Global M-Commerce Market to Reach US$2.4 Trillion by 2030

The global market for M-Commerce estimated at US$538.9 Billion in the year 2023, is expected to reach US$2.4 Trillion by 2030, growing at a CAGR of 24.0% over the analysis period 2023-2030. M Retailing, one of the segments analyzed in the report, is expected to record a 24.7% CAGR and reach US$1.3 Trillion by the end of the analysis period. Growth in the M Billing segment is estimated at 21.2% CAGR over the analysis period.

The U.S. Market is Estimated at US$144.0 Billion While China is Forecast to Grow at 33.5% CAGR

The M-Commerce market in the U.S. is estimated at US$144.0 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$727.9 Billion by the year 2030 trailing a CAGR of 33.5% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 17.8% and 20.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 18.8% CAGR.

Global M-Commerce Market - Key Trends and Drivers Summarized

The digital landscape has seen a significant transformation with the rise of mobile commerce (m-commerce), which has become a critical extension of traditional eCommerce. Leveraging the ubiquitous nature of smartphones, m-commerce enables consumers to access online shopping platforms anytime and anywhere, integrating mobile usage deeply into daily routines and consumer behaviors. This shift towards mobile commerce is driven by the convenience it offers, allowing consumers to shop on-the-go and providing a level of accessibility that desktop-bound eCommerce platforms cannot match. With the majority of internet interactions in the U.S. occurring via smartphones, the impact of m-commerce on consumer shopping habits and eCommerce growth is substantial. The personalization and user-friendly nature of mobile shopping experiences are tailoring consumer interactions with brands in unprecedented ways, making the quality of these experiences a critical factor in eCommerce success.

The demographic most engaged with mobile commerce comprises younger consumers, particularly those aged 18 to 34, who use smartphones not just for communication but as primary tools for entertainment and shopping. This demographic`s preference for mobile shopping, combined with technological enhancements in smartphone design, such as larger screens and improved user interfaces, is expanding m-commerce`s appeal across broader age groups. Furthermore, innovations in mobile technology enhance the user experience by simplifying the online buying process through features such as one-click shopping, integrated payment systems, and personalization through AI and chatbots. These advancements not only make shopping more intuitive and engaging but also help in building customer loyalty through customized interactions and enhanced service delivery, directly influencing the conversion rates and retention strategies of businesses.

The growth of mobile commerce is fueled by several key drivers that reflect its dynamic nature and ability to meet evolving consumer needs and technological advancements. Omni-channel retailing strategies, which blend in-store and online shopping experiences, rely heavily on mobile devices to bridge the gap between these two platforms, enhancing customer engagement and loyalty. Furthermore, the rollout of 5G technology is expected to significantly improve the functionality of mobile commerce applications by enabling faster, more reliable internet connections. This development will support more complex and data-intensive applications, improving the overall user experience in mobile shopping. Additionally, environmental sustainability concerns are influencing consumer preferences, with more people choosing brands that align with eco-friendly practices, which mobile commerce can support by reducing the need for physical retail infrastructure. The integration of mobile commerce with IoT devices, advancements in mobile security, and the rising influence of digital-native demographics like Millennials and Gen Z further highlight the expanding scope and potential of m-commerce. These factors collectively drive innovation and growth in the mobile commerce sector, emphasizing its increasing importance in the global retail ecosystem and underscoring the necessity for businesses to adapt to this mobile-driven world to remain competitive and relevant.