Thailand Wallet Market (2024-2030) | Outlook, Revenue, Forecast, Share, Industry, Growth, Companies, Trends, Size, Analysis & Value

Thailand Wallet Market Synopsis

The Thailand wallet market is expected to experience significant growth during the forecast period of 2020-2026. This growth can be attributed to increasing urbanization, rising disposable incomes and a large customer base that is willing to adopt digital payment solutions. Additionally, the prevalence of cashless transactions has further boosted the adoption of digital wallets in Thailand. The government???s initiatives towards digitizing payments have also provided strong impetus for the proliferation of mobile wallets in this country. Moreover, recent innovations such as NFC technology are likely to bolster the growth prospects of this market in coming years.

Market Drivers

Some key factors driving growth in the Thailand wallet market include growing consumer awareness about e-wallets, increased penetration of smartphones and other connected devices, favorable initiatives from government authorities for promoting cashless payments, improved security measures adopted by banks and financial institutions for online transactions along with widespread acceptance across different retailers including supermarkets and convenience stores etc., availability of multiple payment options on mobile applications including pre-paid cards & debit/credit cards etc., wide range benefits offered by e-wallet providers which includes discounts/cashbacks on various purchases made through these wallets etc., rising number merchant establishments accepting digital payments coupled with increasing investment by venture capitalists for development & expansion activities into new markets are some major drivers propelling growth in this segment over upcoming years.

Challenges of the Market

Despite several advantages associated with eWallets there still exist certain challenges which impede its widespread adoption especially among rural consumers due to lack of proper infrastructure & connectivity issues according to their geographic locations or low knowledge about usage process related these technologies plus concerns related data privacy & security posed by malicious activities are few restraining factors negatively impacting revenue generated from this business segment over forecast timeframe. Additionally high transaction fees charged by service providers may hamper overall industry performance as well over future years if not addressed properly at earliest possible time periods.

Covid-19 Impact on the Market

The Covid-19 pandemic has had an adverse effect on the Thailand Wallet market. The restrictions imposed by the government have caused a decline in sales of wallets and accessories, leading to financial losses for wallet manufacturers. In addition, supply chain disruptions have impacted the production of wallets, resulting in increased costs.

Key Players of the Market

Key players in the Thailand wallet market include major international brands such as Fossil Group Inc., Coach Inc., Kate Spade & Company, Samsonite International SA and Leatherman Tool Group Inc.. These companies are expected to face a decline in their revenue due to the effects of Covid-19. However, some local brands such as Clutchy and Muji are still performing well despite these challenges due to strong digital marketing campaigns and an established customer base.

Key Highlights of the Report:

• Thailand Wallet Market Outlook
• Market Size of Thailand Wallet Market, 2023
• Forecast of Thailand Wallet Market, 2030
• Historical Data and Forecast of Thailand Wallet Revenues & Volume for the Period 2020-2030
• Thailand Wallet Market Trend Evolution
• Thailand Wallet Market Drivers and Challenges
• Thailand Wallet Price Trends
• Thailand Wallet Porter's Five Forces
• Thailand Wallet Industry Life Cycle
• Historical Data and Forecast of Thailand Wallet Market Revenues & Volume By Product Type for the Period 2020-2030
• Historical Data and Forecast of Thailand Wallet Market Revenues & Volume By Short Wallet for the Period 2020-2030
• Historical Data and Forecast of Thailand Wallet Market Revenues & Volume By Long Wallet for the Period 2020-2030
• Historical Data and Forecast of Thailand Wallet Market Revenues & Volume By Material for the Period 2020-2030
• Historical Data and Forecast of Thailand Wallet Market Revenues & Volume By Leather for the Period 2020-2030
• Historical Data and Forecast of Thailand Wallet Market Revenues & Volume By Fabric for the Period 2020-2030
• Historical Data and Forecast of Thailand Wallet Market Revenues & Volume By Gender for the Period 2020-2030
• Historical Data and Forecast of Thailand Wallet Market Revenues & Volume By Men for the Period 2020-2030
• Historical Data and Forecast of Thailand Wallet Market Revenues & Volume By Women for the Period 2020-2030
• Historical Data and Forecast of Thailand Wallet Market Revenues & Volume By Kids for the Period 2020-2030
• Historical Data and Forecast of Thailand Wallet Market Revenues & Volume By Distribution Channel for the Period 2020-2030
• Historical Data and Forecast of Thailand Wallet Market Revenues & Volume By Online for the Period 2020-2030
• Historical Data and Forecast of Thailand Wallet Market Revenues & Volume By Offline for the Period 2020-2030
• Thailand Wallet Import Export Trade Statistics
• Market Opportunity Assessment By Product Type
• Market Opportunity Assessment By Material
• Market Opportunity Assessment By Gender
• Market Opportunity Assessment By Distribution Channel
• Thailand Wallet Top Companies Market Share
• Thailand Wallet Competitive Benchmarking By Technical and Operational Parameters
• Thailand Wallet Company Profiles
• Thailand Wallet Key Strategic Recommendations