Mobile Commerce Market: Overview
The mobile commerce market may ring the bell of rapid growth across the forecast period of 2019-2028 due to the rise in the demand for mobile commerce platforms. The COVID-19 outbreak may change the way of commerce industry to a great extent. Many retailers are shifting to e-retail as the customers prefer online shopping instead of offline shopping to avoid the threat of COVID-19. Mobile devices add up as the most popular devices for online shopping.
Over 2.5 billion individuals across the world use smartphones and the user base expect to expand to 3.8 billion by 2021. This factor highlights the potential of the mobile commerce market to expand gradually across the forecast period. Even if there is a staggering relaxation of lockdown rules in some parts of the country, the user behavior trends show that mobile commerce is gaining considerable momentum and may continue its streak.
This upcoming report on the mobile commerce market provides an in-depth analysis of the current market situation. The report covers components like competitive landscape, key players, regional analysis, and ongoing trends. The report also offers thorough research on how the COVID-19 pandemic will impact the mobile commerce market. The segmental study enables an individual to thoroughly understand the mobile commerce market.
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Mobile Commerce Market: Competitive Analysis and Key Developments
The mobile commerce market is fragmented with a plethora of competitors trying to gain an upper edge among others with improved shopping experience by constant app-upgrades and technical enhancements. Many investors are pumping a good amount of investments in the mobile commerce market seeing the profit-making capacity.
- Button, a leading mobile commerce platform partnered with AppsFlyer to offer visibility of brands into quality app traffic optimized by Button in their AppsFlyer dashboards.
- Recently, Tapcart, a mobile commerce company received funding of $10M Series A Funding by SignalFire. This development sheds light on the growing interest of investors in the mobile commerce market.
- Facebook recently launched Facebook Shops, a free platform for small shops and businesses to bring their business online and connect with prospective customers. It has also connected Instagram to the platform for improving the customer base of various businesses.
- Samsung launched a new EAL 6+ certified chip and software for securing mobile devices and protecting confidential data such as information related to stock trading, mobile banking, and cryptocurrency transactions.
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Mobile Commerce Market: Key Trends
The mobile commerce market is seeing a tectonic shift in its usage with the advent of a number of trends. The trend of connecting social media with commerce has benefitted the mobile commerce market to a great extent. The global COVID-19 pandemic has increased the use of mobile payments greatly. This will continue across the forecast period. The addition of augmented reality technology to mobile commerce is projected to revolutionize the mobile commerce experience. Other enhancements such as voice search and control, chat bots, image recognition, etc can influence the mobile commerce market positively. The inculcation of cryptocurrency-enabled payment option for mobile commerce is also garnering steam across the mobile commerce market.
Mobile Commerce Market: Regional Analysis
North America is expecting a dominant streak in terms of growth throughout the forecast period due to the rising adoption of M-commerce across the United States. The U.S. has the most number of coronavirus cases. This has prompted the citizens to stay at home for a brief period. Thus, this factor can propel the growth rate of the mobile commerce market. The growing internet penetration in countries like India and China may make Asia Pacific one of the fastest-growing regions during the forecast period.
M-commerce, or mobile commerce, refers to the purchase and/or sale of goods and services via mobile platforms such as smartphones and tablets. The increasing adoption of mobile commerce across the globe, especially in the West, has turned out to be immensely helpful towards strengthening the market. Developed countries such as those in North America have been significantly proactive in making m-commerce a vital part of day-to-day commercial transactions.
Broadly segmenting the mobile commerce market on the basis of transactions, three key categories may be formed: mobile payments, which include contactless near-field communication (NFC), digital and physical goods, and mobile money person to person (P2P) transfer; mobile ticketing and mobile coupons; and mobile banking.
The mobile commerce market is largely driven by ongoing trends and the research report observes and predicts these, presenting a detailed evaluation of the same. Besides these, the report also highlights the various challenges that the mobile commerce market has encountered so far and will face over the course of the report’s forecast period.
Companies mentioned in the research report
Judging from the rapid adoption of m-commerce across the globe, it is only natural that the rivalry within the industry should be strong. The presence of a plethora of prominent vendors supports the growth of the mobile commerce market and the contribution of domestic players cannot be ignored as well. Some of the key vendors operating in this space are Best Buy, MasterCard Inc., Google Inc., Netflix Inc., Visa Inc., Groupon, eBay Inc., Bank of America Corp., BlackBerry Ltd., GameStop, PayPal Inc., Apple Inc., Costco Wholesale Corp., Microsoft Corp., Target Corp., Alibaba Group Holding Ltd., and Amazon.com Inc.
Studying in depth the competitive landscape of the global mobile commerce market, the report focuses on key aspects of these players such as company profile and overview, financial holding, business strategy, product portfolio, mergers and acquisitions, and recent developments.
Major geographies analyzed under this research report are:
- North America
- Rest of the World
This report gives you access to decisive data such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.