Global M-Commerce Market Projected to Reach USD 3,901 Million by 2026

18-Dec-2020 | Facts and Factors

Findings from Facts and Factors report “M-Commerce Market By Payment Modes (Premium SMS, Wireless application protocol (WAP), Near Field Communication (NFC), and Direct Carrier Billing), By User Type (Feature Phone Users and Smart Device Users), and By Transactions (M Retailing, M Booking, M Billing, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global M-Commerce Market in 2019 was approximately USD 472 billion. The market is expected to grow at a CAGR of 34.9% and is anticipated to reach around USD 3,901 billion by 2026.

M-Commerce Market Size

Request Sample Request Customization Buy Now

The Global M-Commerce Market Is Powered By Economic Development, Technological Advancement, Rising Demand From End-User Industries.

Mobile commerce, more popularly known as m-commerce is a subset of e-commerce. It refers to the completion of commercial transactions online with the help of handheld devices like a mobile or tablet. The term mobile commerce was incepted in 1997 at the global mobile commerce forum and the exact wording while defining mobile commerce was “the delivery of electronic commerce capabilities directly into the consumer’s hand, anywhere, via wireless technology. Technological developments like swift processing power, faster internet, advanced smartphone devices, and efficient supply chain management have propelled the growth of the m-commerce market. One of the important reasons for mobile commerce becoming more and more convenient is due to digital wallets that enable easy and secure transactions.

Browse the full “M-Commerce Market By Payment Modes (Premium SMS, Wireless application protocol (WAP), Near Field Communication (NFC), and Direct Carrier Billing), By User Type (Feature Phone Users and Smart Device Users), and By Transactions (M Retailing, M Booking, M Billing, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026report at https://www.fnfresearch.com/m-commerce-market

In this age of information, a decision made by an individual is based on the information he or she possesses and the majority of the buyers of e-commerce does this mining of information through handheld devices as a result of which more and more companies have dedicated their resources to optimize their website for mobile usage and increase their sales through mobile apps. When it comes to e-retail it has been observed that more than 50% of the shopper’s access through mobile phones, slightly less than 405 from PCs and very low numbers from the tablet.

According to Statista, US consumers use their mobile devices while shopping in retail stores. They do it for various reasons. 61% of consumers compare prices while in-store, and 63% of them use mobile app coupons for in-store purchases. Additionally, 56% of customers use their mobile devices to review store inventories. There are numerous benefits of m-commerce as compared to e-commerce though the goal of both is the same. m-commerce enables customers to make transactions on the move. Location tracking capabilities of m-commerce apps provide content based on location and interests. It helps local businesses to target the customers through promotional offers and nudge customers towards their products.

The demand for M-Commerce is expected to be driven by an increase in the demand for smartphones. Smartphones are increasingly becoming a ubiquitous part of everyday life. The numbers of users are close to 3 billion and it is expected that this number will further move upwards. Majority of demand is concentrated in China, India, and the US. Each smartphone holder is a potential m-commerce consumer thus in the forecast period there is humongous demand for m-commerce.

Another important driving factor for the m-commerce market is the investments by the corporates in the m-commerce platform due to the benefits it offers. M-commerce increases customer retention rate through various loyalty programs. It is convenient for consumers to make an informed decision. It allows to compare prices, see product reviews, and based on it make a purchasing decision. Investments by retailers to improve user experience like giving the experience of virtual stores by using the emerging technology of VR/AR has becoming successful strategy to lock in customers and increase customer loyalty.

However, major challenges of the m-commerce market is lack of robust cyber security and data theft through the complex attack. The user experience of customers is dependent on many stakeholders, thus it becomes challenging to bring synchronization and synergy in many stakeholders in supply chain. Despite these challenges, the commercialization of 5G and internet penetration will showcase numerous opportunities.

In terms of geography, m-commerce market is expected to drive by the regions which have a maximum. access to smartphone thus North America and Asia Pacific region is expected to register significant growth. The European region is also expected to register significant growth due to investment in the m-commerce sector. Africa and Latin America region is anticipated to register growth owing to rising middle-class population.

