The mobile commerce market is expected to register a CAGR of 27%. 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.
– Many of the payments have been mobile compatible and applications for the various kinds of activities such as funds transfer, bill payments have been deployed, which further aids to the growth of mobile commerce globally.
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– Advancements in integrated electronics enable the availability of many kinds of technologies, like broadband internet, in Handsets and the supporting service networks. All these developments open up the possibility of offering the user many services of unprecedented nature.
– The goal of all the services in one way or the other has to be the generation of revenues. This represents an ever-increasing scope of Mobile Commerce or m-commerce as a subset of the more generic Electronic Commerce or e-commerce, which in general to has been booming with the increasing popularity of the Internet.
– The factors that are driving the M-Commerce market are increasing adoption of smart devices, better broadband connectivity, cheaper services, socially adoption of M-Commerce services, etc. However, there are certain challenges in terms of dependency on internet networks, monetization of the user base, and fierce competition.
Scope of the Report
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.
Mobile Commerce Market
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