Smart-Connected Wallets Industry Continues to Grow Against the Backdrop of Increased Internet Penetration, Unveils Fact.MR

PRESS RELEASE
Published April 22, 2023

Rising smartphone penetration and internet penetration in developing and developed countries are fueling the growth of the global smart connected wallet market. Apart from that, the increase in wallet theft incidents is driving the global market. With the increasing use of credit and debit cards, security concerns regarding wallet theft and card fraud have arisen. This factor contributes to the growth of the global smart connected his wallet market.

According to a new industry analysis by Fact.MR, the global smart connected wallet market is expected to reach a valuation of US$550 million by 2032, expanding at a CAGR of 6.9% from 2022 to 2032. intelligence provider.

Download a sample copy of this report:
https://www.factmr.com/connectus/sample?flag=S&rep_id=8363?AS

A smart connected wallet is a smartphone-connected wallet that helps users protect their cash, debit and credit cards from theft. A smart connected wallet also allows the user to track the wallet via her GPS. In addition to these features, many smart connected wallets include built-in power banks, thief detection cameras, Wi-Fi hotspots, and other advanced features.

In addition, growing customer knowledge of the benefits of smart connected wallets over other wallets, such as GPS tracking, RFID protection, etc., is driving market expansion. RFID integration into wallets helps with data security . increase. Wallet RFID blocks radio waves, making access to your cards impossible.

To attract new customers, market players are increasing their investment in product development operations and offering unique offerings. As a result, the market is increasingly adopting new and creative smart connected wallet features such as fingerprint authentication and upgraded interiors.

Key takeaways from market research

  • The global smart connected wallet market will be worth US$280 million in 2023
  • Global demand for smart connected wallets is estimated to grow at a CAGR of 6.9% during the forecast period (2023-2033).
  • The global market is projected to reach US$550 million by 2033.
  • The demand for Wi-Fi enabled smart connected wallets is projected to evolve at a CAGR of 5.2% from 2023 to 2033.
  • The US market was valued at USD 80 million in 2022.
  • Online sales of smart connected wallets are expected to drive the market expansion.

Competitive Environment

The global market is highly consolidated due to the presence of some prominent international and regional players. Key players in the smart connected wallet market are competing on product differentiation, pricing, product portfolio, product advantages, and product quality. To remain competitive in the global market, vendors must develop innovative product manufacturing procedures and new products.

In addition, many start-ups focus not only on product design, but also on new developments in material usage.

  • Digital payment network Alipay+ has partnered with Asian mobile payment providers to launch smart connected wallets and digital wallets in South Korea in September 2022.
  • Released by Tags Mate in October 2021, the AirTag smart wallet combines Apple’s AirTag encryption with a sleek look for credit cardholders.
  • Ekster will launch the world’s first voice-activated smart wallet in March 2021. The wallet features quick card access, Crowd-GPS monitoring, RFID blocking, and is all wrapped in eco-friendly leather.

Players Profiled

  • Aid Technology Co., Ltd.
  • Bagizmo
  • Arista Vault
  • mikey lab
  • Blockchain App Factory
  • Gary 17
  • NXT-ID Inc.
  • Neutvault

Quick Buy: Smart Connected Wallet  Market Report –
https://www.factmr.com/checkout/8363?AS 

Smart-connected wallets market forecast by Fact.MR

Research Segmentation of the Smart Connected Wallet Industry

  • By type :
    • Wifi
    • bluetooth
  • By material :
    • metallic
    • non-metal
  • By distribution channel:
    • off-line
    • online
  • By region :
    • North America
    • Latin america
    • Europe
    • Asia Pacific and China
    • Middle East and Africa

Regional analysis

North America dominates the global smart connected wallet market and is projected to continue during the forecast period. The United States leads the North American market due to the presence of prominent players in the county. In addition, the Asia-Pacific and European markets are experiencing considerable growth.

The report covers following Smart-connected wallets insights and assessment that are helpful for all participants involved in the Smart-connected wallets :

  • Data on recently introduced regulations and their impact on key industries and on demand in Smart-connected wallets
  • Latest industry Smart-connected wallets  with key analysis of market drivers, trends, and influencing factors
  • Key trends Analysis of Smart-connected wallets and changing consumer preferences in major industries.
  • Changing Smart-connected wallets  demand and consumption of diverse products
  • Major trends underlining funding by key investors in numerous countries
  • New investment opportunities in diverse technology and product or service types
  • Comprehensive data and Competitive analysis of Smart-connected wallets major players
  • Smart-connected wallets sales in US will grow at a steady pace, driven by growing consumer confidence and economic recovery
  • Smart-connected wallets demand forecast in Europe remains stable, as many countries such as UK, France, and Germany focus on boosting growth

More Valuable Insights on Smart-connected wallets      

Fact.MR, in its new report, offers an unbiased Market Analysis of Smart-connected wallets, Sales, Smart-connected wallets, and analyzing forecast statistics through 2033 and beyond. The study reveals growth projections on the of various criteria.

Check out more related studies published by Fact.MR Research: https://www.globenewswire.com/news-release/2023/03/02/2619711/0/en/Artificial-Intelligence-AI-In-Retail-Market-Is-Predicted-To-Advance-at-a-Stupendous-CAGR-Of-30-3-by-2033-Fact-MR-Report.html

Contact:
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Tel: +1 (628) 251-1583
E-Mail: sales@factmr.com

This Press Release has been written with the intention of providing accurate market information which will enable our readers to make informed strategic investment decisions. If you notice any problem with this content, please feel free to reach us on mediarelations@xherald.com.

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