The mCommerce market is expected to grow with increasing number of smartphones, tablets and other internet enabled devices. mCommerce reduces overhead costs and increases transactional efficiency by eliminating physical presence and other intermediaries. Continuous technology advancements in wireless and mobile technologies are expected to increase the number of transactions over the forecast period. Increasing mobile internet usage owing to improved bandwidth is expected to drive the m-commerce market.
Increasing smartphone penetration and convergence between online and offline activities is expected to favor market growth over the forecast period. Additionally, mobility in mCommerce transactions enables broader reach, which is expected to further drive the market. Low internet speed in developing economies may hinder market growth over the forecast period. Absence of mobile friendly websites can further act as a restraint to market growth. Optimization of device capabilities and rising awareness for mobile application and services may provide new opportunities to market growth. Intense competition and information security may pose challenge to market growth over the forecast period.
The mobile commerce market can be segmented on the basis of payment mode and transaction types. Payment methods include premium SMS, Near Field Communication (NFC), direct carrier billing and Wireless Application Protocol (WAP). Transaction type consists of retailing, billing and ticketing services. mRetailing is expected to be the key transaction market over the forecast period owing to increasing demand of online shopping in developed and developing economies. mCommerce services saves time and are cheaper as compared to the traditional shopping and marketing methods which is expected to attract new market participants. North America and Europe are expected to be the key regional segment owing to high wireless internet penetration over the forecast period. Asia pacific is expected to considerably grow over the next six years owing to rise in mobile retail activities in nations such as India and China.
Some key technology vendors in the mCommerce market include Ericsson, Google, Gemalto, IBM, MasterCard, Oxygen8, Mopay, PayPal, Visa, SAP etc. Additionally, few online retail sites include Amazon, eBay, Walmart, Flipkart and Jabong.
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