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This market research report identifies players like Alibaba, Amazon, Apple, eBay, Google, and PayPal to be the key vendors in the global m-commerce market. This research report also presents a detailed segmentation of the market by platforms (smartphones and tablets) and by geography (the Americas, APAC, and EMEA).
Technavio’s market research analyst predicts that the global m-commerce market will grow at a CAGR of more than 27% by 2020. M-commerce is gaining wide acceptance across the globe owing to the several advantages it offers such as offering multiple payment options to consumers, streamlining the procurement processes, and proving better price choices due to stiff market competition. One of the latest development in the m-commerce market is the growing adoption of the mobile wallet. Mobile wallet refers to transactions made through mobile devices rather than credit or debit cards, or any other cashless payment method. It stores the customer’s credit cards detail and allows the user to pay at NFC POS terminals through smartphones. Such NFC-enabled mobile wallets and mode of payments are gaining popularity because it is convenient and saves lot of time.
The high growth of m-commerce is propelling vendors and retailers to make huge investments in mobile advertising and the promotion of their brands. Mobile devices like smartphones and tablets are offering more personalized services like location-based marketing and promotional services to consumers. Also, these devices increase the reach and influence of mobile advertising. The market is also witnessing the shift from mobile web to mobile apps that provide vendors more opportunities to target end users with customized offers. Mobile apps allow users to save the selected items that have to be purchased later. These apps also notify users about the latest offers, discounts, sales, and loyalty programs through push messages, even when they are closed.
This market is highly competitive because of the presence of many large established players who compete on the basis of product portfolio, pricing, delivery and payment options, policies, varieties, offers, and brands. Vendors are making huge investments in planning, designing, developing, acquiring new players, and extending their existing facilities. Competition in the market is expected to intensify during the forecast period with the growing need to deliver advanced technology and latest strategic solutions.
Leading vendors in the market are -
Other prominent vendors in the m-commerce market include ASOS.com, Barnes & Noble, Best Buy, Costco, GameStop, Groupon, J. C. Penney, Kohl's, Liberty Interactive, LL Bean, Lowe’s, Macy's, Newegg, MasterCard, Sears Holdings, Softcard, Staples, Target, The Home Depot, Visa, and Walmart.
During 2015, tablets accounted for more than 68% of the market and will continue its dominance during the forecast period. The bigger display size of the device and its declining prices will play a significant role in its increased adoption over smartphones during the forecast period. The segment is likely to experience significant growth mainly due to the growing sales of tablets and the introduction of Apple Pay services. The tablets segment is anticipated to register a CAGR of more than 29% by 2020.
The Americas will continue its dominance in the m-commerce market during the forecast period and is likely to occupy around 40% of the total market revenue. Much of the region’s growth is due to the presence of online retailers such as Amazon, eBay, and Walmart, improving disposable income, and strong broadband connectivity. Factors such as rapid growth of NFC services and increased adoption of smartphones and contactless payment systems will drive the market in the region during the predicted period.
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
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This report is available in English.
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