M-Commerce Market

M-Commerce Market Outlook

The global M-Commerce market size was valued at USD 340.16 Billion in 2022 and is projected to reach USD 29.2 Trillion by 2031, expanding at a CAGR of 27% during the forecast period 2023 - 2031. The growth of the market is attributed to rising number of tablets, smartphones, and other internet-enabled devices.

M-commerce refers to selling and buying of goods and services through wireless handheld devices such as tablets and smartphones. M-commerce allows users to access online shopping without using desktop computers.

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M-Commerce Market Trends, Drivers, Restraints, and Opportunities

• M-commerce minimizes overhead costs and increases transactional efficiency by reducing physical presence and other mediators.
• Advancement in mobile and wireless technologies is estimated to maximize the number of transactions during the forecast period.
• Increasing usage of mobile internet and improved bandwidth is projected to fuel the M-Commerce market growth.
• Growing penetration of smartphones and the union of online and offline activities is anticipated to boost the M-Commerce market during the forecast period.
• M-commerce offers mobility, which broadens the reach and propels the market.
• Low speed internet in developing countries is expected to hamper the market growth during the forecast period.
• Lack of mobile-friendly websites is expected to hinder the  M-Commerce market growth.
• Information security and high competition in m-commerce sector is estimated to hamper the M-Commerce market growth.

Scope of M-Commerce Market Report

The report on the M-Commerce market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

M-Commerce Market Segment Insights:

The near field communication segment is expected to expand at a rapid pace during the forecast period

Based on payment mode, the M-Commerce market is segregated as Near Field Communication (NFC), Wireless Application Protocol (WAP), premium SMS, and direct carrier billing. The near field communication segment is expected to hold a major market share during the forecast period.

The NFC communication technology is widely used in pay terminals using portable devices. Rising demand for efficient government policies and security issues is projected to fuel the market. Increasing development in NFC motivated consumers to make small and large payments using portable devices.

Premium SMS service allows users to access services of third party messaging packages that charge fees. These fees are either for participation in the program or for the content sent to the user’s phone. Multimedia or text messages are received or sent from programs using short codes instead of phone numbers. Adoption and expansion of mobile payments such as digital wallets and usage of apps encouraged non-payment technology firms to enter into payment landscapes, which is anticipated to boost the market.

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The retailing segment is expected to expand at a substantial CAGR during the forecast period

On the basis of transaction types, the M-Commerce market is fragmented as ticketing, retailing, and billing. The retailing segment is projected to hold a major market share during the forecast period. Growth of the segment is attributed to rising demand for online shopping in developing and developed countries. M-commerce services are inexpensive and save time as compared to traditional marketing and shopping methods.

Rising adoption of digital transactions increases the use of mobile payments, which in turn drives the M-commerce retail segment. Additionally, increased adoption of smartphones and rising demand for online shopping is expected to fuel the market. Amazon Pay provides cashbacks on transactions above certain amount. These offers are estimated to increase the demand for the M-retailing segment, which in turn drives the M-commerce market.

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The market in North America is expected to hold a key market share of the total revenue during the forecast period

In terms of regions, the M-Commerce market share is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Growth of the market in North America is attributed to increasing usage of wireless internet, growth of smartphones and other technology, and presence of several major players in the US.

Moreover, increasing tech-savvy population in the region is expected to drive the M-commerce market. The market in Asia Pacific is projected to expand at a high CAGR during the forecast period, owing to growth in mobile retail activities in developing countries such as China and India.

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Segments

The global M-Commerce market is segmented on the basis of

Payment Mode

• Near Field Communication (NFC)
• Wireless Application Protocol (WAP)
• Premium SMS
• Direct Carrier Billing

Transaction Types

• Ticketing
• Retailing
• Billing

Regions

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East & Africa

Key Players

• IBM
• PayPal
• Google
• MasterCard
• Visa
• SAP
• Ericsson
• Mopay
• Flipkart
• Gemalto
• Walmart
• Oxygen8
• eBay
• Amazon
• Jabong

Competitive Landscape

Key players in the global M-Commerce market include IBM, PayPal, Google, MasterCard, Visa, SAP, Ericsson, Mopay, Flipkart, Gemalto, Walmart, Oxygen8, eBay, Amazon, and Jabong. In April 2019, Ericsson and ABB, major players in digital industries, collaborated for flexible wireless mechanization.

In March 2019, Mastercard declared acquisition of Ethoca, a worldwide supplier of technology solutions that helps dealers and card issuers to work together in real time to resolve and identify frauds in digital commerce.