics which will result in growing demand of industry.

Development in various applications such as NFC-based transactions, ticketing and access control in European market is anticipated over the forecasted period. Increase in number of NFC tags implementation has led to use of NFC readers. It is forecasted that Restaurant applications and public transportation will have key share in European market

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“Building trust among consumers is expected to increase the adoption rate"

Bharti Airtel limited, Apple Inc (US), and American express company are Major competitors in mobile wallet market. These key players are continuously investing in R&D to develop innovative platform for users so as to gain market share.

Market Segment:

Mobile Wallet Product Outlook (Revenue, USD Billion, 2014 - 2024)

       • Proximity

       • Remote

Mobile Wallet Application Outlook (Revenue, USD Billion, 2014 - 2024)

       • Retail

       • Vending Machine

       • Public Transportation

       • Restaurants

Mobile Wallet Regional Outlook (Revenue, USD Billion, 2014 - 2024)

       • North America

       • Europe

       • Asia Pacific

       • Latin America

       • MEA

Get in touch

At Million Insights, we work with the aim to reach the highest levels of customer satisfaction. Our representatives strive to understand diverse client requirements and cater to the same with the most innovative and functional solutions.

Contact Person: 

Ryan Manuel

Research Support Specialist, USA

Email: ryan@millioninsights.com