by Emma Dallas | September 26, 2018 9:09 am
Mobile commerce or m-commerce is not a brand new trend anymore. Some people consider that its era is over and this exhausted market will not offer anything new. I belong to the majority, that doesn’t share this myopic view, and this article will contain the bedrock arguments.
M-Commerce is purchasing and selling products online, using wireless portable devices such as smartphones or tablets. Users do not have to plug in to access the Internet. Statistics show that the M-commerce revenue constitutes $150 million this year. And this is via smartphones only. The numbers are growing and are expected to reach $350 billion in 2021.
They are often confused, but there are distinct differences between these concepts. M-commerce came from E-commerce together with increasing progress in technologies. E-commerce is any kind of business that makes transactions on the Internet. Mobile commerce gives the possibility to sell and purchase using mobile devices.
The statistics prove that mobile commerce makes nearly one-third of the total e-commerce revenue, and the percentage is increasing.
Presently we can define three constituents that make the mobile commerce: Mobile Shopping, Mobile Banking, Mobile Payments.
Mobile Shopping is buying/selling goods with the help of portable devices. It can be done through websites, applications, and media platforms.
Mobile Banking is the process of transacting money using your smartphone. Usually, special applications are needed, but today banks begin to use chatbots and message applications.
Mobile Payments allow users to settle the bill in one click using mobile wallets. Most popular payment technologies are Apple Pay, Amazon Pay, Visa Checkout, PayPal One-Touch.
Mobile shopping, banking, and payments became popular over the few last decades, and the number of people using this technology is constantly increasing. This is the driving force that builds up the revenue. According to Statista, the world m-commerce revenue grew from $50 billion in 2014 to $459 billion in 2018.
Where there’s demand, there’ll be supply. A mobile device becomes a multi-functional tool present in all spheres of human life. Its functions go far beyond making calls or watching videos. The future m-commerce trends will continue to surprise even advanced users.
Each time it is a client who decides through his/her choice what is in trend, what is user-friendly and what innovations will not stay too long. Development of the mobile commerce market, its popular technologies, and growing revenue demonstrate that the nearest future will be full of trends able to fit in your smartphone.
Source URL: http://blog.qatestlab.com/2018/09/26/m-commerce-market/
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