According to a  report from International Telecommunication Union, exponential growth in smartphones, tablets and other web-enabled mobile devices will result in mobile web being more popular than the web as we know. With this paradigm shift, businesses across the globe see opportunities of getting into the hands of their customers, quite literally.

mCommerce products and services that gaining visibility :

Mobile Ticketing	Mobile Banking
Mobile Vouchers & Coupons	Mobile/Virtual Storefront
Content Purchasing & Delivery	Brokerage
Location-based Services	Auctions
Information Services	Mobile Marketing & Advertising

 

Among the many applications of mCommerce, shopping on mobile devices is expected to lead the way

Gartner says there will be 141.1 million m-payment users in 2011 (up 38.2 percent from 2010), m-payments will total US $86.1 billion in 2011 (up 75.9 percent from 2010). Juniper Research estimates total value of mobile payments for digital and physical goods, money transfers and NFC (Near Field Communications) transactions will reach $670bn by 2015, up from $240bn this year.

While the rest of the world trial/dream of payment by mobile, in Japan it is already a way of life

ComScore research indicates that in December 2010 alone, 9.8 million or 10 percent of Japanese mobile subscribers used their mobile wallet to make a purchase. 7.6 million consumers made a purchase in a retail/convenience store; 3.2 million
NFC payments will exceed €110 billion globally in 2015 according to Frost & Sullivan. Also, 863 million units or 53 percent of new handsets will be NFC-enabled by 2015. purchased from a vending machine; 2.7 million paid for public transport; 2.6 million purchased in grocery stores; and 1.5 million paid a restaurant bill all using their mobile phone, instead of cash, card or check.

Shopping on the mobile Web will reach US$119 billion in 2015, predicts ABI Research, that’s about 8 percent of the total e-commerce market. In the US, mobile shopping revenues are expected to hit $6 billion by the end of 2011, growing to $31 billion by 2016, according to Forrester Research.

Gearing up for the future – the need for a Mobile Strategy

Analyst reports clearly indicate that business need to be prepared for these innovations in mCommerce that will change the way shopping is done in the future.

Powerful and intuitive Mobile web development and cross platform mobile development will be key to make or break businesses in the mCommerce space.

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Anubavam will be exhibiting at this year’s Apps World Europe event and will be on stand 56. To book your free exhibition pass please click here.