Market Research News24

The global mobile wallet market is experiencing substantial growth, propelled by the increasing demand for convenient and secure payment solutions. In 2024, the market was valued at USD 15.9 billion and is projected to reach USD 113.1 billion by 2032 , reflecting a compound annual growth rate (CAGR) of 28.5% during the forecast period. Key Growth Drivers: Consumer Convenience: Mobile wallets offer users the ability to conduct transactions from any location, manage payment accounts effortlessly, and transfer funds quickly. This convenience has led to widespread adoption among consumers seeking efficient financial management tools. Technological Advancements: The integration of biometric authentication methods, such as fingerprint scanning and facial recognition, enhances security and user experience. Additionally, AI-driven fraud detection systems monitor transaction patterns in real-time, identifying anomalies and reducing the potential for fraudulent activities. Smartphone and Int...

The global wiring devices market is experiencing significant growth, with its value estimated at $55.9 billion in 2023. Projections indicate that the market will reach $84.9 billion by 2030 , advancing at a compound annual growth rate (CAGR) of 6.4% during the forecast period. This expansion is primarily driven by rapid urbanization, infrastructure development, and the increasing adoption of advanced technologies across various sectors. Key Market Drivers: Infrastructure Development and Urbanization: The surge in global population has led to increased demand for residential and commercial spaces, resulting in heightened construction activities. This trend significantly boosts the need for wiring devices to support electrical installations in new buildings. Additionally, the shift towards renewable energy sources, such as wind and solar power, necessitates the installation of novel systems for transmitting electricity, further driving the demand for wiring devices. Technological Advanc...