Global Mobile Commerce Market to Reach US$ 12,665.8 Billion by 2032, Impelled by Increasing Adoption of Cashless Payment Methods

March 31, 2021 | Technology & Media

According to the recent report by IMARC Group, titled “Mobile Commerce Market Report by Transaction Type (M-Retailing, M-Ticketing, M-Billing, and Others), Payment Mode (Near Field Communication (NFC), Premium SMS, Wireless Application Protocol (WAP), and Others), Type of User (Smart Device Users, Feature Phone Users), and Region 2024-2032,” the global mobile commerce market size reached US$ 1,452.9 Billion in 2023. Mobile commerce, or m-commerce, is a type of e-commerce that includes online commercial transactions conducted through wireless handheld devices, such as tablets and smartphones. It offers in-app purchases of products, bill payments, mobile banking, virtual marketplace apps, and digital wallets, like Apple Pay, Google Pay, Venmo, and Paytm. The money exchange in m-commerce is authorized, initiated, and confirmed by point-of-sale (POS) terminals. These terminals process payments by using the internet or nearfield communications.

Global Mobile Commerce Market Trends:

The global mobile commerce market is primarily being driven by the rapid rise in the number of mobile and internet users. This is further catalyzed by the increasing development of mobile applications for several activities, such as bill payments and fund transfer. Moreover, m-commerce merchants have been incorporating their platforms with several fraud-prevention tools, such as card verification value (CVV), address verification service (AVS), fraud scoring and authentication checks. This, coupled with the onset of coronavirus disease (COVID-19) pandemic that prompted governments of several countries to undertake initiatives to promote digital or cashless payment methods, is creating a positive outlook for the market further. Looking forward, IMARC Group expects the market value to reach US$ 12,665.8 Billion by 2032, growing at a CAGR of 26.4% during 2024-2032.

Market Summary:

On the basis of the transaction type, the market has been divided into m-retailing, m-ticketing, m-billing, and others. Amongst these, m-retailing is the most popular transaction type.
Based on the payment mode, the market has been segmented into near field communication (NFC), premium SMS, wireless application protocol (WAP), and others.
Based on the user, the market has been bifurcated into smart device and feature phone users.
On the geographical front, the market is segmented into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa. Currently, Asia Pacific holds the leading position in the market.
The competitive landscape of the industry has also been examined, with some of the key players being Amazon.com Inc, Apple Inc., ASOS.com Limited, eBay Inc, Ericsson Inc., Gemalto (Thales Group), Google LLC, International Business Machines (IBM)Corporation, Mastercard Inc., mopay Inc., Netflix, Inc., PayPal Holdings, Inc., SAP ERP, and Visa Inc.

Report Coverage:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Segment Coverage	Transaction Type, Payment Mode, Type of User, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	Amazon.com Inc, Apple Inc., ASOS.com Limited, eBay Inc, Ericsson Inc., Gemalto (Thales Group), Google LLC, International Business Machines (IBM)Corporation, Mastercard Inc., mopay Inc., Netflix, Inc., PayPal Holdings, Inc., SAP ERP, and Visa Inc.
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 3899 Five User License: US$ 4899 Corporate License: US$ 5899
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Mobile Commerce Market to Reach US$ 12,665.8 Billion by 2032, Impelled by Increasing Adoption of Cashless Payment Methods

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