M-Commerce Market Size, Share, Growth, And Industry Analysis By Type (M Billing, M Retailing, M Ticketing/Booking, Others, And M-Commerce) By Application (Retail, IT and Telecommunication, Hospitality and Tourism, BFSI, Healthcare, Media and Entertainment, Airline, And Others), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

M-Commerce Market Report Overview

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The global m-commerce market size was USD 2772250 million in 2022 and is projected to touch USD 11672968 million by 2031, at a CAGR of 17.3% from 2022 to 2031. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over. 

M-commerce is the term used to describe the buying and selling of various items using an application on smartphones, tablets, or other similar hand-held devices. These mobile commerce applications come with tools that make it easier for you to select the finest things, buy them, pay for them, and track your transaction from the time you place it until the time it is delivered. Mobile banking and mobile payments are also included in the market for m-commerce even though e-commerce sites are the most common type. Push notifications and chatbots are also included for the convenience of customers in resolving a variety of difficulties.

The global increase in smartphone usage and the rise in per capita disposable income are primarily responsible for the m-commerce sector’s expansion. The success of the m-commerce business globally is being driven by the platforms of m-ability commerce to offer more options for a product and thorough information on the same. High-speed internet is also easily accessible, which has been progressively expanding the market. The market is being greatly elevated by the numerous deals and discounts that the m-commerce platforms are providing.

COVID-19 Impact: Halt In Regular Operations Impeded Market Value

Markets that were active around the globe prior to the unexpected COVID-19 breakout ran the risk of collapsing during the pandemic. Due to the implementation of lockdown regulations by the various governments of the countries afflicted by the same COVID-19 virus, a wide range of markets around the world experienced the negative impacts of the highly contagious during the initial phase of the outbreak. The pause in the delivery of the goods that customers had ordered through mobile applications also had an impact on the expansion of the mobile commerce market during the pandemic. The retail sector generated a significant portion of earnings; however, other m-commerce applications, including mobile payment, continued to operate. As a direct result of delivery services ceasing operations, the m-commerce business suffered.

Latest Trends

"The Addition Of NFC Payments Facilitates Product Growth"

Near field communications or NFC, payments have greatly advanced the m-commerce market. NFC and wireless payments enable significantly speedier payments without the inconvenience of standing in checkout lines. These transactions are far more secure, making it difficult for hackers to obtain your information. The problem of remembering and entering your PIN for any transaction is also eliminated thanks to the penetration of wireless and NFC payment in the e-commerce sector, which has fueled the market's success.

M-Commerce Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into m billing, m retailing, m ticketing/booking, others, and m-commerce. M billing segment will rise exponentially during the forecast years in the market by type.

• By Application Analysis

Based on application, the market can be divided into Retail, IT and Telecommunication, Hospitality and Tourism, BFSI, Healthcare, Media and Entertainment, Airline, And Others. The segment of retail is predicted to lead the market by application during the forecast period.

Driving Factors

"Integration Of Augmented Reality Proliferates Market Expansion"

The m-commerce business has advanced significantly with the adoption of NFC, or near-field communications, payments. Without the stress of standing in long checkout lines, NFC and wireless payments offer significantly speedier payments. These transactions are significantly safer and harder for hackers to access in order to steal your information. The market success is attributable to the elimination of the need to remember and enter your PIN during any transaction due to the penetration of wireless and NFC payment in the m-commerce sector.

"Rise Of Smartphones Drives Product Value"

Smartphones and their widespread use are one of the main drivers of the global m-commerce market growth. Due to the widespread use of smartphones, a wide range of websites has modified themselves to fit into mobile applications, which has increased the m-commerce sector. Additionally, due to the use of high-speed internet is now a need in our lives, mobile banking has become the norm, and the use of mobile payment has simplified life while making purchases. The majority of people in the world now prefer using their smartphones to pay for their purchases, whether they are made online or offline. 

Restraining Factors

"Security Concerns Hampers Market Progress"

The m-commerce business is expanding rapidly, however, the urban world continues to be concerned about the security of online payments. Many people still hesitate over any online transaction due to the possibility of hackers attempting to steal information, even if the rise of smartphones has made them safer and more effective. Due to the networks of smartphones being more susceptible to becoming the target of harmful and fraudulent operations, this is also a very serious issue. Since the transition of brands to mobile applications is also expensive and the cost of developing and maintaining applications is far more than that of e-commerce websites. These elements are impeding the development of the mobile commerce market.

M-Commerce Market Regional Insights

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"Due To The Prevalence Of Providers, North America Pioneers "

As a direct result of the availability of B2B and B2C e-commerce providers who support the enormous expansion of the regional industry, the North American region leads the m-commerce market shares. The North American region is also at the top since it was one of the first to adopt new technology and is a top choice for information and technology-related research and development activities.

Due to the region's rising demand for automobiles and automotive components from other regions, which is also causing a rise in online transactions, the European region has the second-highest market share for mobile commerce. These elements are essentially driving the market success of the area to a high level.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Amazon (U.S.)
• Ericsson (Sweden)
• Flipkart (India)
• Gemalto (Netherlands)
• Google (U.S.)
• IBM (U.S.)
• Irctc (India)
• Mastercard (U.S.)
• Mopay (U.S.)
• Oxygen8 (United Kingdom)
• Paypal (U.S.)
• Paytm (India)
• Sap (Germany)
• Shop Clues (India)
• Visa (U.S.)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors such as segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.