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Apple and Google to Challenge MNOs With Mobile Wallets Says ABI Research Report

By Martin Schuppelius

Marketing research firm ABI Research has released a new study, Mobile Wallet Strategies, that forecasts mobile wallet users will grow to 594 million in 2016. According to ABI Research, the growth of mobile wallet services is driven by new NFC-capable smartphones and innovative business cases that will attract more users to use mobile wallet services.

The current market leaders are mobile network operators (MNOs), but their market share will decline in the next years as Apple and Google will claim loyal users says the report. MNOs will provide 75% of all mobile wallets in 2012, shrinking to 63% in 2016. Mark Beccue, senior analyst, mobile commerce and NFC commented: “By the end of 2012, Google will prove that Google Wallet is a hit with consumers. By 2014, we will see Google Wallets supported alongside competing MNO offerings globally.”