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Mobile Commerce Market is expected to grow at a CAGR of 10.1% during the forecasted period | Evolve Business Intelligence
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The proliferation of smartphones plays a crucial role in the growth of m-commerce. As more people own smartphones, they have easy access to online shopping and other mobile services. The development and use of mobile applications dedicated to e-commerce have significantly contributed to the growth of m-commerce. Apps provide a more user-friendly and convenient experience compared to mobile websites. The rise of mobile wallets and various payment solutions, such as Apple Pay, Google Pay, and other digital wallets, has made mobile transactions more secure and efficient, encouraging users to make purchases through their mobile devices.
Key Players
Some of the major Mobile Commerce Market players holding high market shares include Boku Inc., Ericsson, Gemalto, and Google Inc. These players use partnership and collaboration as a key strategy to gain significant market share to compete with market leaders. Some of the other major market players include IBM Corp., Mastercard Inc., Oxygen8 Solutions, Inc., Paypal, SAP AG, and Visa Inc.
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Segmental Analysis
Based on transactions, the Mobile Commerce market is segmented into M Retailing, M ticketing/booking, M billing, and Others. The m-Retailing segment covers online retail purchases via mobile devices. With the widespread adoption of smartphones and increasing mobile internet penetration, it's likely the largest segment due to its ease, convenience, and wide range of products offered.
Based on payment modes, the Mobile Commerce market is a Near-field Communication (NFC), Premium SMS, Wireless Application Protocol (WAP), Direct Carrier Billing, and Others. Near-field Communication (NFC) contactless technology allows for secure and convenient payments through smartphones or dedicated devices. Its ease of use and growing adoption, especially in developed markets, might contribute to a significant market share.
Based on end-users, the Mobile Commerce market is segmented into Smart device users and feature phone users. Smart Device Users segment encompasses users with smartphones and tablets. With the increasing affordability and penetration of smartphones, this segment is likely the largest due to its wider access to mobile commerce platforms and applications.
Key Region/ Countries Covered
• North America (US, Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Spain, Russia, Nordic Countries, BeNeLux, Rest of Europe)
• Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Rest of Asia Pacific)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, South Africa, Rest of MEA)
• Latin America (Mexico, Brazil, Argentina, Rest of Latin America)
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About EvolveBI
Evolve Business Intelligence is a market research, business intelligence, and advisory firm providing innovative solutions to challenging pain points of a business. Our market research reports include data useful to micro, small, medium, and large-scale enterprises. We provide solutions ranging from mere data collection to business advisory.
Evolve Business Intelligence is built on account of technology advancement providing highly accurate data through our in-house AI-modelled data analysis and forecast tool - EvolveBI. This tool tracks real-time data including, quarter performance, annual performance, and recent developments from Fortune's global 2000 companies.
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