LONDON--(BUSINESS WIRE)--Technavio has announced the top six leading vendors in their recent global m-commerce market report. This research report also lists 21 other prominent vendors that are expected to impact the market during the forecast period.
The global m-commerce market was valued at USD 291.1 billion in 2015 and it is projected to grow at a CAGR of 27.48% during the forecast period to reach USD 980.2 billion by 2020.
Mobile commerce or m-commerce refers to buying and selling of goods and services using hand-held devices like smartphones and tablets. Rapid technological advances have brought significant growth to the mobile device and global m-commerce market, with more and more people inclined to use smart devices to carry out their m-commerce activities. 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.
Competitive vendor landscape
The global m-commerce market is highly competitive because of the presence of many large established players on the basis of product portfolio, pricing, delivery and payment options, policies, varieties, offers, and brands. Vendors are also investing in planning, designing, developing, acquiring new players, and expanding existing facilities. During the forecast period, the competition will become more intense among the vendors to deliver advanced technology to gain competitive advantages.
“Technological innovation and creativity play a significant role in driving the m-commerce market growth. To sustain in the competitive market, vendors not only have to develop new ideas and technologies but also have to stay up-to-date with the emerging technologies that could influence their service lines,” says Ujjwal Doshi, a lead media and entertainment services analyst from Technavio.
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Top six m-commerce market vendors
Alibaba Group provides online and mobile marketplaces in wholesale and retail trade, globally. The Alimama marketing technology platform under the company offers payment for performance and display marketing services. Taobao, Tmall, Juhuasuan, Aliexpress, 1688.com, Alimama, Aliyun, Alipay, and Cainiao are various subsidiaries and affiliated companies under the parent company Alibaba Group.
The company provides database, payment and escrow services, and computing services through its cloud computing platform. Alibaba also develops and operates mobile web browsers. It has sales offices in China and Hong Kong.
Amazon.com is an e-commerce company that serves general consumers, enterprises, sellers, and content creators. Its services include co-branded credit card agreements and advertising services.
The platform offers new, refurbished, unique as well as used products in entertainment, sports and outdoor, automotive and industrial, electronics, health and beauty, and clothing among others. The company also runs several retail websites to provide its services to a large number of people.
In terms of revenue, Apple is the world's second largest IT company. It offers a wide range of services that includes mobile devices, operating systems, related software and applications, and peripherals. The company also distributes third-party digital content and applications through iTunes and App Store. According to Forbes, as of May 2014, the company was the world's most valuable brand among 2,000 global companies. It is also the largest publicly traded company in terms of market capitalization with USD 775 billion (2015).
eBay is a global commerce and payment solutions leader. The company provides an online marketplace that connects millions of buyers and sellers across the world. As of 2015, the company supported a fulfillment centers, strong operational network, product development offices, and customer service offices in 32 countries including Germany, the UK, and the US.
Google is a technology company that builds various technology products, and provides various services for organizing information. It generates revenue from online advertising, enterprise-related products and services, operating systems and platforms, and selling hardware products. The company provides services in more than 100 languages in more than 50 countries worldwide.
PayPal is a major online payment platform that allows financial transactions for users with a PayPal account. Payments can be made through PayPal balance, bank account, credit card, PayPal credit or debit card. It also has an instant payment notification option that alerts the user when a transaction takes place.
PayPal receives most of its revenue from eBay purchasers and provides an inexpensive and easy way payment gateway. It offers a secure web-based wallet system to transfer funds for both senders and receivers.
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