Telecom Lead India: The m-commerce market is expected to
account for 24.4 percent of e-commerce revenues by 2017.
The mobile online commerce market doubled in size to
$65.6 billion in 2011.
Growth will be fueled by adoption of smartphones in both
mature and developing markets, as well as retailers’ implementation of
multi-channel strategies to fight competition from Internet-based vendors.
Currently, m-commerce is a relatively small percentage of
the overall e-commerce market. Mobile reached a tipping point in 2011, fuelled
by the move from standalone apps and storefronts to the current situation where
m-commerce platforms, apps, and services are now being enhanced, optimized and
integrated.
M-commerce is not yet mass market, but it is delivering
remarkable growth in tough economic conditions. There remain questions, as how
to best realize the value and ROI of m-commerce but innovative retailers with
the resources to invest in the development of their mobile portfolio have
clearly identified this as the way forward,” said John Devlin, practice
director, ABI Research.
The introduction of HTML5, visual search, NFC, augmented reality,
full Internet browsing, and (in-door) location will increasingly play a part in
growing m-commerce.
Consumer awareness has been boosted by the Groupon effect
and now everyone wants a bargain. This is further exacerbated by the need in
the retail sector to a) differentiate from the competition, b) be seen to be
offering value, and c) an enhanced need to increase consumer engagement and
interaction. Mobile helps to fulfill all of these criteria.
