Global M-Commerce Market Size to Hit USD 1,847.45 billion by 2030

The Global M-Commerce market is expected to reach USD 1,847.45 billion by 2030 from USD 306.6 billion in 2022, increasing At a CAGR of 29.25% from the forecast period 2022-2030.

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Mobile technology advancements and higher smartphone adoption have resulted in considerable growth in the global mobile commerce sector. Furthermore, as disposable income has increased, internet penetration has increased, and cellphones have become more affordable, particularly in emerging economies, the consumer base of M-Commerce has grown significantly. The purchase and/or selling of products and services via mobile platforms have grown business globally, resulting in the development of technologies and applications for mobile users to increase efficiency and profitability. Consumer purchasing habits have shifted as they turn to mobile and online platforms for impulse purchases. Global firms are attempting to capitalize on this potential to extend their client base through brand loyalty by raising awareness of M-Commerce through cashback/discount offers on mobile wallets and credit/debit cards. This market is characterized by intense rivalry as a result of the presence of established global firms who have made significant investments and engaged in extensive promotional activities. The M-Commerce market is predicted to expand rapidly and to continue to innovate in the foreseeable future.

However, the fact that smartphones are becoming increasingly safe, some users are still hesitant to do financial transactions on mobile devices. Mobile phone networks are more vulnerable to criminal activity than traditional PC internet connections. The current technology for establishing an M-commerce business is prohibitively expensive, necessitating large initial expenditures.

M-Commerce Market Scope and Segment

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Report Highlights

M-Commerce Market is segmented on the basis of payment mode, user type and transactions. Further by Payment Modes market is divided into Premium SMS, Wireless application protocol (WAP), Near Field Communication (NFC), and Direct Carrier Billing. By User Type it is bifurcated into Feature Phone Users and Smart Device Users. By Transactions, M-Commerce Market is segmented as M Retailing, M Booking, M Billing, and Others.

During the forecast period, NFC technology is expected to increase at a CAGR of more than 17.56 percent. Apple Pay, Samsung Pay, and Google Pay are among the digital wallets that use NFC for contactless card machines, and this is expected to fuel the mobile commerce business. Using close-proximity radio frequency identification, NFC phones can communicate with NFC-enabled card machines. To transfer money, mobile phones do not need to touch the point of sale, but they must be within a few inches of the terminal.

Due to the introduction of mobile payment options such as Apple Pay, PayPal one-touch, Visa Checkout, Amazon Pay, and others, mobile retailing has been the key market for M-Commerce. There has been an increase in the usage of digital transactions, which has prepared the way for the use of mobile payment options, which is expected to stimulate M-commerce in the retail sector. PayPal's services were expanded to nearly 200 countries in 2018. Similarly, Amazon Pay provides rewards on transactions made through it. These kinds of deals and incentives will quickly increase demand for the mobile retailing sector, consequently raising demand for the M Commerce industry.

Regional Overview

Following the E-commerce era, M-Commerce is anticipated to be the next important step in technological participation. However, in comparison to other countries such as Sweden and Japan, its adoption and level of use are high in the United States. Many major players are also present in the United States, and the region has high internet penetration rates, which contributes to the trend's expansion. The proliferation of smartphones and other technology, such as wearables, has also contributed to the region's smartphone boom.

Competitive Landscape

The report includes qualitative and quantitative research on the global M-Commerce Market, as well as completes insights and development strategies used by the leading competitors. The report also includes detailed research on the top competitors in this market, as well as information on their competitiveness. The study also recognises and analyses key business tactics employed by these leading market actors, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The research looks into each company's global presence, rivals, service offerings, and specifications, among other things.

List of Key Players in the Global M-Commerce Market:

• Alibaba Group Holding Ltd.
• Ericsson
• Google Inc.
• Gemalto
• IBM
• MasterCard
• PayPal Holdings Inc.
• Visa
• Mopay
• Amazon.com
• Apple Inc.
• eBay Inc.
• SAP
• ASOS.com
• Microsoft Corp

Global M-Commerce Market Segment as Follows:

By Payment Modes

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

By Transactions

• M Retailing
• M Booking
• M Billing
• Others

By User Type

• Feature Phone Users
• Smart Device Users

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