Mobile Identity Wallet Market

Mobile Identity Wallet Market: - An Overview

Mobile identity wallet holds electronic identification documents instead of cash. The mobile identity wallet allows people to access and store the digital versions of identity documents like identity card, health cards, and driving license directly on the smartphone, combining multiple forms of identification in one convenient place. Mobile identity wallet is designed to be used for proof of identity during online and in-person interactions. Mobile identity wallets create a citizen-centric, future proof ecosystem, meeting the needs of verification and authentication across the online and physical world.

Mobile Identity Wallet Market: - Impact Analysis of COVID-19 Pandemic

COVID-19 pandemic is spreading worldwide and has impact on global economy. Consumers and businesses are adopting mobile wallets or applications for making secure transactions, for online authentication to stop the spread of COVID-19. The demand for mobile wallets is increasing in pandemic as these wallets helps to maintain social distancing and prevent from spreading the virus which can be passed through physical identity cards or cash. Due to increasing adoption of digital payments, the market for mobile wallets is estimated to grow by 3X in 2020, as compared to 2019. 

Mobile Identity Wallet Market: - Market Dynamics

Increasing Adoption of Mobile Wallets is Driving the Market Growth

Mobile wallet is a mobile application that mimics the actual physical wallet and using this wallet user can send money to other users, can store documents for proof identity. Mobile wallets support seamless authentication online. Using mobile wallets user can pay utility bills, buy tickets, get rewards, and can access range of e-services like welfare claims and completing online tax returns. Using mobile wallet helps user to prevent from ID theft, and fraud. Hence, to prevent from fraudulent act and ID theft and for making secure transactions the adoption of mobile wallets is increasing.

Mobile Identity Wallet Market: - Segmentation

By Component	Mobile Identity Platform Services Consulting Support & Maintenance
By Application	Online Authentication ID Proofing In-person Contactless ID verification Age Verification
By End user	Government Citizen Public & Private eService Providers

 

Mobile Identity Wallet Market: - Regional Analysis

Mobile identity wallet market in North America dominated in 2019, owing to increasing adoption of mobile wallets for authentication, and for making secure transactions. Mobile Identity wallet will grow with highest CAGR in South Asia & Pacific region, owing to increasing smartphone penetration that provides opportunity to operators in the region to introduce advanced mobile wallet services, as well as rise in digital payments systems.

Mobile Identity Wallet Market: - Key Players

The key players in the mobile identity wallet market are Thales Group, Google LLC, Folio Technologies, Ping Identity, Trulioo, IDEMIA, among others.

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain of the global Mobile Identity Wallet market. The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with Mobile Identity Wallet market attractiveness as per segments. The report on Mobile Identity Wallet market also maps the qualitative impact of various factors on Mobile Identity Wallet market segments and geographies.

Regional analysis includes:

• North America (U.S., Canada)
• Latin America (Mexico, Brazil, Rest of Latin America)
• Europe (Germany, Italy, U.K, Spain, France, BENELUX, Russia, Rest of Europe)
• East Asia (China, Japan, & South Korea)
• South Asia & Pacific (India, ASEAN, Australia & New Zealand, Rest of  South Asia Pacific)
• Middle East and Africa (GCC Countries, Turkey, South Africa, Rest of MEA)

Mobile Identity Wallet Market- Report Highlights

• A detailed overview of parent market of Mobile Identity Wallet market
• Changing Mobile Identity Wallet market dynamics in the industry
• In-depth segmentation of the Mobile Identity Wallet market
• Historical, current, and projected Mobile Identity Wallet market size by value
• Recent industry trends and developments in Mobile Identity Wallet market
• Competitive landscape of the Mobile Identity Wallet market
• Strategies for key players in Mobile Identity Wallet and solutions and services offered
• Potential and niche segments, geographical regions exhibiting promising growth
• A neutral perspective on Mobile Identity Wallet market performance
• Must-have information for Mobile Identity Wallet market players to sustain and enhance their market footprint

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