Mobile Commerce Market Outlook
Mobile commerce or m-commerce refers to the buying and selling of goods and services through the use of wireless electronic devices such as smartphones, tablets, and hand-held computers. It is a subset of electronic commerce that enables users to access online shopping platforms without using desktop computers. M-commerce platforms offer in-app purchasing, mobile banking, virtual marketplaces by using various mobile applications, like Apple Pay, Android Pay, and Samsung Pay. It also allows firms and individuals to conduct their business over the internet.
How has the global mobile commerce market performed so far and how will it perform in the coming years?
According to IMARC Group’s latest report, titled “: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global market reached a value of US$ 833.9 Billion in 2021. Looking forward, IMARC Group expects the global mobile commerce market to reach US$ 4,711.9 Billion by 2027, exhibiting a CAGR of 33.4% during 2022-2027.
What are the key driving factors and challenges in the industry?
The global mobile commerce market is primarily driven by the growing penetration of internet- enabled devices such as smartphones and tablets. Besides this, m-commerce offers various benefits, such as reducing the overhead costs and increasing transactional efficiency by eliminating the need for physical presence and intermediaries. Furthermore, M-commerce is also increasingly gaining traction across the globe with the onset of coronavirus disease (COVID-19) as governments of several countries are undertaking initiatives to promote digital or cashless payment methods. Furthermore, the advancements in mobile technology and the rising awareness for mobile applications and services are expected to fuel market growth in the upcoming years.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
who are the key players of the global mobile commerce market?
The competitive landscape of the industry has also been examined with some of the key players.
- com Inc
- Apple Inc.
- Ericsson Inc.
- Mastercard Inc.
What is the breakup of the mobile commerce market based on?
The report has categorized the market based on transaction type, payment mode and type of user.
Breakup by Transaction Type:
Breakup by Payment Mode:
- Near Field Communication (NFC)
- Premium SMS
- Wireless Application Protocol (WAP)
Breakup by Type of User:
- Smart Device Users
- Feature Phone Users
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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