The report titled Mobile Commerce Market which was recently added by Kenneth Research, aims at providing the clients with the business growth and investment opportunities present in the market globally. Further, the market is evaluated on various parameters that is covered in the report and further includes market size, market volume and the growth rate over the forecast period, i.e., 2022-2031. The market is further anticipated to grow with a robust CAGR throughout the forecast period.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Mobile Commerce Market Products.
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In Canada, the ICT sector consists of around 41,500 companies. Out of these, over 37,000 companies fall under software and computer services industry, resulting in around 89.8% of key players in the ICT industry to be involved in software and computer services. On the other hand, in the year 2018, as per the statistics of the Canadian ICT Sector Profile, released by the Government of Canada, ICT wholesaling, communications services and ICT manufacturing contributes to 4.5%, 3.4% and 2.2% share respectively in the country.
Mobile Commerce is the activity of commencing commercial transactions between both B2C and B2B entities via mobile devices. Indian retail market has experienced high growth over the last decade with a gradual shift towards modern retailing formats. With growing numbers of mobile devices and mammoth wireless subscriber base, the focus is slowly shifting to mobile platforms. Leveraging on enhanced reach like MVAS and diverse features like of e-commerce, m-commerce is poised for greater adoption across India, in the coming years.
“Although mobile commerce market in India is in nascent stage, m-payment and m-banking segments have shown significant growth over the last few years. Initiative taken by the government and financial organizations to reach India’s un-banked population can ensure tremendous growth in the latter segments. There are around 600,000 territories that require banking facilities but only around 89,000 bank branches are there in the country.” says Mr. Kalyan Banga, Product Manager at Netscribes.
The report begins with ‘Introduction’ section covering overview of mobile commerce or m-commerce which provides basic idea of the segment, essential features of m-commerce system which describes the idle features that should exist in an m-commerce solution. Retail ecosystem with m-commerce delivers a comparison between traditional, modern and m-commerce based retail supply chain in the form of a diagram.
The ‘Mobile Commerce Overview’ section elaborates global & domestic market state of m-commerce. It is accompanied by a plethora of statistical information regarding major m-commerce segments in various countries including in India, such as global trend, state in major countries, global m-payment market size and growth, domestic market size of M-Payment and projection of the same in the coming years and, other related information. Major MVAS delivery platforms for m-commerce services are also covered in the section with details regarding each of the components’ cost, application and usage trends. “Analysis show, P2P transaction, utility bill payments, mobile recharges and, at times, P2M transactions are the ones for which mobile payments are used in India predominantly” noted Kalyan. The section continues with mobile commerce value chain diagram along with a comparison between the demand and supply side of
m-commerce system. The section ends with SWOT analysis of the Indian m-commerce market.
It is followed by ‘Drivers & Challenges’ section elaborating the major furtherance & impediments for m-commerce market in India. Both the ‘drivers’ and ‘challenges’ are equally stressed upon to provide clear idea regarding the probable obstacles and rewards in the line of business and help vendors take necessary measures. “With huge mobile subscriber base across India and increasing trend of shopping over internet amongst youth has set the stage for m-commerce in India, but low awareness and security concerns are delaying significant adoption of the same” added Kalyan.
The report continues with ‘Market Opportunity’ section where potential verticals for m-commerce solutions in India are elaborated. Specific verticals have been highlighted with information regarding each of their market state and opportunity areas for m-commerce. The section also consists of a ‘Vendor Opportunities’ stressing on specific prospective segments and areas for mobile commerce. The section consists of statistical charts and pictorial representation for profound knowledge.
In the ‘M-Commerce Player Profiles’ section, the key m-commerce service providers are profiled. It provides information such as corporate & business highlights covering operational & recent information regarding each company’s contact information, location, key product and service offerings and key contacts. It also provides financial performance for a period of time including revenue and profit, key ratios, financial summary and key financial performance indicators. Key business segment and key geographic segment for each player are provided as well to provide further clear idea regarding the companies.
Next the recent developments and prominent trends in the market are illuminated under ‘Market Trends’ section.
The report concludes with the section ‘Strategic Recommendation’ which is derived after a comprehensive analysis of the market state & scope. It suggests key strategic moves which can help enhance and accelerate adopting of MVAS. “M-commerce services stand to gain immense traction in India, if rural and sub-urban population and their needs and preferences are properly catered. For urban market, which is being driven largely by youth, players should develop visually appealing interactive and well organized m-commerce solutions”, said Kalyan.
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The Market report answers the following questions:
What is the aim of the report?
- The Mobile Commerce Market report presents the estimated market size of Market by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
- Based on various indicators, the Year-on-Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
- An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
- The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
- The various parameters accelerating the growth of Market are incorporated in the research report.
- The report analyzes growth rate, market size and valuation of the Market during the forecast period.
What aspects regarding the regional analysis Market are included in this report?
- Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
- The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
- The growth rate of the market in every region, including their countries over the forecast period is included in the market report.
Based on what factors are the key market players assessed in this report?
- The report offers detailed analysis of leading companies in the market across the globe.
- It provides details of the major vendors involved in the Market including Key Players
- A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and the manufactured products is incorporated in the report.
- The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
- The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.
What is the key information extracted from the report?
- Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
- The report offers the present scenario and future growth prospects Market in various geographical regions.
- The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
- The SWOT analysis is conducted along with Porter’s Five Force analysis.
- The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
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