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Mobile Commerce Market Trends

Report ID: GMI6869
Published Date: Jul 2024
Report Format: PDF

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Mobile Commerce Market Trends

Technological advancements are driving the mobile commerce market forward. Innovations, such as 5G connectivity, Augmented Reality (AR), and Artificial Intelligence (AI), are enhancing user experiences. Faster internet speeds enable seamless transactions, while AR provides immersive product visualization.

For instance, in July 2022, Walmart, a retail corporation headquartered in the U.S., enhanced the AR capabilities of its consumer app by introducing new features. App users can now access an extended range of over 7,000 AR-enabled home products, spanning categories such as indoor/outdoor furniture, electronics, lighting, and more, thus providing immersive viewing experiences directly through the app. Such advancements are collectively propelling the industry growth by creating convenient, secure & engaging shopping environments.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of mobile commerce reached USD 611.6 billion in 2023 and is set to witness 25.5% CAGR from 2024 to 2032, backed by the proliferation of high-speed mobile internet including 4G and 5G networks.

The m-retailing segment is slated to grow notable through 2032, owing to the emphasis on enhancing the shopping experience through user-friendly mobile apps, personalized product recommendations, seamless checkouts, and convenient payment options.

North America market held around 37% revenue share in 2023, favored by the emerging educational STEM toy startups, along with the region

Amazon.com Inc., eBay Inc., Gemalto (Thales Group), GPShopper, International Business Machines (IBM) Corporation, Kony Mobility Platform, Mastercard Inc., PayPal Holdings Inc., and Visa Inc.