Mobile Commerce Market Size - By Payment mode (Near Field Communication, Premium SMS, Wireless Application Protocol), Type of User (Smart Device Users, Feature Phone Users), Transaction Type (M-Retailing, M-Ticketing, M-Billing) & Forecast, 2024 - 2032
Published Date: March - 2025 | Publisher: MIR | No of Pages: 240 | Industry: Media and IT | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationMobile Commerce Market Size
Mobile Commerce Market was valued at USD 611.6 billion in 2023 and is forecast to exhibit a CAGR of over 25.5% from 2024 to 2032. The universal adoption of high-speed mobile internet like 4G & 5G networks has revolutionized mobile commerce. Stable & high-speed internet connectivity offers seamless access to online platforms, offering instant loading time & convenient navigation for customers. The enhanced communication not only boosts the overall user experience but also encourages consumers to engage in mobile commerce activities. This leads to more transactions and revenues for companies engaging in business in the digital economy.
In order to gain key market trends
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The availability of secure and encrypted mobile payment systems has improved consumer trust. Tokenization & biometric authentication technologies ensure safe transactions, ending the fear of fraud and data breaches. With consumers perceiving mobile payments as secure, they are likely to use mobile devices to make payments. This increased consumer confidence is propelling the market growth, providing a good business climate for businesses and consumers to make safe transactions.
| Report Attribute | Details |
|---|---|
| Base Year | 2023 |
| Mobile Commerce Market Size in 2023 | USD 611.6 Billion |
| Forecast Period | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR | 25.8% |
| 2032 Value Projection | USD 4.66 Trillion |
| Historical Data for | 2018 - 2023 |
| No. of Pages | 220 |
| Tables, Charts & Figures | 269 |
| Segments covered | Payment mode, Type of User, and Transaction Type |
| Growth Drivers |
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| Pitfalls & Challenges |
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What are the growth opportunities in this market?
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Payment gateways are an essential part of mobile transactions. Technical malfunctions, server crashes, or incompatible interfaces may result in failure of a transaction, frustrating customers and causing business revenue loss. Moreover, complicated checkout processes or limited payment avenues may discourage customers. To prevent such situations, streamlining payment gateways, compatibility with various systems, and offering ample payment avenues are crucial. Overcoming these challenges is also crucial to providing a seamless & uniform payment experience for mobile commerce consumers.
COVID-19 Impact
The pandemic of COVID-19 increased the mobile commerce sector significantly. In lockdown periods and social isolation, customers had turned to cell phones for transactions, leading to a boom of online purchases. Firms retorted by refining mobile applications, offering touch-free payments, and optimizing mobile sites. This transformation encouraged an added level of comfort, triggering the user interaction. Additionally, it encouraged many leading firms to embrace mobile-commerce-enabling, widening their horizon, and diversifying the revenue avenues during the pandemic.
Mobile Commerce Market Trends
Technological advancement is driving the mobile commerce sector. Emerging technologies, such as 5G connectivity, Augmented Reality (AR), and Artificial Intelligence (AI), are enhancing user experience. Enhanced internet speeds enable seamless transactions, and AR provides experiential product visualization.
For instance, in July 2022, U.S.-based retail firm Walmart enhanced the AR capability of its consumer app with the introduction of new features. Consumers on the app can now explore a larger collection of over 7,000 AR-enabled home items, including product categories such as indoor/outdoor furniture, electronics, lighting, etc., thus providing immersive view experiences directly through the app. All such enhancements are collectively fueling the industry growth by developing secure, convenient & engaging shopping environments.
Mobile Commerce Market Analysis
Discover more about the major segments influencing this market
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As far as mobile commerce, there are actually several different onespurchasing goods (m-retailing), receiving tickets (m-ticketing), paying bills (m-billing), and there are many other things. Of all these options, the largest segment in 2023 was purchasing goods (m-retailing). One great reason for that is that companies are trying hard to make a purchase on their phone simpler and more fun to do. They're making their apps simpler, suggesting products to you, and making it super simple to purchase items. They're also making it easier to pay for things and pick them up in the store. Walmart, for example, rolled out a new app in December of 2022 called Text to Shop. With the app, you can build a shopping list to utilize when you shop at the store or order something so that it can be picked up from the store later. You even get to choose which Walmart to pick it from.
Learn more about the top segments propelling this market
By payment method, the Near Field Communication (NFC) segment held over 38% of the mobile commerce market share in 2023 and is projected to grow through 2032. NFC technology is thriving due to its unrivaled convenience and security. NFC enables fast, touch-free transactions with device tapping and offers an easy payment experience.
Also, as hygiene and safety were of highest concern during the pandemic, contactless payments using NFC technology witnessed massive adoption and proved to be a top choice. The prevalence of NFC-supported payment counters in the retail environment and becoming part of popular mobile wallets like Apple Pay & Google Pay have further boosted its usage. This has made NFC a standard technology for safe, effortless, and future-proof mobile payments.
Want to view region specific data?
North America led the way in mobile commerce in 2023, generating a whopping 37% of all the money spent. This phenomenal growth is largely credited to innovative STEM learning toys, which are leading the way. Here, where the internet is lightning-fast and everyone prefers convenience, mobile commerce is booming. The lightning-fast internet allows us to easily purchase things on our phones without issues, which is ideal for the millions of people who value convenience above all else. And almost everybody has a smartphone now, and folks are shopping online like mad. So it should come as no surprise that mobile commerce is a biggie in North America. It's the perfect stormconvenience-love, tech-savvy consumers, and a solid base of internet. All these are fueling the mobile commerce industry like a rocket, and it's quickly becoming a mainstay of how we shop in North America.
Mobile Commerce Market Share
Major companies operating in the mobile commerce industry are
- Amazon.com Inc.
- eBay Inc.
- Gemalto (Thales Group)
- GPShopper
- International Business Machines (IBM) Corporation
- Kony Mobility Platform
- Mastercard Inc.
- PayPal Holdings Inc.
- Visa Inc.
Dominating players in the market continually innovate, focusing on user experience, security, and seamless integration. The intense competition fosters advancements, benefiting consumers with diverse, user-friendly options.
Mobile Commerce Industry News
- In September 2023, Bajaj Finance Ltd. partnered with Flipkart, an e-commerce platform, to transform the mobile shopping experience during festive seasons. Through this partnership, customers can enjoy a wide array of exclusive offers, appealing pricing, and no-cost EMI financing options, enhancing their festive shopping endeavors.
The mobile commerce market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) from 2018 to 2032, for the following segments
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Market, By Payment mode
- Near Field Communication (NFC)
- Premium SMS
- Wireless Application Protocol (WAP)
- Others
Market, By Type of User
- Feature Phone Users
- Smart Device Users
Market, By Transaction Type
- M-Retailing
- M-Ticketing
- M-Billing
- Others
The above information has been provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Nordics
- Asia Pacific
- China
- India
- ANZ
- Japan
- South Korea
- Southeast Asia
- Latin America
- Brazil
- Mexico
- Argentina
- MEA
- UAE
- South Africa
- Saudi Arabia
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