IMARC Group, a leading market research company, has recently releases report titled “Mobile Commerce Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the global mobile commerce market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the Mobile Commerce Market?
The global mobile commerce market size reached US$ 1109.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 5,867.1 Billion by 2028, exhibiting a growth rate (CAGR) of 31% during 2023-2028.
What is Mobile Commerce?
Mobile commerce, or m-commerce, refers to the buying and selling of goods and services through wireless handheld devices such as smartphones and tablets. As an evolution of e-commerce, m-commerce enables users to access online shopping platforms without needing to use a desktop computer. Key elements of m-commerce include mobile shopping, banking, payments, and advertising. This form of commerce utilizes mobile applications and websites optimized for mobile devices to provide users with convenient, on-the-go access to a wide range of interactive and personalized services.
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What Are the Growth Prospects and Trends in the Mobile Commerce Market?
The widespread ownership of mobile devices, particularly smartphones, represents one of the key factors driving the growth of the market across the globe. Improvements in wireless internet infrastructure, such as the expansion of 4G LTE networks and the advent of 5G, are facilitating faster and more reliable mobile internet, which is enhancing the m-commerce experience. Advances in mobile technology, including secure payment methods, high-resolution screens, and powerful processors, are making mobile devices more suitable for shopping and transactions. The ability to shop anytime and anywhere via mobile devices offers unparalleled convenience to consumers, which is a major incentive driving m-commerce adoption. The modern consumer’s preference for quick and easy shopping experiences is leading to a greater reliance on mobile devices for making purchases. The development of mobile payment solutions, such as digital wallets and one-click payment options, is simplifying the transaction process, thus making mobile purchases more attractive. The integration of commerce capabilities within social media platforms is opening new avenues for m-commerce through social commerce. Retailers are continuously innovating with mobile-optimized websites and apps to enhance the user experience, providing personalized content, and leveraging augmented reality to improve the virtual shopping experience. Enhanced security measures for mobile transactions, including biometrics and encryption, are increasing consumer confidence in m-commerce which is facilitating the growth of the market across the globe.
Who Are the Key Players Operating in the 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 Included in Market Segmentation?
The report has categorized the market based on transaction type, payment mode, type of user and region.
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
- 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 (2017-2022)
- Market Outlook (2023-2028)
- 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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