Mobile Commerce Market Analysis

Mobile Commerce Market Analysis

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Based on transaction type, the market is divided into m-retailing, m-ticketing, m-billing, and others. The m-retailing segment held a dominant share in the market in 2023. The emphasis on enhancing the shopping experience is a key factor driving segment growth. User-friendly mobile apps, personalized product recommendations, seamless checkouts, and convenient payment options contribute to customer satisfaction. For instance, in December 2022, Walmart launched Text to Shop, a mobile app aimed at enhancing customer shopping experiences. Through this app, customers can create shopping lists for in-store visits or shop online for products available on Walmart Pickup & Delivery. They can conveniently schedule the collection of their items at the nearest Walmart Supercenter.

Based on payment mode, the Near Field Communication (NFC) segment held over 38% of the mobile commerce market share in 2023 and is projected to grow by 2032. NFC technology is thriving due to its unparalleled convenience and safety. NFC enables swift, contactless transactions by simply tapping devices, fostering a seamless payment experience.

Moreover, as hygiene and safety became of utmost importance during the pandemic, NFC-enabled touchless payments gained significant traction, becoming a preferred choice. The acceptance of NFC-enabled payment terminals in retail spaces and their integration into popular mobile wallets, such as Apple Pay & Google Pay, have further bolstered its adoption. This has made NFC a cornerstone technology for modern, secure, and convenient mobile payments.

North America mobile commerce market accounted for 37% of the revenue share in 2023. The emerging educational STEM toy startups are driving regional market growth. In North America, the market is thriving due to its advanced digital infrastructure and the strong consumer preference for convenience. With a well-developed internet backbone, users experience seamless mobile transactions, fostering widespread adoption. Additionally, the population's high reliance on smartphones and the growing trend of online shopping have created a natural synergy with mobile commerce. This convenience-driven culture, coupled with a tech-savvy population, is fueling market growth, making mobile commerce a pivotal aspect of the modern retail landscape in North America.