Skip to main content

Forecast Predicts Rapid Growth of Mobile Commerce

Over the past 5 years, the scale of mobile commerce in its various forms -- such as banking, money transfer, retail, ticketing and coupons -- has grown at a remarkable rate. Several key factors have served to fuel the deployment of new transaction-based services and their adoption by end users.

Juniper Research has found that the combination of mobile phone and media tablet users will make 195 billion mobile commerce transactions annually by 2019 -- that's up from 72 billion in 2014.

According to their latest worldwide market study, highest growth rates are expected in the NFC (Near Field Communications) sector.

Moreover, usage is expected to be buoyed by the launch of Apple Pay, together with a host of anticipated deployments by banks using solutions based on HCE (Host Card Emulation) technology.

However, the highest net increase in transaction volumes will occur in the digital goods sector, fueled by a surge in micro-payments for in-app purchases, notably within arenas such as online social gaming.

Juniper highlighted the opportunity for digital content monetization presented by direct billing from mobile service providers, particularly within under-banked regions and other demographics in the emerging markets.


"Storefronts that have deployed carrier billing solutions have already seen positive results across a range of indicators - higher conversion rates, higher average transaction values, higher transaction volumes," said Dr Windsor Holden, head of consultancy and forecasting at Juniper Research.

For the first time, retailers can monetize consumers who would otherwise have been excluded either because they lacked a credit card or because they were unwilling to enter card details online.

Meanwhile, the study observed that many mobile ticketing deployments had seen rapid adoption rates immediately post-launch, suggesting a pent-up demand for such services.

In the U.S. market, the Massachusetts Bay Transportation Authority deployed mTicket ,accounting for 15 percent of ticket sales within 9 months of launch, while New York Waterways has reached 25 percent in less than 2 years.

Other findings from the market study include:
  • There is significant transactional migration from desktop to mobile as consumers increasingly "media-stack" (i.e. make purchases on their devices while watching TV).
  • Rather than focusing purely on payments, stakeholders need to emphasize the synergies between mobile payment and loyalty to persuade retailers to become engaged.

Popular posts from this blog

Climate Change Benefits from The Circular Economy

The COP26 Summit (in Glasgow, Scotland)  brought parties together to accelerate action towards the goals of the Paris Agreement and the UN Framework Convention on Climate Change. Meanwhile, the circular economy is a key sustainability strategy adopted by industry leaders in their efforts to achieve progress. While the circular economy is still in its infancy in terms of data and metrics, it's a growing phenomenon where technology sectors -- such as the Internet of Things (IoT) for asset tracking -- are set to grow rapidly within the next five years. Global technology intelligence firm ABI Research forecasts that the world will achieve over 10.5 percent circularity by 2030, as sustainability efforts and incoming legislation start to take effect. Circular Economy Tech Market Development "The circular economy is an often-misunderstood concept that goes much further than waste management and can become a blueprint for cities. It is a movement away from our take-make-waste economy

Business Technology for The Anywhere Workspace

The COVID-19 global pandemic fueled the trend of pushing executives outside of their comfort zone, while government-mandated lockdowns required their knowledge worker employees to work from home. Companies that previously avoided 'Flexible Working' models were forced to embrace the pervasive trend in a matter of weeks, as new remote working policies became a CHRO standard practice. As we enter 2022, more employers will empower their key employees to work wherever they desire and engage with customers whenever and however they prefer. Moreover, the ongoing transformation to an 'Anywhere Workspace' will drive strategic IT spending and advance cloud-based SaaS adoption. Business Technology Market Development Global enterprise IT spending is projected to total $4.5 trillion in 2022, an increase of 5.5 percent over 2021, according to the latest worldwide market study by Gartner. "Enterprises will increasingly build new technologies and software, rather than buy and imp

Top 10 Predictions for The Worldwide CIO

Chief executives are eager to accelerate a digital business growth agenda. Focused on business model reinvention, the remediation of technical debt, sustainable IT infrastructure and more, International Data Corporation (IDC) unveiled their Worldwide CIO Agenda 2022 Predictions. The key IDC predictions will likely impact CIOs and IT professionals over the next one-to-five years. IDC analysts believe IT leaders have opportunities that will not present themselves again in their lifetimes. Chief Information Officer Agenda Predictions With forward-looking insights, IDC provides senior IT leaders and Line-of-Business (LoB) executives with actionable guidance for managing IT investment priorities and implementation strategies as they continue to navigate the winds of change. The top ten IDC predictions are: 1: Through 2026, 65 percent of CIOs will sustain a cycle of tech-based empowerment, agility, and resilience through collaborative governance, new service delivery models, and a business o