Mobile commerce (M-commerce) means purchasing and selling of goods and services over wireless handheld devices such as smartphones, tablets, laptop, palmtop or other personal digital assistant (PDA). By use of M-commerce, a user can do various tasks such as railway reservation, book movie tickets, pay bills, order books, watch and read news, etc.
Increasing use of portable devices is expected to drive growth of global M-commerce market over the forecast period
Increasing use of portable devices such as tablet, smartphones, and internet enable devices is key a factor driving growth of the global M-commerce market. In addition, development in mobile application structure, improvement in network bandwidth such as introduction of 5G, and availability of goods and services from major players on e-commerce are some other factors expected to drive growth of the global M-commerce market during forecast period.
However, internet connectivity issues in developing countries, and data security threats are key factors restraining growth of the global M-commerce market. Additionally, high development cost associated to M-commerce software, and limited professional workforce are other factor expected to hamper growth of the global M-commerce market over the forecast period.
Increasing adoption of Bring Your Own Device (BYOD), internet enabled devices, and mobile payment systems such as paytm, mobikwik, BHIM, etc. are expected to create opportunities for market players in the global M-commerce market.
The global M-commerce market is segmented on the basis of transaction, payment mode, type of user, and region. On the basis of region, the global M-commerce market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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North America market is a dominant player in the global M-commerce market and accounts for largest market share in terms of revenue. This is attributed to presence of online retailers such as Walmart, Amazon, and eBay with strong broadband connectivity infrastructure in countries in this region. The market in Asia Pacific is fastest growing market with CAGR XX% over the forecast period, owing to rising adoption of smartphones coupled with increasing shift towards online shopping, and mobile payment systems in emerging economies in this region.
Prominent players in the global M-commerce market includes Ericsson Inc., Apple Inc., PayPal Holdings, Inc., Visa Inc., MasterCard Incorporated, International Business Machines Corporation, Google Inc., Oxygen8 Communications Ltd., SAP SE, and Amazon.com, Inc.