According to the research company Gartner, the volume of the mobile commerce market will grow by 44% worldwide and reach $235 billion this year.
By 2017, the market volume will exceed $720 billion, and the number of users will be 450 million. These figures include bill payments, money transfers and consumer payments.
According to experts, mobile payments will increase significantly in the coming years. However, users are getting used to this service quite slowly. Starbucks is the only company that has managed to achieve significant success in this field. The volume of mobile operations of the international coffee supplier last year amounted to $500 million, according to Berg Insight.Gartner explains the slow development of mobile payments by the need to refine the service.
It is also noted that this is due to the high level of development of the US banking system. For comparison, more than 50% of the Kenyan population uses mobile payments.
However, the popularity of mobile applications such as Square, PayPal and Venmo has made it easier to transfer funds from one device to another. It may seem unrealistic that one day credit cards will go to the sidelines, skipping new ways to pay for goods, but the expected growth of mobile commerce indicates the opposite.
Accordingly, this situation perfectly reflects what is happening in the mobile application market. It is growing rapidly, and its dynamics are not going to fall, if we are talking about it entirely, but in some regions, where it actually started, growth is slowing down. In addition, those markets that previously could not bring anything to the gaming market (more precisely, its console, PC and social segments) are waking up. This happens for two reasons. Firstly, the cheaper smartphones. Secondly, the development of the free-2-play model.
The first and second factors open the gaming market to the unsecured segments of the population. The second factor also allows the “whales”, a very limited stratum of the richest residents of a developing country, to spend an unlimited amount of money on the game.
Source: www.insidemobileapps.com