Transparency Market Research Report Added "Mobile Commerce Market" to its database.
Albany, NY -- (SBWIRE) -- 03/24/2015 -- Mobile commerce is a way of dealing with financial transactions with the help of mobile consumer electronics devices such as mobile phones, laptops, and tablets. This works as a more efficient, less cumbersome, and easier method of financial transactions. The convenience of this method has quickly made it popular among a wide range of mobile device buyers. Mobile commerce includes utility and other bill payments such as electricity, mobile network, and satellite TV; personal account management; and fund transfers.
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Mobile commerce is the next stage in the natural evolution of e-commerce technology. Along with the advantages offered by e-commerce over conventional methods of holding financial transactions such as eliminating the need to physically visit a location to make a payment, m-commerce adds a whole new raft of dynamic aspects to e-commerce, which makes it the best tool to reach out to and communicate with customers. The technological development of the mobile commerce market is still nascent, which leaves massive scope for its expansion.
The expansion of the global mobile commerce market is expected to be aided by the huge growth trajectory of the consumer electronics markets all over the world. The growing spread of increasingly technologically potent devices in developing regions such as Asia Pacific, the Middle East, and Latin America will open up new avenues for the expansion of the global mobile commerce market.
Growing Applications of Mobile Commerce
Several industries benefit from utilizing mobile commerce services to enable increased access for consumers.
Some of these include:
Travel and ticketing
Enterprise resource planning
Dispatching and inventory tracking
Mobile commerce is gaining a stronger foothold in all of these segments with growing technological development. Since the technological base of mobile commerce applications is not yet rigid and perfected, the near future will see growing innovation in the field, enabling further incorporation into all these application categories.
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Proliferation of Technology to Make Mobile Commerce More Available
The need for the ability to make spontaneous decisions about financial matters is the fundamental driving factor for the mobile commerce market. This is aided by the proliferation of electronic devices that can access the Internet, which puts more power into the hands of the common man. Consumer electronics constitute one of the fastest growing markets in the world, with developing economies in various regions massively benefitting their respective national consumer electronics markets by making the average consumer more financially capable.Recognizing the potential of this method to increase contact with consumers, most if not all major enterprises in the world have established a strong presence on the Internet.
The consistently rising ability of more people to access more information more easily is the main driver of the global mobile commerce market.
The relative lack of mobile literacy in developing countries is at present a restraining factor for the mobile commerce market. However, increasing sales of smartphones in the near future is expected to gradually banish this restraint.
North America, Europe Dominate Global Mobile Commerce Market
The global mobile commerce market is divided into four regional segments: North America, Europe, Asia Pacific, and Rest of the World.
North America and Europe are the leading segments within the mobile commerce market, thanks to the established network of virtual commerce chains, such as links between vendors and banks. The advanced technological landscape of these regions also lends itself to large-scale incorporation of mobile commerce, since it is easier to access mobile commerce avenues on more advanced devices.
Asia Pacific is expected to take a leading role in the growth of the global mobile commerce market owing to rapid development and increasing spending power in consumers from economies such as China, India, and South Korea.
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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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