Report Scope

Report Attribute

Details

Market Size in 2019

USD 472 Billion

Projected Market Size in 2026

USD 3,901 Billion

CAGR Growth Rate

34.9% CAGR

Base Year

2019

Forecast Years

2020-2026

Key Market Players

3D Systems Corporation, Ericsson, Gemalto, Google, IBM, MasterCard, Mopay, Oxygen8, PayPal, SAP, and Visa, and Others

Key Segment

By Payment, User, Transactions, Region

Major Regions Covered

North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa

Purchase Options

Request customized purchase options to meet your research needs.Explore purchase options

Some of the leading and top companies in M-Commerce market include

3D Systems Corporation, Ericsson, Gemalto, Google, IBM, MasterCard, Mopay, Oxygen8, PayPal, SAP, and Visa among various other

The taxonomy of the m-commerce market by its scope and segmentation is as follows:

By Payment Modes Segmentation Analysis

  • Premium SMS 
  • Wireless application protocol (WAP) 
  • Near Field Communication (NFC) 
  • Direct Carrier Billing 

By User Type Segmentation Analysis

  • Feature Phone Users 
  • Smart Device Users

By Transactions Segmentation Analysis

  • M Retailing 
  • M Booking 
  • M Billing 
  • Others

By Regional Segmentation Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • Germany
    • The UK
    • France
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

About Us:

Facts & Factors is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Facts and Factors are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds. Our client’s/customer’s conviction on our solutions and services has pushed us in delivering always the best. Our advanced research solutions have helped them in appropriate decision-making and guidance for strategies to expand their business.

Contact Us:
Facts & Factors

A 2108, Sargam,
Nanded City,
Sinhagad Road,
Pune 411041, India
USA: +1 (347) 690-0211
Email: [email protected]
Web: https://www.fnfresearch.com


Latest Market Research Reports

report img

Open Banking Market Report 2024 – 2032

[214+ Pages Report] According to Facts Factors, the global open banking market size was valued at USD 26.05 billion in 2023 and is predicted to surpass USD 233.60 billion by the end of 2032. The open banking industry is expected to grow by a CAGR of 27.60% between 2024 and 2032. Open Banking Market

Published Date : 04-Oct-2024 | | Category : Public Sector | Pages : 214 | Format : Read more

Inquiry for Buying Request Sample
report img

Data Protection as a Service Market Report 2024 – 2032

[215+ Pages Report] According to Facts Factors, The global data protection as a service market size in terms of market volume was valued at USD 19.81 billion in 2023 and is predicted to surpass USD 106.89 billion by the end of 2032. The data protection as a service industry is expected to grow by a

Published Date : 04-Oct-2024 | | Category : Technology & Media | Pages : 215 | Format : Read more

Inquiry for Buying Request Sample
report img

Generative AI in Automation Market Report 2024 – 2032

[213+ Pages Report] According to Facts Factors, the global generative AI in automation market size in terms of market volume was valued at USD 7.07 billion in 2023 and is predicted to surpass USD 124.22 billion by the end of 2032. The generative AI in automation industry is expected to grow by a CA

Published Date : 03-Oct-2024 | | Category : Technology & Media | Pages : 213 | Format : Read more

Inquiry for Buying Request Sample
report img

Embedded Finance Market Report 2024 – 2032

[214+ Pages Report] According to Facts Factors,the global embedded finance market size in terms of market volume was valued at USD 67.60 billion in 2023 and is predicted to surpass USD 948.04 billion by the end of 2032. The embedded finance industry is expected to grow by a CAGR of 34.10% between 2

Published Date : 03-Oct-2024 | | Category : Public Sector | Pages : 214 | Format : Read more

Inquiry for Buying Request Sample
report img

Customer Journey Mapping Software Market Report 2024 – 2032

[226+ Pages Report] According to Facts Factors, the global customer journey mapping software market size was valued at USD 597.99 million in 2023 and is predicted to surpass USD 2,971.70 million by the end of 2032. The customer journey mapping software industry is expected to grow by a CAGR of 19.5

Published Date : 26-Sep-2024 | | Category : Software and Services | Pages : 226 | Format : Read more

Inquiry for Buying Request Sample

Why FnF Market Research?

1 Inflallible Methodology

to ensure high-level data integrity, accurate analysis, and impeccable forecasts

2 Analyst Support

for complete satisfaction

3 Customization

on-demand customization of scope of the report to exactly meet your needs

4 Targeted Market View

Targeted market view to provide pertinent information and save time of readers

5 Agile Approach

A faster and efficient way to cater to the needs with continuous iteration