M-Commerce Market Size worth USD 2.60 Trillion by 2034 | CAGR: 6.3%

The global m-commerce market size is expected to reach USD 2.60 trillion by 2034 according to a new study by Polaris Market Research. The report “M-commerce Market Share, Size, Trends, Industry Analysis Report, By Payment Modes (Near-field Communication (NFC), Premium SMS, Wireless Application Protocol (WAP)); By Transactions; By End Use; By Region; Segment Forecast, 2025 - 2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Key factors, such as the increasing demand for mobile payment methods such as Apple Pay, PayPal One-Tap, Visa Checkout, and Amazon Pay, as well as the rapid digitization, will drive industry demand for mobile commerce throughout the projection period. The rising digitization has facilitated the emergence of new payment methods, including digital wallets and instant, real-time payment systems. These new payment systems have a significant adoption rate in developing economies such as India and China. Google Pay, Amazon Pay, and Apple Pay are some of the most popular digital wallets. In India, the UPI (Unified Payments Interface), an online payment interface, has witnessed massive adoption nationwide.

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UPI is an immediate real-time payment system designed by India's National Payments Corporation to allow inter-bank transactions to be completed using a smartphone. Various e-commerce service providers, including Amazon and IndiaMART, consider UPI payments. In fact, in India, Amazon Pay has a dedicated UPI option for payment. The growing adoption of UPI across India is a major factor driving the rapid adoption of digital platforms by e-commerce companies, which in turn is positively impacting the m-commerce industry.
Additionally, China is another major growing economy with a very high adoption rate of digital payments. The introduction of new payment methods by popular Chinese applications, including WeChat and Alipay, is a major contributor to the country's rising adoption of mobile banking. Furthermore, most transactions on Alibaba are conducted through its in-house Alipay payment system. These factors are driving the growth of the m-commerce industry.
Based on the transaction, the m-ticketing/booking segment is expected to account for a substantial share during the forecast period. According to "Mobile Commerce Strategies," one of the primary elements fueling the expansion of mobile commerce will be the rapidly growing use of mobile devices for purchasing tickets for all types of travel, entertainment, and athletic events. The transportation industry is leading the way, with rail and metro companies, as well as airlines, offering SMS, barcode, and app-based services.

Market players such as Mastercard Inc., Boku Inc., Gemalto, IBM Corp., SAP AG, Oxygen8 Solutions, Inc., Google Inc., Ericsson, and Visa Inc., among various others, are some key players operating in the global market.

Polaris Market Research has segmented the M-Commerce market report based on transactions, payment modes, end use, and region:

M-Commerce, Transactions Outlook (Revenue - USD Trillion, 2020 - 2034)

• M Retailing
• M ticketing/booking
• M billing
• Others

M-Commerce, Payment Modes Outlook (Revenue - USD Trillion, 2020 - 2034)

• Near-field Communication (NFC)
• Premium SMS
• Wireless Application Protocol (WAP)
• Direct Carrier Billing
• Others

M-Commerce, End Use Outlook (Revenue - USD Trillion, 2020 - 2034)

• Smart device users
• Feature phone users

M-Commerce, Regional Outlook (Revenue - USD Trillion, 2020 - 2034)

• North America
  • U.S.
  • Canada
• Europe
  • France
  • Germany
  • UK
  • Italy
  • Spain
  • Netherlands
  • Austria
• Asia Pacific
  • China
  • India
  • Japan
  • Malaysia
  • South Korea
  • Indonesia
• Latin America
  • Mexico
  • Brazil
  • Argentina
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa