Global M-Commerce Market - Global Opportunity and Forecast, 2017-2023
The advancement in mobile technology and increased smartphone penetration have led to significant growth in the global mobile commerce market. Further, with the increase in disposable income, growth in internet penetration, and affordable smartphones, especially in the emerging economies, the consumer base of M-Commerce has widened to a great extent. Purchase and/or sale of goods and services via mobile platforms has increased the businesses globally, creating technologies and applications for mobile users to increase productivity and profitability. The buying behavior of consumers has changed as they resort to impulse purchase through mobile and online platforms. Global businesses try to leverage this as an opportunity to expand their customer base through brand loyalty by increasing the awareness of M-Commerce through cashback/discount offers on mobile wallets and credit/debit cards. High competition is witnessed in this market due to the presence of established global players through heavy investments and intensive promotional activities. The M-Commerce market is expected to grow at a significant rate and is expected to continue to evolve in the near future.
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