Vietnam Mobile Wallet market is expected
to grow at an impressive double-digit CAGR in the forecast period, 2023-2027.
Mobile wallet is in high demand as they provide a contactless option to
businesses and individuals and helps in maintaining the transparency in
financial transactions. Financial institutions and banks are providing mobile
payment services to customers to enhance the consumer experience and to ease
and fasten the process of financial transactions by proving remote and secure
access to the accounts. Mobile wallets eliminate the need of carrying cash,
credit cards, and debit cards for paying for products and services and provide
a safer method for cashless transactions. The growing adoption of Mobile Wallet
in the prominent industry verticals including BFSI, transportation, retail,
entertainment & media, amongst others is contributing significantly to fuel
the Mobile Wallet market growth. The rise in the disposable income among
middle-class families is enabling them to increase their expenditure capacity
to purchase electronic devices for purchasing products and services via online
channels which in turn is influencing the Mobile Wallet market growth. The
increasing adoption of Mobile Wallet services and the growth in the usage of
RFID, host-card emulation technology for better experience while making
transactions is expected to accelerate the Mobile Wallet market growth in the
next five years. The growing demand for Mobile Wallets while paying through
mobile web payments as the users only require a smartphone to make the payment
and is faster than the other methods thereby accelerating the growth of the
Vietnam Mobile Wallet market is
segmented into type, technology, application, industry vertical, regional
distribution, and company. Based on the technology, the market can be divided
into near field communication (NFC), QR code, digital only, and text based. The
near field communication segment is expected to hold a major market share in
the forecast period, 2023-2027 owing to the several benefits offered such as
high security, and faster transactions which ensure a hassle-free
The major players operating in the Vietnam
Mobile Wallet market are MoMo, VNG Corporation, Viettel,
AirPay, VNPay, GrabPay, ManagePay Systems, Payoo, Moca, SenPay, and others.
Major companies are developing advanced technologies and launching new services
to stay competitive in the market. Other competitive strategies include mergers
& acquisitions and new service developments.
Objective of the Study:
- To analyze the historical growth of the market size of Vietnam
Mobile Wallet market from 2017 to 2020.
- To estimate and forecast the market size of Vietnam Mobile Wallet market
from 2021 to 2027 and growth rate until 2027.
- To classify and forecast Vietnam Mobile Wallet market based on type,
technology, application, industry vertical, regional distribution, and
- To identify dominant region or segment in the Vietnam Mobile Wallet.
- To identify drivers and challenges for Vietnam Mobile Wallet.
- To examine competitive developments such as expansions, new product
launches, mergers & acquisitions, etc., in Vietnam Mobile Wallet.
- To identify and analyze the profile of leading players operating in
Vietnam Mobile Wallet.
- To identify key sustainable strategies adopted by market players in
Vietnam Mobile Wallet market.
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TechSci Research performed both primary as well as exhaustive
secondary research for this study. Initially, TechSci Research sourced a list
of service providers across the globe. Subsequently, TechSci Research conducted
primary research surveys with the identified companies. While interviewing, the
respondents were also enquired about their competitors. Through this technique,
TechSci Research could include the service providers which could not be
identified due to the limitations of secondary research. TechSci Research
analyzed the service providers, distribution channels and presence of all major
players across the globe.
Research calculated the market size of Vietnam Mobile Wallet market using a bottom-up approach, wherein data for various end-user
segments was recorded and forecast for the future years. TechSci Research
sourced these values from the industry experts and company representatives and
externally validated through analyzing historical data of these product types
and applications for getting an appropriate, overall market size. Various
secondary sources such as company websites, news articles, press releases,
company annual reports, investor presentations and financial reports were also studied
by TechSci Research.
Key Target Audience:
- Mobile wallet service provider companies
- Market research and consulting firms
- Government bodies such as regulating
authorities and policy makers
- Organizations, forums, and alliances related to Mobile
The study is useful in providing answers to several critical
questions that are important for the industry stakeholders such as service
providers, suppliers and partners, end users, etc., besides allowing them in
strategizing investments and capitalizing on market opportunities.
Revenue in USD Million and CAGR for 2017-2021 and 2022E-2027F
forecast, company share, competitive landscape, growth factors, and trends
Key companies profiled
MoMo, VNG Corporation, Viettel, AirPay, VNPay, GrabPay,
ManagePay Systems, Payoo, Moca, SenPay
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In this report, Vietnam Mobile Wallet market
has been segmented into following categories, in addition to the industry
trends which have also been detailed below:
Vietnam Mobile Wallet Market, By Type:
- Vietnam Mobile Wallet Market, By Technology:
Field Communication (NFC)
- QR Code
- Vietnam Mobile Wallet Market, By Application:
- Vietnam Mobile Wallet Market, By Industry Vertical:
- Vietnam Mobile Wallet Market, By Region:
Company Profiles: Detailed analysis of the major
companies present in Vietnam Mobile Wallet market.
With the given market data, TechSci Research offers
customizations according to a company’s specific needs. The following
customization options are available for the report:
- Detailed analysis and profiling of
additional market players (up to five).
Vietnam Mobile Wallet market is an upcoming report to be released soon.
If you wish an early delivery of this report or want to confirm the date of
release, please contact us at [email protected]
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