Mobile Wallet (NFC, Digital Wallet) Market

Mobile wallet is a system that allows consumers to pay by phone during travel, from any location, anytime. The global mobile wallet market is expected to grow at a CAGR of 127.5% from 2012 to 2020. The key driver for the growth of the market is it to provide consumers with greater convenience for payment. It is estimated that more than 70% smartphone users are willing to adopt mobile payment modes and 15% have already completed the adoption.

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However, the payment method can be used till the mobile has power and battery backup. Therefore, when the battery of the mobile is down, the mobile wallet cannot be used. This is one of the key restraints for the growth of the market. Smartphone users have multiple applications on their phones which consume power and the chances of battery outages are high. This limits the usability of the mobile wallet application. An important challenge for technology providers is to make the advances in the emerging NFC technology, as it is expected to have high demand among consumers.

Some of the key players profiled in this report are American Express, Apple Inc., AT&T Inc., Blackberry, First Data, Google, Sprint, Samsung, MasterCard and Visa.

mHealth Market

Currently, mobile penetration is more than 100% in developed markets and is rapidly increasing in developing markets such as Asia-Pacific, Latin America and Africa. Moreover, increasing exposure to smartphones along with 3G and 4G networks will further boost the adoption of mobile devices in most sectors, especially in healthcare systems. Furthermore, shift is observed from hospital-care to personal-care, as Mobile Healthcare systems are providing seamless support and care to patients irrespective of their locations. On top of that, the advent of new generation of connected medical devices is making it easier for healthcare providers to serve patients effectively and at a lower cost. Mobile medical devices provides adequate and systematic recording of biomedical signals such as respiratory parameters, glucose analysis, electrocardiogram (ECG) recordings and blood pressure measurements irrespective of the location. Thus, major factors that mobile health market players use to differentiate their product and services are portability, automation, ease of use and customization. These have proved to be an optimal solution for monitoring and diagnosing of chronic conditions. Thus, mobile access is expected to become ubiquitous part of healthcare system over next few years, worldwide, just like healthcare access.

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Increasing number of active subscribers and growing coverage of mobile networks is primarily driving the demand for smart and connected devices, which in turn is steering the growth of Mobile Healthcare Market. On top of that, increase in incidence of lifestyle driven diseases, namely diabetes and obesity, which is enabling the mobile healthcare devices market growth. In spite of technological advancement in medical devices and rise in per capita income, the higher cost of healthcare systems poses challenges such as affordability and complexity worldwide. In developed markets, due to rise in chronic diseases, per capita expenditure on healthcare is increasing at a faster rate than increase in income level and inflation rate. Yet, there has been no corresponding increase in quality of healthcare services rendered in many countries, thus can be treated as an opportunity for Mobile Health Market. On the other hand, developing countries are still struggling to provide adequate healthcare solutions to their citizens.