Mobile Commerce Market - By Payment mode (Near Field Communication (NFC), Premium SMS, Wireless Application Protocol (WAP)), By Type of User (Smart Device Users, Feature Phone Users), By Transaction Type (M-Retailing, M-Ticketing, M-Billing), Forecast, 20

Mobile Commerce Market - By Payment mode (Near Field Communication (NFC), Premium SMS, Wireless Application Protocol (WAP)), By Type of User (Smart Device Users, Feature Phone Users), By Transaction Type (M-Retailing, M-Ticketing, M-Billing), Forecast, 2023 - 2032

The global mobile commerce (m-commerce) market is expected to witness robust growth at over 25% through 2032, propelled by the increasing adoption of smartphones, evolving consumer preferences, and the convergence of technology in the retail sector.

A report by ITC and Telecom in 2023 anticipates that by the year 2030, smartphone adoption is set to reach 87%. With smartphones becoming ubiquitous, consumers now have instant access to a wide array of products and services at their fingertips. The convenience and flexibility offered by m-commerce platforms have transformed the way people shop, shifting the focus from traditional brick-and-mortar stores to virtual storefronts.

The overall mobile commerce (m-commerce) market is classified based on payment mode, user type, transaction type and region.

The M-Ticketing segment is expected to witness tremendous growth during 2032-2032. The integration of mobile ticketing solutions across various industries, including transportation, entertainment, and events has revolutionized the way consumers access and manage tickets. This transaction not only offers convenience and paperless mode but also enhances the overall efficiency of ticketing processes.

The Wireless Application Protocol (WAP) segment is poised to register swift growth during the study period as it facilitates mobile access to the internet, enabling users to interact with websites and online platforms seamlessly. This technology ensures that m-commerce experiences are optimized for mobile devices, providing a user-friendly interface and efficient navigation.

Asia Pacific mobile commerce (m-commerce) market is anticipated to register significant growth through 2032. The region showcases a thriving ecosystem of digital innovation, with countries like China, India, and Southeast Asian nations leading the way. The high penetration of smartphones, coupled with robust internet infrastructure, has fuelled the rapid adoption of m-commerce in Asia Pacific. Consumers in the region are increasingly turning to mobile platforms for shopping, payments, and other transactions, making it a focal point for m-commerce growth.