Commerce – M Payment Market Trends, Market Share, Industry Size, Growth, Opportunities and Market Forecast – 2022 to 2028

The global commerce –M payment market is anticipated to grow at a significant CAGR of 16.8% during the forecast period (2022-2028). The rise in the penetration of smartphones coupled with rapid internet connectivity is anticipated to drive the growth of the market. For instance, according to the data published by Global System for Mobile Association (GSMA) in 2020, smartphone penetration is anticipated to reach 80.0% by 2025, owing to shifts and changes in consumer behavior. Moreover, 70.0% of smartphones are anticipated to run on LTE, reflecting the influence of mobile internet generation. Further as per GSMA, by the end of 2019, 3.8 billion people were using mobile internet, with three-quarters of all mobile internet users living in low and middle-income countries. Thus, the rise in mobile penetrations coupled with interconnectivity is projected to drive the demand for commerce -m payments market.

In addition, consumers are adopting digital payments for various purposes such as ticketing, billing, purchases of goods and services, and more owing to the ease of making payments. For instance, according to OSF Digital, mobile ticket purchases had made the experience more convenient for the consumer while reducing production costs and frauds, which affect up to 12.0% of the online purchasers. As a result, smart ticket adoption is projected to increase to 7.0% by 2023, as stated by Aventus Network.

Looking toward the demand, key market players are adopting various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in December 2021, Route Mobile Ltd. had launched Click2Pay, an instant payment solution designed to simplify communications commerce and deliver a seamless conversational experience. Further, in September 2021, Paypal had announced the launch of the new PayPal App, an all-in-one app that offers customers to manage their financial transactions in one place. This app introduced new features such as shopping tools, banking features, and more. Thus, such launches are anticipated to drive the growth of the market

Market Coverage

• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
  • By Transaction Type
  • By Payment Method
  • By End-User
• Regions Covered-
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
• Competitive Landscape- DHC Corp., PayPal holdings Inc., and Visa Inc., among others

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
  • Deviation from the pre-COVID-19 forecast
  • Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Commerce–M Payment Market Report by Segment

By Transaction Type

• M-Retailing
• M-ticketing
• M-Billing

By Payment Method

• Mobile Web Payments
• Near Field Communications
• SMS
• Others

By End-User

• BFSI
• IT & Telecommunication
• Logistics & Transportation
• Government
• Healthcare
• Others