Mobile Commerce Market to exceed $4.6 Tn by 2032, Says Global Market Insights Inc.

Selbyville, Delaware, April 23, 2024 (GLOBE NEWSWIRE) —

The mobile commerce market  valuation is estimated to reach USD 4.6 trillion by 2032, as reported in a research study by Global Market In sights Inc.

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The widespread adoption of smartphones and tablets globally for empowering consumers with convenient access to the internet and digital payment methods will favor the industry growth. According to reports, by the end of 2024, the global smartphone user count is estimated to hit 7.1 billion, with 6.84 billion smartphones currently in use worldwide. With the increasing penetration of mobile devices, consumers are largely inclined towards conducting transactions on-the-go, like purchasing goods, services, or digital content.

The seamless integration of mobile commerce into various industries, including retail, banking, and entertainment is also significantly rising. Businesses are capitalizing on the opportunity to offer personalized and frictionless shopping experiences through mobile apps and optimized websites. The rise of mobile wallets, secure payment technologies, and innovative mobile marketing strategies will further catalyze the market growth.

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Mobile commerce market from the wireless application protocol (WAP) payment mode segment is likely to accelerate at a robust pace between 2024 and 2032. The increasing penetration of smartphones and other mobile devices equipped with internet connectivity has expanded the user base for WAP-enabled services. The onset of technological evolution has led to improvements in speed, security, and compatibility, making it an attractive option for businesses looking to engage mobile consumers. With WAP, users can conveniently browse, shop, and make transactions using their mobile devices, regardless of their location.

Based on billing type, the mobile commerce market from the M-billing segment is expected to witness lucrative expansion from 2024 to 2032. The proliferation of mobile devices has empowered consumers to conduct transactions conveniently on their smartphones and tablets. The simplicity and accessibility of M-Billing systems also appeals to both merchants and consumers for facilitating seamless transactions across various industries, such as retail, transportation, and entertainment.

Asia Pacific mobile commerce market is estimated to attain substantial valuation by 2032, attributed to the rapid expansion of internet access and smartphone adoption. Cultural preferences, such as the strong affinity for mobile messaging and social media platforms is contributing to the increasing reliance on mobile commerce for shopping and transactions. Government initiatives and regulatory reforms aimed at promoting digital infrastructure and financial inclusion are also bolstering the regional industry demand.

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Some of the prominent mobile commerce market players include Amazon.com Inc., Visa Inc., eBay Inc., PayPal Holdings Inc., Mastercard Inc., Gemalto (Thales Group), Kony Mobility Platform, GPShopper and International Business Machines (IBM) Corporation. These firms are working on technological developments, collaborations, acquisitions, and mergers to widen their product portfolio. For instance, in January 2024, PayPal Holdings, Inc. introduced six new innovations for transforming commerce using AI for personalized experiences for both sellers and buyers.

Partial chapters of report table of contents (TOC):

Chapter 1   Methodology & Scope
1.1    Market scope & definition
1.2    Base estimates & calculations
1.3    Forecast calculation
1.4    Data sources
1.4.1    Primary
1.4.2    Secondary
1.4.2.1   Paid sources
1.4.2.2   Public sources
Chapter 2   Executive Summary
2.1    Mobile commerce market 3600 synopsis, 2018 – 2032
2.2    Business trends
2.2.1    Total Addressable Market (TAM), 2024-2032
2.3    Regional trends
2.4    Payment mode trends
2.5    Type of user trends
2.6    Transaction type trends
Chapter 3   Mobile Commerce Industry Insights
3.1    Impact of COVID-19
3.2    Impact of the Russia-Ukraine war
3.3    Industry ecosystem analysis
3.4    Vendor matrix
3.5    Profit margin analysis
3.6    Technology & innovation landscape
3.7    Patent analysis
3.8    Key news and initiatives
3.8.1    Partnership/Collaboration
3.8.2    Merger/Acquisition
3.8.3    Investment
3.8.4    Payment mode launch & innovation
3.9    Regulatory landscape
3.10    Impact forces
3.10.1    Growth drivers
3.10.1.1    Proliferation of high-speed mobile internet
3.10.1.2    Rising development of secure and convenient mobile payment technologies
3.10.1.3    Extensive adoption of smartphones
3.10.1.4    Rising popularity of mobile wallets
3.10.2    Industry pitfalls & challenges
3.10.2.1    Data breaches and privacy issues
3.10.2.2    Payment gateway issues
3.11    Growth potential analysis
3.12    Porter’s analysis
3.13    PESTEL analysis
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About Global Market Insights Inc.

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.


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