The World Market for Mobile Commerce (2019-2024): Increasing Penetration Rate of Smart Devices Propels Growth

DUBLIN, June 21, 2019 /PRNewswire/ -- The "Global Mobile Commerce Market Outlook 2019-2024: Anticipating a CAGR of 27%" report has been added to ResearchAndMarkets.com's offering.

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The mobile commerce market is expected to register a CAGR of 27% by 2024.

According to a study of over 45,000 shoppers conducted by the Harvard Bussiness Review, only 7% were online-only shoppers,73% of shoppers used multiple channels to shop. This shows that customer experience is consistent across channels such as M-commerce, desktop commerce, and brick and mortar store.

Key Highlights

    --  Many of the payments have been mobile compatible and applications for
        the various kinds of activities such as funds transfer, bill payments
        have been deployed, which further aids to the growth of mobile commerce
        globally.
    --  Advancements in integrated electronics enable the availability of many
        kinds of technologies, like broadband internet, in Handsets and the
        supporting service networks. All these developments open up the
        possibility of offering the user many services of unprecedented nature.
    --  The goal of all the services in one way or the other has to be the
        generation of revenues. This represents an ever-increasing scope of
        Mobile Commerce or m-commerce as a subset of the more generic Electronic
        Commerce or e-commerce, which in general to has been booming with the
        increasing popularity of the Internet.
    --  The factors that are driving the M-Commerce market are increasing
        adoption of smart devices, better broadband connectivity, cheaper
        services, socially adoption of M-Commerce services, etc. However, there
        are certain challenges in terms of dependency on internet networks,
        monetization of the user base, and fierce competition.

Major Market Trends

Growth of Smartphones & Internet Penetration Drive the M-commerce Market

    --  The overall structure of the IT industry is being reorganized, and
        competition in the industry is being expanded and diversified. The
        introduction of smartphones has spurred the creation of limitless
        IT-related markets such as the e-book, tablet PC, and notebook markets.
    --  The growing internet penetration among many developing countries is also
        one of the prime factors for the growth of the market. Many developing
        nations have now adopted the use of m-payments services online wallets
        etc. services, such as m-wallets have been popularized by many
        governmental programs, such as demonetization as an example. This has
        increased the revenue traffic in the market for e-commerce.
    --  Moreover, in the next five-year smartphone market across the world will
        burgeon due to the adaption of smartphone and penetration of the
        internet. However, North America will lead the market followed by Europe
        and the Asia - Pacific but Asia- Pacific will be the fastest growing
        market .

North America Holds the Largest Share

    --  M-Commerce is thought to be the next big phase in technology involvement
        following the E-commerce era. However, its adoption and level of use are
        high in the United States compared to other nations such as Sweden and
        Japan.
    --  Many major players are also present in the United States and the region
        has high internet penetration rates, which aid to the growth of this
        trend. The growth of smartphones and other technology, such as wearables
        has also been a contributing factor to the growth of smartphones in the
        region.
    --  On the contrary, there has been a growth in the number of cyber-attacks
        in the region, which could slow the growth of e-commerce in the region.
    --  Moreover, the tech-savvy environment in the region will boost the growth
        of M-commerce market in North America.

Competitive Landscape

The mobile commerce market is fragmented due to the growing adoption of digitization, e-commerce, and m-commerce making people use these medium more often that gives the wide scope for the players to penetrate the market with technological innovation and developments. Some of the key players include Ericsson, Gemalto (Thales Company), Google, IBM Corporation, Mastercard, Paypal Holding, SAP, Visa, among others.

Recent Developments

    --  April 2019 - Ericsson and ABB, the technology leader focused on digital
        industries, strengthened their collaboration to accelerate the
        industrial ecosystem for flexible wireless automation. The partnership
        will enable enhanced connected services, Industrial IoT and artificial
        intelligence technologies in the future.
    --  March 2019 - Mastercard announced it has entered into an agreement to
        acquire Ethoca, a global provider of technology solutions that help
        merchants and card issuers collaborate in real-time to quickly identify
        and resolve fraud in digital commerce. The Ethoca suite of products adds
        to Mastercard's commitment to drive greater protection in the digital
        space, integrating with its robust suite of fraud management and
        security products.

Topics Covered

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Penetration Rate of Smart Devices
4.2.2 Broader Reach Due to Mobility
4.3 Market Restraints
4.3.1 Lack of High Number Mobile Compatible Websites
4.4 Industry Attractiveness - Porter's Five Force Analysis

5 MARKET SEGMENTATION
5.1 By Transaction Type
5.1.1 M Retailing
5.1.2 M Ticketing/Booking
5.1.3 M Billing
5.1.4 Other Transaction Types
5.2 By Payment Mode
5.2.1 Near Field Communication (NFC)
5.2.2 Premium SMS
5.2.3 Wireless Application Protocol (WAP)
5.2.4 Direct Carrier Billing
5.2.5 Other Payment Modes
5.3 Geography
5.3.1 North America
5.3.2 Europe
5.3.3 Asia-Pacific
5.3.4 Latin America
5.3.5 Middle East & Africa

6 COMPETITIVE LANDSCAPE
6.1 Mergers & Acquisitions
6.2 Company Profiles
6.2.1 Ericsson
6.2.2 Gemalto (Thales Company)
6.2.3 Google Inc.
6.2.4 IBM Corporation
6.2.5 Mastercard Inc.
6.2.6 Mopay AG
6.2.7 Oxygen8
6.2.8 Paypal Holdings
6.2.9 SAP SE
6.2.10 Visa Inc.

7 INVESTMENT ANALYSIS

8 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/h4v2di

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