Global M-commerce Market 2016-2020
About Mobile Commerce
Mobile commerce or m-commerce refers to buying and selling of goods and services using hand-held devices like smartphones and tablets. Rapid technological advances have brought significant growth to the mobile device and global m-commerce market, with more and more people inclined to use smart devices to carry out their m-commerce activities. Higher adoption of mobile devices has enabled various retail stores to go online and continuously engage in rigorous marketing strategies to attract customers.
Technavio’s analysts forecast the global m-commerce market to grow at a CAGR of 27.48% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global m-commerce market for 2016-2020. To calculate the market size, the report considers the revenue generated from m-commerce done through tablets and smartphones.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global M-Commerce Market 2016-2020
Technavio recognizes the following companies as the key players in the global m-commerce market: Alibaba, Amazon, Apple, eBay, Google, and PayPal.
Other Prominent Vendors in the market are: ASOS, Barnes & Noble, Best Buy, Costco, GameStop, Groupon, J. C. Penney, Kohl's, Liberty Interactive, LL Bean, Lowe’s, Macy's Newegg, MasterCard, Sears Holdings, Softcard, Staples, Target, The Home Depot, Visa, and Walmart.
Commenting on the report, an analyst from Technavio’s team said: “The launch of m-commerce apps for wearable devices will be a game changing trend for the global m-commerce market. For instance, Apple Watch is likely to come out with m-commerce apps for major vendors like eBay, Target, and Fandango. This will not only increase the adoption of wearable devices but also m-commerce activities on wearables. The mobile app for Target stores, for instance, merges the offline and online experiences. The embedded sensors will notify the individual about the items on their shopping list when they enter a Target store, giving the buyers a seamless shopping experience.”
According to the report, growing adoption of mobile wallets will be a key driver for market growth. Mobile wallet refers to payments made through mobile devices instead of credit or debit cards, or any other cashless payment method. It stores the customers' credit cards details and enables the user to pay at NFC POS terminals via smartphones. Transactions through mobile wallets need high-speed internet and interoperability between service providers and issuers. NFC-enabled mobile wallets and mode of payments are gaining popularity as it is convenient and saves lot of time. Thus, the growing awareness of mobile wallet and convenience is likely to support the growth of the m-commerce market globally.
Further, the report states that intense competition from alternative mediums, where competitors hold a larger share than the online medium, is a major challenge for vendors in the global m-commerce market. In addition, substitute services like retail shops attract even passer-by customers, who have no intention to shop. Retail stores often have good marketing strategies that help them increase the number of prospective buyers. Therefore, the presence of direct substitute to m-commerce may pose a serious threat to the growth of the market during the forecast period.
Alibaba, Amazon, Apple, eBay, Google, PayPal, ASOS, Barnes & Noble, Best Buy, Costco, GameStop, Groupon, J. C. Penney, Kohl's, Liberty Interactive, LL Bean, Lowe’s, Macy's Newegg, MasterCard, Sears Holdings, Softcard, Staples, Target, The Home Depot, Visa, Walmart.