Some recent updates on m-commerce statistics show that the m-commerce, also known as mobile commerce, industry is growing at a tremendous pace and it is indeed a big industry now. Isn’t it a great news? Today, m-commerce holds a small share of the total ecommerce market but this share is increasing too fast.
However, it is surprising to learn that the websites, in-store and apps of many retail companies out there are too basic for mobile commerce. And this has landed many other companies out there with a great opportunity to leverage their market share by simplifying m-commerce.
M-commerce – What is it all about?
As such there is no one standard definition for m-commerce, but an expert of the niche defines it in the simplest manner – it is the buying and selling of goods and services through mobile devices. If we consider the broader aspect of m-commerce, it includes every type of transaction done through a mobile device such as mobile banking; however, some mobile app developers strictly believe that such mobile transaction should be categorized separately.
Let’s dive into some interesting facts about m-commerce.
• m-commerce industry of Asia, USA and Europe is anticipated to cross the milestone of $500 billion sales by end of 2017
• m-commerce transaction will surpass $3.2 trillion by 2017, from $1.5 trillion of last year 2013
• the industry experts claim that m-commerce market will reach to US $800 billion in 2016
• As revealed in a July 2013 report of Gartner, the mobile commerce industry is set to have over 450 million users in the world by 2017.
Digging up further
Simply put, if it is about online business revenues, m-commerce is making a whole lot out of it. And according the top-notch experts of the niche, this is how the scenario will be for the upcoming years as well. As reported by a consultancy firm, m-commerce market was of $133 billion last year in 2013; and this is almost more than double the $22 billion from consumer apps, $26 billion from enterprise mobility, $12 billion from mobile ads and $3 billion from wearables, if counted together.
Today, consumers are spending much more time on mobile devices than on desktops and notebooks. And this speaks in volume for the bright future of mobile commerce industry worldwide. If you look around many big retailers like eBay and Amazon have already launched their mobile commerce apps.
Find a professional mobile app development company in India
Hire the best mobile app developers in India to work upon your m-commerce project. Remember, ecommerce isn’t same as m-commerce. And thus make sure the mobile app development company you hire in India has sound experience and expertise in m-commerce apps.
So, what is stopping you now? Partner with the right mobile app developers’ company and tap your business from the fastest growing mobile commerce industry.