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(MoneyNewsWire.Net, November 16, 2016 ) MarketsandMarkets broadly segments the M Commerce market on the basis of transactions: Mobile Retailing, Mobile TicketingBooking, Mobile Billing and other M Commerce services; by payment modes: Premium SMS, Direct Mobile Billing, NFC and WAP; by end-users: Smart Device Users, Feature Phone Users; by regions such as North America (NA), Europe, Asia Pacific (APAC), Middle East and Africa (MEA) and Latin America (LA).
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The M Commerce market is poised for good growth prospects with investments in the coming future due to increase in the smartphone, tablets, mobile devices, BYOD and internet enabled devices. However, accompanying these would be challenges such as securing the flow of information, application and network infrastructure, and intense competition. The evolution of the mobile application infrastructure, cross-platform communication methods and the familiarity of people with the mobile applications and services would brighten the future of M Commerce services.
With the fast moving internet technology and increasing growth in smartphone market, the world is becoming closer in terms of communication. Due to this, the new modes of business transactions and communication have found their way in the market. M Commerce services are the medium through which people can perform business transactions and communication with each other without paying heavy charges unlike in traditional mode of services.
M Commerce market is experiencing new innovations from major mobile and technology players such as Ericsson, Gemalto, Google, IBM, MasterCard, Mopay, Oxygen8, PayPal, SAP, and Visa among various others. The market for M Commerce is driven by forces such as increasing adoption of smart devices, and increasing growth of broadband connectivity. Also, M Commerce services are cheaper than the traditional services like banking, purchase, or marketing and advertising.
The major driving factors for M Commerce market are increasing adoption of smart devices, better broadband connectivity, cheaper services, socially adoption of M Commerce services etc. M Commerce service providers are facing challenges in terms of dependency on internet networks, monetization of user base, and fierce competition.
MarketsandMarkets forecasts the M Commerce market to grow from $116.1 billion in 2014 to $467.3 billion in 2019. In terms of geographies, North America and Europe is expected to be the biggest market in terms of revenue contribution, while Asia-Pacific (APAC) and MEA are expected to experience increased market traction, during the forecast period.
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sales@marketsandmarkets.com
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