According to IMARC Group’s latest report, titled “Mobile Commerce Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global market reached a value of US$ 833.9 Billion in 2021. Mobile commerce (M-commerce) includes a wide range of services, including mobile banking, virtual retail apps, digital wallets, in-app purchases, etc. It is associated with several wireless handheld devices for conducting commercial transactions. The adoption of M-commerce platforms depends upon the availability of point-of-sale (POS) terminals that authorizes, initiates, and confirms the exchange of money by using the internet or nearfield communications.
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The increasing proliferation of wireless handheld devices has augmented the global market for M-commerce. Furthermore, the rising utilization of M-commerce solutions has enabled consumers to make mobile-based payments through digital wallets and online payment gateways. Additionally, the growing awareness towards several benefits of M-commerce, including contactless payments, elimination of card swiping and manual entry, minimal human errors, smoother checkout experience, etc., is also propelling the market growth. Moreover, the rising integration of mobile and wearable devices with several safety features, such as biometrics authentication, facial recognition, etc., will continue to further drive the global market for mobile commerce in the coming years. 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.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
- com Inc
- Apple Inc.
- Ericsson Inc.
- Mastercard Inc.
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
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, 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.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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