M-Commerce Market

Global M-Commerce Market Size (2024 to 2029)

The global mobile commerce market is predicted to reach USD 1,449 billion in 2024 and USD 1,989 billion by 2029, growing at a CAGR of 6.55% during the forecast period.

Due to the advancements in mobile technologies, there is a huge development in the number of mobile device clients. By utilizing these mobile devices, there is a huge development in M-Commerce, which is the mode of transactions directed by mobile devices. These days, mobile devices are becoming a focal point of numerous advances and different applications made for customers and firms across the globe. Mobile Commerce is considered a productive method of conveying E-Commerce to consumers regardless of the time and area. The fundamental attributes of mobile, like customization, mobility, and predominance, show immense potential, incredible productivity, and high benefits of the M-commerce market.

Global M-Commerce Market Drivers:

The worldwide M-Commerce market is supposed to develop with an expanding number of smartphones, tablets, and other internet-empowered gadgets. M-Commerce diminishes overhead expenses and increments transactional effectiveness by eliminating actual presence and different intermediaries. Nonstop technological advancements in wireless and mobile innovations are relied upon to build the number of transactions over the estimated time frame. Expanding mobile internet use due to improved transfer speed is required to drive the market. Rising smartphone penetration and the integration among online and offline activities are required to support market development over the gauge time frame. Furthermore, mobility in M-Commerce transactions empowers more extensive reach, which is relied upon to drive the market. Optimization of gadget abilities and rising mindfulness for mobile applications and administrations may give new occasions to M-Commerce market development. Exceptional competition and information security may represent a test of mobile commerce market development over the gauge time frame.

Global M-Commerce Market Restraints:

Despite the fact that smartphones are getting more and more secure over the long run, some people delay making transactions over mobile gadgets. Compared to standard PC internet firms, mobile telephone networks are more inclined to engage in hacking activities. The current innovation to set up a M-commerce business is costly and requires high start-up costs. M-commerce is a costly method compared to E-commerce because of the production of mobile applications and the need to utilize cell information for the customers. Location management issues in country regions are also one of the major tests hampering the market's development. Also, low web speed in developing economies may prevent market development over the conjecture time frame. The absence of mobile-friendly sites can additionally be a restriction to market development.

Impact of COVID-19 On the global M-commerce market:

To guarantee business continuity amid the coronavirus emergency, business associations, particularly in highly affected nations, are permitting their employees to work from home. The expansion in individuals working from home has prompted a flood in demand for online video surfing, downloading, and communication through video conferencing, which are all prompting expanded organization traffic and information use. COVID-19 will quicken the demand for agile and flexible work styles and further push the selection of communication services that will, in general, improve work-life balance. On the other side, telecom regulators worldwide have delayed their plans for 5G spectrum sell-off due to the worldwide pandemic. This is foreseen to affect the commercialization of commercial 5G independent deployments and the income produced through such services. The progressing pandemic has constrained telecom service providers worldwide to test their organization strength and return to their arranged investments, particularly in 5G innovation.

REPORT COVERAGE:

This research report on the global m-commerce market has been segmented and sub-segmented based on the payment mode, transaction, users, and region.

Global M-Commerce Market - By Payment Mode:

• NFC            

• Premium SMS        

• WAP          

• Premium SMS        

The NFC segment is estimated to develop at a CAGR of over 17.56% during the figure time frame. Advanced wallets utilizing NFC for contactless card machines incorporate Apple Pay, Samsung Pay, and Google Pay, and this is subsequently fuelling the global mobile commerce market. NFC telephones can communicate with NFC-empowered card machines utilizing closeness radio recurrence ID. The mobile telephones are not expected to contact the retail location to move money, yet they must be inside a couple of creeps of the terminal. NFC includes an immediate and momentary exchange of scrambled information to retail location gadgets instead of chip and PIN innovation that takes more time to measure. For example, in London, transport and cylinder stations acknowledge telephone payments through NFC, where clients normally tap the movement card. Similarly, in China, NFC is acknowledged as a means of payment on all open vehicle systems.

Global M-Commerce Market - By Transaction:

• M Retailing             

• M Ticketing/Booking          

• M Billing   

Mobile retailing has been the primary market for M-Commerce, developing at a CAGR of 14.8% in the foreseen period because of the emergence of mobile payment arrangements, for example, Apple Pay, PayPal one-contact, Visa Checkout, Amazon Pay, and others. There has been a developing pattern for advanced exchanges that have made mobile payment choices ready for use, which is set to drive M-commerce in the retail area. In 2018, PayPal has extended its tasks across approximately 200 nations. Similarly, Amazon Pay offers cashback on exchanges led through it. These offers and motivating forces will quickly encourage interest in the Mobile retailing area, accordingly expanding the demand for the global m-commerce market. Then again, developing customer demand for internet shopping and the high reception of smartphones for web-based shopping is set to open doors for M-commerce businesses, driving business development.

Global M-Commerce Market - By Users:

• Smart Devices       

• Feature Phones    

Smart Devices and Feature Phones are the main end-users in the global m-commerce market, which are foreseen to develop with a considerable growth rate in the coming years.

Global M-Commerce Market – By Region:  

• North America

  • The United States

  • Canada

  • Rest of North America

• Europe

  • The United Kingdom

  • Spain

  • Germany

  • Italy

  • France

  • Rest of Europe

• The Asia Pacific

  • India

  • Japan

  • China

  • Australia

  • Singapore

  • Malaysia

  • South Korea

  • New Zealand

  • Southeast Asia

• Latin America

  • Brazil

  • Argentina

  • Mexico

  • Rest of LATAM

• The Middle East and Africa

  • Saudi Arabia

  • UAE

  • Lebanon

  • Jordan

  • Cyprus

North America dominated the global M Commerce market with a portion of more than 35%, trailed by Europe and APAC. High adoption of new emerging advancements in the U.S. compared to different continents supports market development. The major players, like MasterCard, PayPal, Visa Inc, Google, and many other players, are settled in the North American area, which is set to drive the M-commerce market because of high subsidizing and investments. In 2018, Amazon, which has a base camp in the U.S., incorporated its M-commerce business with its online business. Amazon is jumping ahead in mobile commerce as one of the principal retailers to help Apple's general connections, a move that could drive in-application transformations and conceivably reject deals from those not supporting the new ability. With widespread connections, looking on an iPhone and tapping on a retailer's link consumers will be taken instantly to the relevant page in that retailer’s application in the event that it is on the client's mobile phone. This could help in driving mobile transformations as the application client experience can be superior to a retailer's mobile site. Adoption of new methodologies by major players for their organizations is set to make ample open doors for M-commerce business in North America, Europe and APAC.

KEY MARKET PARTICIPANTS:

The major companies operating in the M-Commerce market include Ericsson, Google, Gemalto, IBM, MasterCard, Oxygen8, Mopay, PayPal, Visa, SAP, etc. Additionally, a few online retail sites include Amazon, eBay, Walmart, Flipkart, and Jabong.