Mobile commerce, or M-commerce, refers to the selling and buying of services and goods over wireless handheld devices like tablets, smartphones, palmtop, laptop, or other personal digital assistant (PDA). A user, by using M-commerce, can carry out several tasks like book movie tickets, railway reservation, order books, pay bills, read & watch news, and so on.
The key factor driving the growth of the global mobile commerce (M-commerce) market is the rising usage of portable devices like smartphones, tablet, and internet-enabled devices. Further, the market growth is projected to be propelled by the mobile application structure development, enhancement in network bandwidth like advent of 5G, along with accessibility of services & goods from key players on e-commerce. In addition, growing demand for numerous mobile payment systems like PayPal one-touch, Apple pay, Amazon Pay, Visa Checkout along with technological progresses in the wireless handheld devices through in augmented reality (AR) giving the advantage of great computing power will drive the market during the forecast period. Also, Covid-19 outbreak has resulted rise in individuals working from home causing an upsurge in need for online video downloading, viewing, and communication via video conferencing, further resulting in escalated data usage and network traffic. Rising implementation of Bring Your Own Device (BYOD) is also projected to develop prospects for market players during the coming period.
The mobile commerce (M-commerce) market can be segregated based on payment modes, transaction type, and region. By transaction type, the market is divided into M ticketing/booking, M retailing, and M billing. The market, by payment modes is categorized into direct carrier billing, near field communication (NFC), wireless application protocol (WAP), and premium SMS.
Regionally, the global mobile commerce (M-commerce) market is governed by North America with highest share in market in terms of revenue owing to existence of online retailers like Amazon, eBay, and Walmart with robust broadband connectivity infrastructure. Further, Asia Pacific region is also anticipated to be quickest flourishing market during the forecast period on account of the increasing use of smartphones and rising inclination toward online shopping along with mobile payment systems.
Few of prominent competitors within the global mobile commerce (M-commerce) market consist of Google, Ericsson, IBM, Gemalto, Oxygen8, MasterCard, PayPal, Mopay, SAP, Visa, eBay, Amazon, Flipkart, Jabong, and Walmart, among others. To cite, in April 2019, the technology leader dedicated to digital industries, ABB, and Ericsson fortified their partnership to speed up the industrial system for flexible wireless automation.