Global Mobile Commerce Market Report 2021

The “Mobile Commerce Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026” report has been added to ResearchAndMarkets.com’s offering.

The global mobile commerce market reached a value of US$ 628 Billion in 2020. Looking forward, the market to grow at a CAGR of around 34% during 2021-2026.

Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

Mobile commerce, or m-commerce, is a subset of e-commerce that refers to the use of wireless handheld devices for conducting commercial transactions online. It comprises mobile banking, in-app purchases, virtual marketplace apps, such as the Amazon mobile app, and digital wallets like Google Pay, Apple Pay, and Samsung Pay.

It utilizes wireless devices, like cellphones, smartphones, smartwatches, and tablets, to authorize, initiate, and confirm the exchange of money. This is facilitated by the availability of point-of-sale (POS) terminals that process transactions using nearfield communications or the internet.

The increasing usage of wireless handheld devices that offer enhanced security, convenience and easy access to the internet has encouraged tech-savvy consumers to make mobile-based payments through digital wallets and online payment gateways. These methods enable buyers to make contactless payments, thereby eliminating card swiping and manual entry, which helps in reducing human error and facilitating a smoother checkout experience.

This trend has further been facilitated by the introduction of multiple safety features in mobile and wearable devices, including biometrics authentication such as fingerprint and facial recognition, which have made mobile payments more secure. Moreover, many service providers are collaborating with mobile operators to offer advanced payment solutions.

Along with this, governments of various countries are undertaking initiatives to promote digital payment methods, which is providing a positive impact on market growth. Furthermore, the rising trend of bring-your-own-device (BYOD) and growing broadband connectivity are among the other factors stimulating the growth of the industry.

Key Questions Answered in This Report:

How has the global mobile commerce market performed so far and how will it perform in the coming years?
What are the key regional markets?
What has been the impact of COVID-19 on the global mobile commerce market?
What is the breakup of the market based on the transaction type?
What is the breakup of the market based on the payment mode?
What is the breakup of the market based on the type of user?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global mobile commerce market and who are the key players?
What is the degree of competition in the industry?

Competitive Landscape:

The competitive landscape of the industry has also been examined with some of the key players being