Quick Summary:
In today's increasingly digital world, the global mobile commerce market stands at the forefront of technological evolution. The market encompasses mobile banking, in-app purchases, virtual marketplaces and digital wallets, all facilitated by the use of wireless handheld devices such as smartphones and tablets. Such innovation is not only boosting the convenience of online transactions but also improving security and reducing the risk of human error.
Progressive tech-savvy consumers are increasingly adopting mobile-based payments, spurred on by the advanced safety features such as biometrics authentication in modern devices. Moreover, governments worldwide are encouraging digital payment methods, bolstering further growth in the mobile commerce industry. Factors such as the rising trend of bring-your-own-device (BYOD) and expanding broadband connectivity are also stimulating market development. Dive into critical insights, trends and forecasts with our comprehensive report, exploring the mobile commerce market based on transaction type, payment mode and user type across various regions.
The global mobile commerce market size reached US$ 1109.1 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 5,867.1 Billion by 2028, exhibiting a growth rate (CAGR) of 31% during 2023-2028.
Mobile commerce, or m-commerce, is a subset of e-commerce that refers to the use of wireless handheld devices for conducting commercial transactions online. It comprises mobile banking, in-app purchases, virtual marketplace apps, such as the Amazon mobile app, and digital wallets like Google Pay, Apple Pay, and Samsung Pay. It utilizes wireless devices, like cellphones, smartphones, smartwatches, and tablets, to authorize, initiate, and confirm the exchange of money. This is facilitated by the availability of point-of-sale (POS) terminals that process transactions using nearfield communications or the internet.
The increasing usage of wireless handheld devices that offer enhanced security, convenience and easy access to the internet has encouraged tech-savvy consumers to make mobile-based payments through digital wallets and online payment gateways. These methods enable buyers to make contactless payments, thereby eliminating card swiping and manual entry, which helps in reducing human error and facilitating a smoother checkout experience. This trend has further been facilitated by the introduction of multiple safety features in mobile and wearable devices, including biometrics authentication such as fingerprint and facial recognition, which have made mobile payments more secure. Moreover, many service providers are collaborating with mobile operators to offer advanced payment solutions. Along with this, governments of various countries are undertaking initiatives to promote digital payment methods, which is providing a positive impact on market growth. Furthermore, the rising trend of bring-your-own-device (BYOD) and growing broadband connectivity are among the other factors stimulating the growth of the industry.
Mobile commerce, or m-commerce, is a subset of e-commerce that refers to the use of wireless handheld devices for conducting commercial transactions online. It comprises mobile banking, in-app purchases, virtual marketplace apps, such as the Amazon mobile app, and digital wallets like Google Pay, Apple Pay, and Samsung Pay. It utilizes wireless devices, like cellphones, smartphones, smartwatches, and tablets, to authorize, initiate, and confirm the exchange of money. This is facilitated by the availability of point-of-sale (POS) terminals that process transactions using nearfield communications or the internet.
The increasing usage of wireless handheld devices that offer enhanced security, convenience and easy access to the internet has encouraged tech-savvy consumers to make mobile-based payments through digital wallets and online payment gateways. These methods enable buyers to make contactless payments, thereby eliminating card swiping and manual entry, which helps in reducing human error and facilitating a smoother checkout experience. This trend has further been facilitated by the introduction of multiple safety features in mobile and wearable devices, including biometrics authentication such as fingerprint and facial recognition, which have made mobile payments more secure. Moreover, many service providers are collaborating with mobile operators to offer advanced payment solutions. Along with this, governments of various countries are undertaking initiatives to promote digital payment methods, which is providing a positive impact on market growth. Furthermore, the rising trend of bring-your-own-device (BYOD) and growing broadband connectivity are among the other factors stimulating the growth of the industry.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global mobile commerce market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on transaction type, payment mode and type of user.Breakup by Transaction Type:
- M-Retailing
- M-Ticketing
- M-Billing
- Others
Breakup 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
Breakup by Region:
North America
- United States
- Canada
Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
Latin America
- Brazil
- Mexico
- Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the key players being Amazon.com Inc, Apple Inc., ASOS.com Limited, eBay Inc, Ericsson Inc., Gemalto (Thales Goup), Google LLC, International Business Machines (IBM)Corporation, Mastercard Inc., mopay Inc., Netflix, Inc., PayPal Holdings, Inc., SAP ERP, and Visa Inc.Key Questions Answered in This Report:
- What was the size of the global mobile commerce market in 2022?
- What is the expected growth rate of the global mobile commerce market during 2023-2028?
- What are the key factors driving the global mobile commerce market?
- What has been the impact of COVID-19 on the global mobile commerce market?
- What is the breakup of the global mobile commerce market based on the transaction type?
- What is the breakup of the global mobile commerce market based on the payment mode?
- What is the breakup of the global mobile commerce market based on the type of user?
- What are the key regions in the global mobile commerce market?
- Who are the key players/companies in the global mobile commerce market?
Frequently Asked Questions about the Global Mobile Commerce Market
What is the estimated value of the Global Mobile Commerce Market?
What is the growth rate of the Global Mobile Commerce Market?
What is the forecasted size of the Global Mobile Commerce Market?
Who are the key companies in the Global Mobile Commerce Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 144 |
| Published | May 2023 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 1109.1 Billion |
| Forecasted Market Value ( USD | $ 5867.1 Billion |
| Compound Annual Growth Rate | 32.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 14 |
Table of Contents
1 Preface3 Executive Summary11 Value Chain Analysis
2 Scope and Methodology
4 Introduction
5 Global Mobile Commerce Market
6 Market Breakup by Transaction Type
7 Market Breakup by Payment Mode
8 Market Breakup by Type of User
9 Market Breakup by Region
10 SWOT Analysis
12 Porters Five Forces Analysis
13 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Amazon.com Inc
- Apple Inc.
- ASOS.com Limited
- eBay Inc
- Ericsson Inc.
- Gemalto (Thales Goup)
- Google LLC
- International Business Machines (IBM)Corporation
- Mastercard Inc.
- mopay Inc.
- Netflix Inc.
- PayPal Holdings Inc.
- SAP ERP
- Visa Inc.
Methodology
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