The mobile commerce market is expected to account for 24.4 percent of overall e-commerce revenues by the end of 2017, as a result of a growth in 2011, when the mobile online commerce market doubled in size reaching USD 65.6 billion, a recent report has revealed.
According to a report issued by US-based technology market research firm ABI Research, this growth is being fuelled by the rapid adoption of smartphones in both mature and developing markets, as well as a retail market in which traditional brick-and-mortar retailers are implementing multi-channel strategies in the face of increasing competition from internet-based vendors.
The report has also found that m-commerce is a relatively small percentage of the overall e-commerce market, but growing at a much faster rate. Mobile reached a tipping point in 2011, fuelled by the move from standalone applications and storefronts to the current situation where m-commerce platforms, applications and services are now being enhanced, optimized and integrated. Consumers are able to use their mobile devices to purchase a range of physical and digital goods and to choose from a range of options as to how they pay for them. Consequently, the introduction of HTML5, visual search, NFC, augmented reality and internet browsing will play an important part in mobile commerce.
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