mCommerce Set To Grow At CAGR Of 33.1 Percent

The global mCommerce market is estimated to register robust growth from 2016 to 2022 and is expected to grow at a CAGR of 33.1 percent that period, according to a new report from Research and Markets dubbed “Global M Commerce Market Insights, Opportunity Analysis, Market Shares and Forecast, 2016–2022.”

In a press release highlighting the results, Research and Markets said the mCommerce market is segmented on the basis of payment mode, user, transaction and geography. The payment mode segment is segmented into Direct Carrier Billing, Near Field Communication (NFC), Premium Sms and Wireless Application Protocol (WAP). The transaction type segment is also segmented into M billing, M retailing, M ticketing/booking and other M commerce services.

The growing dispersion rate of smart devices, increasing conjunction between offline and online activities, is raising the growth in the global mCommerce market. Various key players are indulging in various R&D activity to develop mCommerce to enhance efficiency and capture the market potential available in the developing economies. Various key players of mCommerce are exposing the strategic initiatives to maintain position in the global mCommerce market. The increasing mobility across the globe is one of the major factors which is increasing the demand for mCommerce in the global market. The mCommerce market is majorly driven by the increasing demand for smart devices and smartphones in the world.

While the report sees big opportunities, they may not be during the holiday selling season.

According to a differing report, which highlighted research from NetElixir, on average, consumers spend around 22 percent less on mobile than a desktop when it comes to shopping for the holidays. There’s no question that shopping on a mobile device is growing in popularity, with some estimates figuring 30 percent of all purchases online take place via a mobile phone, but NetElixir is forecasting slower-than-usual growth for online sales during the holiday selling season, which is the busiest time of the year for many retailers.