18-Dec-2020 | Facts and Factors
Findings from Facts and Factors report “M-Commerce Market By Payment Modes (Premium SMS, Wireless application protocol (WAP), Near Field Communication (NFC), and Direct Carrier Billing), By User Type (Feature Phone Users and Smart Device Users), and By Transactions (M Retailing, M Booking, M Billing, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global M-Commerce Market in 2019 was approximately USD 472 billion. The market is expected to grow at a CAGR of 34.9% and is anticipated to reach around USD 3,901 billion by 2026.
The Global M-Commerce Market Is Powered By Economic Development, Technological Advancement, Rising Demand From End-User Industries.
Mobile commerce, more popularly known as m-commerce is a subset of e-commerce. It refers to the completion of commercial transactions online with the help of handheld devices like a mobile or tablet. The term mobile commerce was incepted in 1997 at the global mobile commerce forum and the exact wording while defining mobile commerce was “the delivery of electronic commerce capabilities directly into the consumer’s hand, anywhere, via wireless technology. Technological developments like swift processing power, faster internet, advanced smartphone devices, and efficient supply chain management have propelled the growth of the m-commerce market. One of the important reasons for mobile commerce becoming more and more convenient is due to digital wallets that enable easy and secure transactions.
Browse the full “M-Commerce Market By Payment Modes (Premium SMS, Wireless application protocol (WAP), Near Field Communication (NFC), and Direct Carrier Billing), By User Type (Feature Phone Users and Smart Device Users), and By Transactions (M Retailing, M Booking, M Billing, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" report at https://www.fnfresearch.com/m-commerce-market
In this age of information, a decision made by an individual is based on the information he or she possesses and the majority of the buyers of e-commerce does this mining of information through handheld devices as a result of which more and more companies have dedicated their resources to optimize their website for mobile usage and increase their sales through mobile apps. When it comes to e-retail it has been observed that more than 50% of the shopper’s access through mobile phones, slightly less than 405 from PCs and very low numbers from the tablet.
According to Statista, US consumers use their mobile devices while shopping in retail stores. They do it for various reasons. 61% of consumers compare prices while in-store, and 63% of them use mobile app coupons for in-store purchases. Additionally, 56% of customers use their mobile devices to review store inventories. There are numerous benefits of m-commerce as compared to e-commerce though the goal of both is the same. m-commerce enables customers to make transactions on the move. Location tracking capabilities of m-commerce apps provide content based on location and interests. It helps local businesses to target the customers through promotional offers and nudge customers towards their products.
The demand for M-Commerce is expected to be driven by an increase in the demand for smartphones. Smartphones are increasingly becoming a ubiquitous part of everyday life. The numbers of users are close to 3 billion and it is expected that this number will further move upwards. Majority of demand is concentrated in China, India, and the US. Each smartphone holder is a potential m-commerce consumer thus in the forecast period there is humongous demand for m-commerce.
Another important driving factor for the m-commerce market is the investments by the corporates in the m-commerce platform due to the benefits it offers. M-commerce increases customer retention rate through various loyalty programs. It is convenient for consumers to make an informed decision. It allows to compare prices, see product reviews, and based on it make a purchasing decision. Investments by retailers to improve user experience like giving the experience of virtual stores by using the emerging technology of VR/AR has becoming successful strategy to lock in customers and increase customer loyalty.
However, major challenges of the m-commerce market is lack of robust cyber security and data theft through the complex attack. The user experience of customers is dependent on many stakeholders, thus it becomes challenging to bring synchronization and synergy in many stakeholders in supply chain. Despite these challenges, the commercialization of 5G and internet penetration will showcase numerous opportunities.
In terms of geography, m-commerce market is expected to drive by the regions which have a maximum. access to smartphone thus North America and Asia Pacific region is expected to register significant growth. The European region is also expected to register significant growth due to investment in the m-commerce sector. Africa and Latin America region is anticipated to register growth owing to rising middle-class population.
Report Scope
Report Attribute |
Details |
Market Size in 2019 |
USD 472 Billion |
Projected Market Size in 2026 |
USD 3,901 Billion |
CAGR Growth Rate |
34.9% CAGR |
Base Year |
2019 |
Forecast Years |
2020-2026 |
Key Market Players |
3D Systems Corporation, Ericsson, Gemalto, Google, IBM, MasterCard, Mopay, Oxygen8, PayPal, SAP, and Visa, and Others |
Key Segment |
By Payment, User, Transactions, Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
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Some of the leading and top companies in M-Commerce market include
3D Systems Corporation, Ericsson, Gemalto, Google, IBM, MasterCard, Mopay, Oxygen8, PayPal, SAP, and Visa among various other
The taxonomy of the m-commerce market by its scope and segmentation is as follows:
By Payment Modes Segmentation Analysis
- Premium SMS
- Wireless application protocol (WAP)
- Near Field Communication (NFC)
- Direct Carrier Billing
By User Type Segmentation Analysis
- Feature Phone Users
- Smart Device Users
By Transactions Segmentation Analysis
- M Retailing
- M Booking
- M Billing
- Others
By Regional Segmentation Analysis
- North America
- Europe
- Germany
- The UK
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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