The global mobile commerce solution market is expected to witness growth over the forecast period, which may be attributed to the increasing number of mobile commerce or m-commerce users. Increasing the adoption of mobile commerce solutions across small and medium-scale to large-scale enterprises is also expected to fuel market demand over the forecast period. Further, a rise in the number of smartphone users owing to the flexibility offered in operating mobile commerce solutions is anticipated to be the key factor that drives the market growth. Companies emphasize on addressing several security issues pertaining to online payment and data security, which is also expected to positively impact the mobile commerce solution industry growth over the forecast period. Technological proliferation along with the availability of mobile wallet solutions offers several m-commerce solution market growth opportunities. High demand for several open-source platform and the SaaS technology are few other factors expected to impel the mobile commerce solutions market demand. The proliferation of mobile technology may result in the integration of several functionalities such as the inclusion of a barcode scanner into the solutions.
Prevalence of responsive web-enabled reference stores may help reduce cost; risk and time involved in implementing these solutions and provide avenues for market growth. The introduction of several product identification technologies such as Quick Response (QR) code generates opportunities to increase the demand for better and integrated mobile commerce solutions. Surging demand for communication technologies such as Near Field Communication (NFC) provides a secure payment platform, which may further catapult m-commerce solution market demand. Further, next-generation technologies such as digital money, Bitcoin is expected to transform the mobile payment platform, and positively impact the mobile commerce solution market demand over the next few years. Several key electronic commerce players are expected to migrate to mobile commerce technology owing to increased smartphone demand. Customization, flexible contract period, and scalability of the solution are other factors that may spur market demand. Introduction of new interactive, user-friendly, and sophisticated tools like Alpha Anywhere, App Press, AppArchitect, Form.com, iBuildApp, QuickBase, Salesforce1, ViziApps, Mobile Chrome Development Kit, and Appcelerator may help deliver these solutions rapidly and with an enhanced design.
Mobile commerce solution provides several benefits including automated code generation, re-usability, and easy integration of Artificial Intelligence (AI) technology. However, rapid technological advancements in the field of mobile payment and the intricate nature of customer touchpoints that support these solutions and devices may pose to be a challenge to the mobile commerce solutions market. Lack of workforce with technical expertise, legacy infrastructure, and budget & sourcing limitation is also a few factors expected to hamper market demand. Mobile commerce solution services include ticketing, buying or selling consumer products, auctioning, and digital money. Digital money provides several avenues for market growth. High adoption across the telecom and banking sector has resulted in a new form of payment technology, which is expected to positively impact the market in the next few years.
The North America mobile commerce solution market is expected to witness growth owing to continuous technological improvements and cloud service proliferation. The Latin America market may witness exponential growth owing to the high usage of mobile commerce solutions. The Asia Pacific mobile commerce solution market is expected to witness considerable growth due to the emergence of several start-ups with high mobility requirements and smartphone proliferation. Several industry participants emphasize on promoting mobile commerce solution usage through the provision of discounts. The Middle East and Africa market may witness high growth due to the increasing investment of prominent e-commerce players in the region. Key m-commerce Solutions market participants include Ericsson, Volusion, CBES, Netsity Systems (P) Ltd., Vaimo, Branding Brand, July Systems, Kony, Mad Mobile, Merkle 5th Finger, Mobify, Moovweb, Netbiscuits, Skava, MobiFin, and Usablenet.
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In order to ensure business continuity amidst the COVID-19 crisis, business organizations, especially in highly affected countries are allowing their employees to work from home. The increase in people working from home has led to a surge in demand for online video viewing, downloading, and communication through video conferencing, all of which are leading to increased network traffic and data usage. COVID-19 shall accelerate the demand for agile and flexible work styles and further push the adoption of communication services that tend to improve work-life balance. On the flip side, telecom regulators worldwide have postponed their plans of 5G spectrum auction amidst the global pandemic. This is expected to have an impact on the commercialization of commercial 5G standalone deployments and revenue generated through 5G services. The ongoing pandemic has forced telecom operators worldwide to test their network resiliency and revisit their planned investments, especially in 5G technology. The report will account for Covid19 as a key market contributor.