IMARC Group, a leading market research company, has recently releases report titled “Mobile Commerce Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the global mobile commerce market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the Mobile Commerce Market?
| Report Attributes | Details |
| Market Size in 2022 | US$ 1109.1 Billion |
| Market Forecast in 2028 | US$ 5,867.1 Billion |
| Growth rate (2023 to 2028) | CAGR of 31% |
| Base Year of the Analysis | 2022 |
| Forecast Period | 2023-2028 |
What is Mobile Commerce?
Mobile commerce, or m-commerce, represents a subset of e-commerce that refers to the use of wireless handheld devices for performing commercial transactions online. It comprises in-app purchases, mobile banking, virtual marketplace apps, such as the Amazon mobile app, and digital wallets, including Apple Pay, Google Pay, and Samsung Pay. Mobile commerce utilizes wireless devices, such as smartphones, smartwatches, cellphones, and tablets, to initiate, authorize, and confirm the exchange of money. This is facilitated by the availability of point-of-sale (POS) terminals that process transactions utilizing nearfield communications or the internet.
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What Are the Growth Prospects and Trends in the Mobile Commerce Market?
The increasing usage of wireless handheld devices that offer enhanced convenience, security, and easy access to the internet has encouraged tech-savvy consumers to make phone-based charges through digital wallets and online payment gateways, which is among the primary factors driving the mobile commerce market. Besides this, the introduction of various safety features in mobile and wearable devices, including biometrics authentication, such as fingerprint and facial recognition, which have made online payments more secure, is further augmenting the market growth. Moreover, the incorporation of fraud-prevention tools, including card verification value (CVV), address verification service (AVS), fraud scoring, and authentication checks by m-commerce merchants in their platforms, is also catalyzing the global market. Apart from this, the launch of several policies by the government bodies to promote digital payment methods, on account of the sudden outbreak of the COVID-19 pandemic, is acting as another significant growth-inducing factor. Furthermore, the emerging trend of bring-your-own-device (BYOD) and the rising broadband connectivity are expected to bolster the mobile commerce market in the coming years.
Who Are the Key Players Operating in the Mobile Commerce Market?
The competitive landscape of the industry has also been examined with some of the key players.
- com Inc
- Apple Inc.
- ASOS
- eBay
- Ericsson Inc.
- Gemalto
- IBM
- Mastercard Inc.
- Mopay
- Netflix
- PayPal
- SAP
- Visa
What is Included in Market Segmentation?
The report has categorized the market based on transaction type, payment mode, type of user and region.
Breakup by Transaction Type:
- M-Retailing
- M-Ticketing
- M-Billing
- Others
Analysed By Payment Mode:
- Near Field Communication (NFC)
- Premium SMS
- Wireless Application Protocol (WAP)
- Others
Breakup by Type of User:
- Smart Device Users
- Feature Phone Users
Regional Analysis:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)
Key Highlights of The Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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