m-commerce market to touch near trillion dollar market by 2020

The global m-commerce (mobile commerce) market was valued at USD 291.1 billion in 2015 and it is projected to grow at a CAGR of 27.48% during 2016-2020 to reach USD 980.2 billion by 2020, as per Technavio.

Higher adoption of mobile devices has enabled various retail stores to go online and continuously engage in rigorous marketing strategies to attract customers.

The growth of the global m-commerce market is mainly driven by factors like increasing wireless connectivity, growing broadband infrastructure, declining cost of mobile devices, and increasing presence of m-commerce apps. The increased spending capability of individuals has also resulted in the higher adoption of m-commerce.

The rapid growth has lead to a competitive vendor landscape. Yet most market share remain in hands of top players.

Top six m-commerce market vendors remain - Alibaba Group, Amazon.com, Apple, eBay, Google and PayPal, according to Technavio research.

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