Mobile Commerce Market Market Growth and Forecast to 2026

Mobile Commerce Market Market Overview The Mobile Commerce (M-Commerce) Market is expected to grow from USD 628 billion in 2020 to USD 3,901 billion by 2026 at a CAGR of 34.9% from 2020 to 2026.

Mobile commerce (m-commerce) is a type of e-commerce where buying and selling of goods and services are conducted via wireless handheld mobile devices. This consists of mobile phones, smartwatches, smartphones, tablets and net books.

Mobile commerce enables users to access online shopping platforms without the requirement of using a desktop computer.

Examples of mobile commerce are mobile banking, in-app purchasing, virtual marketplace apps such as the Amazon mobile app or digital wallets which include Apple pay, Google pay, Android pay and Samsung pay. The demand for Mobile Commerce is projected to be propelled by an increase in the demand for smartphones. Smartphones are highly becoming a predominant part of everyday life. The numbers of users are nearly 3 billion and it is anticipated that this number will further move upwards. The majority of demand is observed in China, India, and the US. Each smartphone holder is a potential m-commerce consumer therefore in the forecast period there is huge demand for m-commerce.

Another key factor propelling the mobile commerce (M-commerce) market is the high investments by the corporate in the m-commerce platform owing to the benefits it provides. Mobile commerce improves customer retention rate through several loyalty programs. It is easy for consumers to make an informed decision. It enables to compare prices, see product reviews, and based on it make a purchasing decision. Investments by retailers to enhance user experience such as providing the experience of virtual stores by using the evolving technology of VR/AR has become a successful strategy to lock in customers and improve customer loyalty.

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