Dallas – The global mobile commerce market will grow from $116.1 billion in 2014 to $467.3 billion in 2019. According to a new report from MarketsandMarkets, in terms of geographies, North America and Europe are expected to be the biggest markets in terms of revenue contribution, while Asia-Pacific and Middle East-Africa are expected to experience increased market traction during the forecast period.
MarketsandMarkets data indicates m-commerce growth prospects are due to increase in the smartphone, tablets, mobile devices, BYOD and Internet-enabled devices. However, accompanying these would be challenges such as securing the flow of information, application and network infrastructure, and intense competition. The evolution of the mobile application infrastructure, cross-platform communication methods and the familiarity of people with the mobile applications and services would brighten the future of m-commerce services.