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The growth in M Commerce industry is expected to grow sequentially with the growth in number of mobile devices
Mobile retailing, Mobile Ticketing/Booking and Mobile Billing accounts for the top three largest markets during the forecast period 2014-2019. The M Commerce services is applicable for Retail, travel and hospitality, telecom andmedia and entertainment verticals, for any type of business, as today majority of businesses relies on internet communications to take key decisions. The essentialities of today’s business transactioninclude continuous connectivity, internet service and speedy data sharing. Nowadays, customer wants easier and flexible solutions for their transaction and payment. Due to advancement in internet technology, and better internet connectivity over mobile phones, M Commerce players can now serve their customers with variety of multimedia services.
Apart from Mobile retailing, Mobile Ticketing/Booking and Mobile Billing, there are few other revenue pockets, namelyWireless Application Protocol (WAP), and premium SMS which would witness significant growth during the forecast period.
The growth in M Commerce industry is expected to grow sequentially with the growth in number of mobile devices driven by proliferation of media-rich mobile communication devices (smart phones and tablets), growing number of internet users, faster broadband speeds and increased internet usage.
The M Commerce services are crucial in delivering any type of business transactions, for any type of business. The application of M Commerce services across the top three verticals include:
Application in Retail market:
- Helps to communicate better with customers on therequirements by providing information and location based services.
- Helps in delivering customer-centricservices such as mobile vouchers, coupons and loyalty cardsto strengthen customer loyalty.
- Enhances shopping experience through easier and flexible payment options such as mobile money transfer, mobile ATM, mobile banking and mobile purchase.
- Reduce traditionalmarketing and advertising expenditure by providing personalized mobile services to the clients.
Application in Travel and Hospitality market:
- Provides access to new type of transactions including on-the-air card less payments, peer-to-peer transfer and international remittances in a user friendly environment.
- Enables travel and hospitality businesses for more interaction with customers through mobile channel.
- Increases reach to new market segments such as youth and under-banked customers.
- Easy and convenient one-click booking and payments.
Application in Media and Entertainment market:
- Provides payment processing and service delivery platform with dynamic real-time integration and rapid application developments.
- Provides new value-added services to enhance the loyalty of existing customers.
- Sharing of various types of multimedia services through cross-platform applications and devices.
- Provides communication across the globe irrespective of geographical distances.
M Commerce Market by Transactions (M Retailing, M Ticketing/Booking, M Billing, Other M Commerce Services), Payment Modes (NFC, Premium SMS, WAP, Carrier Billing), Users (Smart Devices, Feature Phones) - Worldwide Forecasts & Analysis (2014 - 2019)
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