Rising Prominence of Smartphones and Tablets for Online Shopping Drives the Global M-Commerce Market, According to New Report by Global Industry Analysts, Inc.
San Jose, California (PRWEB) May 15, 2014 -- Follow us on LinkedIn – An important component of electronic financial services sector, M-commerce has emerged as a dominant marketing and sales platform, which helps in carrying out business transactions through Internet-enabled wireless devices using mobile applications. M-commerce, offered as a mobile value added service, comprises mobile online retail purchases, mobile banking, mobile utility payments, mobile advertising and marketing, mobile trade services, mobile coupons, vouchers, and loyalty cards, mobile ticketing, mobile brokerage, content purchase and delivery, and information services including stock quotes.
Rapidly changing shopping patterns and consumer spending habits represent the most important growth drivers for the market as customers increasingly use Internet on-the-move to make informed purchase decisions. Growing mobile Internet user base and increasing usage of mobile devices such as smartphones and tablets for online shopping are driving the adoption of M-commerce services. M-Commerce services are also gaining rapid acceptance due to superior security offered compared to Internet IP address, faster and scalable content delivery over mobile devices, wider reach, lower transaction costs, reduced order time, and streamlined business processes.
Rising deployment of 3G, 4G, and 5G mobile network technologies interconnecting various wireless networks such as WPAN, WBAN, WMAN, and WLAN offers significant growth opportunities for the m-commerce market. Introduction of advanced smartphones, emergence of high-speed mobile Internet and robust demand from developing markets such as China and India will continue to augment market opportunities. Most of the Internet enabled mobile phones currently being launched already come integrated with a standard mobile web browser, thereby presenting a ready-made source for mobile commerce.
Highly-personalized, location-sensitive, context-aware, and time-critical applications represent promising mobile commerce applications. Availability of attractive M-commerce Apps that provide merchant services for mobile devices and accept credit card payments through mobile phones is expected to benefit m-commerce adoption in the coming years. Rapid proliferation of smartphones and growing demand for online services, content, and virtual goods is driving the adoption of mobile payments. The mode of shopping is undergoing a transformation due to advancements in payment technologies. The market for m-commerce is expected to benefit from continuous investments in technology developments and innovations designed to develop better m-commerce tools and payment modes. Consumer desire for convenience in point of sale (POS) payments is driving the adoption of NFC-based mobile wallets.
As stated by the new market research report on M-Commerce, Asia-Pacific represents the largest regional market worldwide. The region is also forecast to emerge as the fastest growing market with a CAGR of 32.9% over the analysis period. Huge mobile population, growing base of affluent middle class households, rising disposable incomes, improving broadband penetration, strong demand for smartphones and tablets and increasing popularity of mobile data services represent key growth drivers in the region.
Key players covered in the report include Alibaba Group, Amazon.com Inc., Apple Inc., Branding Brand, Digby, eBay Inc., Fandango Inc., International Business Machines Corporation, Moovweb Intergalactic, Netbiscuits, Otto Group, ShopNBC, Sevenval GmbH, SiteMinis Inc., Skava, Target Corporation, Unbound Commerce, Usablenet Inc., VeriFone Systems Inc., and Wal-Mart Stores Inc., among others.
The research report titled “M-Commerce: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, growth drivers, service innovations and launches, and strategic industry activities of major companies worldwide. The report provides market estimates and projections in dollars for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, South Korea and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America) and Rest of World.
For more details about this comprehensive market research report, please visit – http://www.strategyr.com/M_Commerce_Mobile_Commerce_Market_Report.asp.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1500+ full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/
###
Raghu Gopal, Global Industry Analysts Inc, +1 408-528-9966, [email protected]
Share this article