Mobile commerce is a kind of e-commerce where the selling and buying of goods take place through wireless electronic handheld mobile devices. It includes notebooks, tablets, smartwatches, smartphones, mobile phones, and others. M-commerce assists users to access online shopping platforms with mobile devices without any requirement of desktop computers. Examples of m-commerce include in-app purchases, mobile banking, virtual marketplace applications like the Flipkart mobile app, and digital wallets like Android pay, Apple Pay, & Google pay.
The ongoing technological advancements in mobile technology are the primary reason for the growth of the global mobile commerce (M-Commerce) market. Mobile devices have now become a core center around which numerous technologies and applications. Nowadays, every technology is very well compatible with mobile phones. The growing number of mobile device users all across the globe is highly influencing the above factors. Furthermore, the growing smartphone penetration has significantly transformed offline activities into online ones. For example, people are widely using these e-commerce apps like Flipkart and Amazon for shopping their essentials and grocery items which initially were brought through offline modes. The outbreak of the Covid-19 pandemic is contributing significantly towards the growth of the market due to the worldwide lockdown. The growing efforts of marketers to launch mobile-optimized e-commerce applications and websites are likely to positively shape the trajectory of the global market. Moreover, the advancements in integrated advanced technology electronics like broadband internet are likely to create many lucrative growth opportunities in the market during the forecast period.
The global mobile commerce (M-Commerce) market can be segmented into payment mode, transaction type, and region.
By payment mode, the market can be segmented into direct carrier billing, wireless application protocol, near field communication, and others.
By transaction type, the market can be segmented into m-billing, m-ticketing, m-retailing, and others.
North America accounts for the largest share in the global mobile commerce (M-Commerce) market owing to the fact that a growing number of users are integrating their e-commerce business with advancing technologies. Also, the presence of prominent market players in the region will further accentuate the growth of the regional market.
Asia Pacific is expected to witness a steady growth rate during the forecast period due to the presence of a strong customer base and tech-savvy population in the region.
Some of the significant players in the global mobile commerce (M-Commerce) market are Jabong, Flipkart, Walmart, eBay, Amazon, SAP, Visa, PayPal, Mopay, Oxygen8, MasterCard, IBM, Gemalto, Google, and Ericsson. To cite, MasterCard announced to acquire Ethoca in March 2019. The acquisition strategy is likely to provide greater protection in digital space for the integration of a robust suite of security products and fraud management solutions.