Mobile Commerce Market Expected to Reach US$ 4,711.9 Billion by 2027, CAGR of 33.4%

February 06 23:56 2023
Mobile Commerce Market Expected to Reach US$ 4,711.9 Billion by 2027, CAGR of 33.4%
Mobile commerce, also called m-commerce, represents a subset of e-commerce that usually involves the use of wireless handheld devices for conducting commercial transactions online. The global market reached a value of US$ 833.9 Billion in 2021.

According to IMARC Group’s latest report, titled “Mobile Commerce Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global mobile commerce market reached a value of US$ 833.9 Billion in 2021. Looking forward, IMARC Group expects the global mobile commerce market to reach US$ 4,711.9 Billion by 2027, exhibiting a CAGR of 33.4% during 2022-2027.

Mobile commerce, also called m-commerce, represents a subset of e-commerce that usually involves the use of wireless handheld devices for conducting commercial transactions online. It comprises in-app purchases, mobile banking, and virtual marketplace apps, such as the Amazon mobile app and digital wallets, which include Google Pay, Apple Pay, Samsung Pay, etc. In line with this, mobile commerce utilizes cellphones, smartphones, smartwatches, tablets, etc., to authorize, initiate, and confirm the exchange of money. This is facilitated by the easy availability of point-of-sale (POS) terminals that process transactions by using nearfield communications or the internet.

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Mobile Commerce Market Trends:

The widespread adoption of wireless handheld devices that provide enhanced security, convenience, and easy access to the internet is primarily driving the mobile commerce market. Additionally, the introduction of numerous safety features in biometrics authentication, such as fingerprint and facial recognition, that have made mobile payments more secure is further catalyzing the market growth. Besides this, the growing inclination among tech-savvy consumers towards digital wallets and online payment gateways is acting as another significant growth-inducing factor.

Moreover, several service providers are collaborating with mobile operators to offer advanced payment solutions, which is positively influencing the global market. Apart from this, m-commerce merchants have been incorporating their platforms with various fraud-prevention tools, such as address verification service (AVS), card verification value (CVV), fraud scoring, authentication checks, etc., thereby augmenting the market growth. Furthermore, the emerging trend of bring-your-own-device (BYOD) and the rising broadband connectivity are anticipated to fuel the mobile commerce market over the forecasted period.

Note: The Report offers a comprehensive analysis of the industry, which comprises insights on the global market statistics. The report also includes competitor and regional analysis, and contemporary advancements in the global market.

Competitive Landscape with Key Players:

The competitive landscape of the industry has also been examined with some of the key players.

  • com Inc
  • Apple Inc.
  • ASOS
  • eBay
  • Ericsson Inc.
  • Gemalto
  • Google
  • IBM
  • Mastercard Inc.
  • Mopay
  • Netflix
  • PayPal
  • SAP
  • Visa

Key Market Segmentation:

The report has categorized the market based on transaction type, payment mode and type of user.

Breakup by Transaction Type:

  • M-Retailing
  • M-Ticketing
  • M-Billing
  • Others

Breakup by Payment Mode:

  • Near Field Communication (NFC)
  • Premium SMS
  • Wireless Application Protocol (WAP)
  • Others

Breakup by Type of User:

  • Smart Device Users
  • Feature Phone Users

Breakup by Region:

  • 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 (2016-2021)
  • Market Outlook (2022-2027)
  • 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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