Reliable Data You Can Trust
Reliable Data You Can Trust
A recent report published by Infinium Global Research on the m-commerce market provides an in-depth analysis of segments and sub-segments in the global as well as regional m-commerce market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional m-commerce market over the short term as well as the long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global m-commerce market. According to the report, the global m-commerce market is projected to grow at a CAGR of 23.14% over the forecast period of 2021-2027. The m-commerce market growing from nearly USD 693.6 billion in 2021 to about USD 2,418.2 billion in 2027.
Mobile commerce, known as m-commerce, is a process of buying goods or services online through a wireless mobile device such as a smartphone or tablet. M-commerce has transformed the eCommerce market to the point where any business not investing in it is falling behind the curve. Considering the number of mobile device users currently, it makes sense that businesses should accommodate their shopping habits through mobile commerce. Nowadays, the number of retailers buying through mobile devices is continually rising, so businesses must be ready to accommodate these newer habits in order to maximize their profits and also reach their customers in any possible way. M-commerce platforms offer a new marketing channel that should be taken advantage of. For instance, with a mobile application, one can have a direct connection with its end-users, giving them an invaluable marketing channel where they can sell products directly to the consumer via their mobile devices also. The COVID-19 crisis accelerated an increase in e-commerce towards new firms, customers, and types of products. It has provided customers access to a variety of products as per the conveniences and safety of their homes and has enabled firms to continue operating in spite of contact restrictions and other confinement measures imposed by the government in order to spread this virus in large numbers. M-commerce transactions in many countries have shifted from luxury goods and services to everyday necessities, relevant to a large number of individuals. Moreover, people also shifted towards online payment mode in order to stay away from this virus as the ease of payment comes through m-commerce. Online sellers have especially taken the advantage of social media to advocate the cause of mobile commerce during pandemic times.
The advancement in mobile technology and increased smartphone penetration have led to significant growth in the global mobile commerce market over the past few years. The demand for smartphones is increasing due to changing lifestyles of people and is increasingly becoming a part of everyday life. Furthermore many corporate industry players are doing investments in m-commerce due to various offerings offered by it. M-commerce requires a good internet speed for its operations to a smooth way. But still, few developing nations are struggling to deliver good internet services to its customer which can hinder the market growth of the m-commerce market. Furthermore, the Optimization of device capabilities and rising awareness of mobile applications and services may provide new opportunities for m-commerce market growth in the forecast period.
Among the regions, North America accounted for the largest share of the global m-commerce market. Owing to the early adoption of new technologies and high level of use of m-commerce as compared to other regions to propel its market growth. The presence of key players in the market has their headquarters based in this region set to drive the m-commerce market due to high funding and investments raised by them. However, the Asia Pacific region is anticipated to grow at the highest rate in the global m-commerce market over the forecast period. Mobile commerce (m-commerce) in the Asia Pacific has been growing steadily, fueled by a combination of rising smartphone ownership, faster mobile data speeds, and – not least – savvier mobile retailers.
The report on the global m-commerce market covers segments such as transactions, payment modes, and users. On the basis of transactions, the sub-markets include m-retailing, M-ticket/booking, m-billing, and other m-commerce services. On the basis of payment modes, the sub-markets include NFC, premium SMS, WAP, and carrier billing. On the basis of users, the sub-markets include smart devices, and feature phones.
The report provides profiles of the companies in the market such as Ericsson, Gemalto, Google, IBM, MasterCard, Mopay, Oxygen8, PayPal, SAP, and Alibaba Group Holding Ltd.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of m-commerce market. Moreover, the study highlights current market trends and provides forecasts for 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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