Jun 01, 2020 (Market Insight Reports) -- Global Mobile Commerce Market This market research provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Research classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
The mobile commerce market is expected to register a CAGR of 27% by 2024.
According to a study of over 45,000 shoppers conducted by the Harvard Bussiness Review, only 7% were online-only shoppers,73% of shoppers used multiple channels to shop. This shows that customer experience is consistent across channels such as M-commerce, desktop commerce, and brick and mortar store.
Mobile commerce (m-commerce) is a sort of e-commerce where buying and selling of goods and services are conducted through wireless handheld mobile devices. This includes mobile phones, smartphones, smartwatches, tablets, and netbooks. M-commerce allows users to access online shopping platforms without needing to use a desktop computer. Examples of m-commerce include mobile banking, in-app purchasing, virtual marketplace apps like the Amazon mobile app or digital wallets such as Google pay, Apple pay, Android pay and Samsung pay.
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Top Leading Manufactures:
Ericsson, Gemalto (Thales Company), Google Inc., IBM Corporation, Mastercard Inc., Mopay AG, Oxygen8, Paypal Holdings, SAP SE, Visa Inc.
Market segment by Regions/Countries, this report covers
North America (U.S., Canada, Mexico)
Global (Germany, UK, France, Rest of Global)
Asia Pacific (China, India, Japan, Rest of Asia Pacific)
Latin America (Brazil, Argentina, Rest of Latin America)
Middle East & Africa
Industry Detailed Analysis:
Growth of Smartphones and Internet Penetration Drive the M-commerce Market
– The overall structure of the IT industry is being reorganized, and competition in the industry is being expanded and diversified. The introduction of smartphones has spurred the creation of limitless IT-related markets such as an e-book, tablet PC, and notebook markets.
– The growing internet penetration among many developing countries is also one of the prime factors for the growth of the market. Many developing nations have now adopted the use of m-payments services online wallets etc. services, such as m-wallets have been popularized by many governmental programs, such as demonetization as an example. This has increased the revenue traffic in the market for e-commerce.
– Moreover, in the next five-year smartphone market across the world will burgeon due to the adaption of smartphone and penetration of the internet. However, North America will lead the market followed by Europe and the Asia – Pacific but Asia- Pacific will be the fastest-growing market.
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The mobile commerce market is fragmented due to the growing adoption of digitization, e-commerce, and m-commerce making people use this medium more often that gives the wide scope for the players to penetrate the market with technological innovation and developments. Some of the key players include Ericsson, Gemalto (Thales Company), Google Inc., IBM Corporation, Mastercard Inc., Paypal Holding, SAP SE, Visa Inc., among others.
– April 2019 – Ericsson and ABB, the technology leader focused on digital industries, strengthened their collaboration to accelerate the industrial ecosystem for flexible wireless automation. The partnership will enable enhanced connected services, Industrial IoT, and artificial intelligence technologies in the future.
– March 2019 – Mastercard announced it has entered into an agreement to acquire Ethoca, a global provider of technology solutions that help merchants and card issuers collaborate in real-time to quickly identify and resolve fraud in digital commerce. The Ethoca suite of products adds to Mastercards’ commitment to driving greater protection in the digital space, integrating with its robust suite of fraud management and security products.