Mobile commerce transactions are estimated to reach a volume of 200bn annually by 2019. That's a three fold increase over the 72bn estimated for this year. In a week where there has been some evidence the likes of Apple Pay are not picking up traction as fast as some would like, there is more weight added to the school of thought that mobile commerce is coming, and is here to stay.
Juniper Research published the report into the mobile commerce market (head here to download the full report). The majority of the predicted growth was attributed to the likes of Apple Pay, but also the potential for growth in the use of host card emulation (HCE) technologies from banks.
A further contributing factor to the widely increased level of transactions by 2019, according to Juniper, is the proliferation of digital sales. People are spending more money on digital goods directly on their mobile than ever before. No longer is it just ringtones bought directly on smartphones or tablet devices: Sales of digital copies of music, films and apps are all on the up. In-app purchase in social gaming also plays a large part. So called free-to-play games, very rarely are - hence Apple's decision recently to remove the 'FREE' button on the app store and instead replace with a 'GET' button.
Dr Windsor Holden, author of the report also commented on the role of carrier billing:
"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. For the first time, they can monetise consumers who would otherwise have been excluded either because they lacked a credit card or because they were unwilling to enter card details online."
Mobile commerce growth is taking place globally. In western countries it is attempting to battle and take ground over existing channels, and in less developed countries filling a void and providing a service that had been unavailable previously to many. The benefits of a mobile revolution are there, it's just a matter of education and time for both businesses and consumers to adapt and realise it.
By Matthew Taylor
4th December 2014
Related stories around the web
Press Release: Mobile commerce transactions to approach 200bn 2019,
Juniper report finds - Juniper Research
M-commerce transactions to nearby treble by 2019 - study - Mobile World Live
Juniper: mCommerce transactions gunning for 200B by 2019 - Mobile Marketing Watch
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