Mobile commerce is one of the hottest sectors right now and it is gaining importance for a wide range of industries, including telecommunications, IT, finance, retail and the media, as well as for end-users. It works best in those areas where it can emphasise the core virtue of mobile networks – convenience. The enormous success of smart phones is linked to the Apps which are available and increasingly commercial models will be linked to these apps - which will result in further spectacular growth in m-commerce. Please note, a separate report is available on the global e-commerce sector and is titled: Digital Economy – E-Commerce Insights.
In late February 2012 Facebook announced it had partnered with a number of mobile operators in order to provide streamlined billing practices; BuddeComm sees the development of m-wallets as a major breakthrough for the m-payment sector and beyond, and could indeed be a game changer; In 2012 the term SoLoMo is being much discussed when referring to developments in the m-commerce sector.