MOBILE COMMERCE SOLUTION MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Mobile Commerce Solution Market, By Payment Mode (Near Field Communication (NFC), Premium SMS, Wireless Application Protocol (WAP), and Direct Carrier Billing), By Transaction Type (M-Retailing, M-Ticketing/Booking, M-Billing, and Others), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa)

Published In : Jul 2024
Code : CMI7212
Pages :173
Formats :
Excel and PDF
Industry : Information and Communication Technology

Market Concentration and Competitive Landscape

Mobile Commerce Solution Market Concentration by players

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Increasing digital payments adoption

Digital and contactless payment systems have proliferated rapidly in tandem with the smartphone and internet revolution. Various payment options from digital wallets and peer-to-peer transfer apps to NFC-enabled card payments have emerged as convenient alternatives to cash. The ongoing coronavirus pandemic has further accelerated the migration from cash to digital payments due to hygiene concerns. Consumers have realized the ease, security, and other benefits of making digital payments for both in-store as well as online transactions using their smartphones. Digital payment gateways have also made the online checkout experience seamless by auto-filling billing details and enabling one-click payments. This has removed a potential barrier for m-commerce growth. Additionally, businesses are integrating digital payment acceptance capabilities to provide a superior Omni channel shopping experience and attract more customers. As digital payments become increasingly mainstream in everyday life, more and more purchase occasions will shift to mobile commerce platforms going forward. Overall, the rising adoption of digital money should act as a significant driver of the global mobile commerce solutions demand.

Key Players Insights