Press Release: Mobile Commerce Market Set to Accelerate with NFC Facilitating $74bn Transactions by 2015
Hampshire, UK: 8th March 2012: A new study by Juniper Research forecasts that NFC will facilitate transactions valued at
$74bn by 2015 as NFC is increasingly used for the payment of goods in-store and
as transport tickets; this is over treble the estimated value of this market in
2011. The increasing use of mobile
devices as an alternative to credit cards and paper tickets is one of the fastest
growing segments of the mobile commerce market.
The Mobile
Commerce Markets report shows that the rapid adoption of mobile devices for
commerce-related applications is by no means limited to NFC. All segments -
money transfers, banking, payments and coupons - are forecast to exhibit significant
growth rates.
Report author David Snow explained: "Our report demonstrates
the spectacular growth we see across all segments of the mobile commerce market.
Four of these segments (money transfer, physical goods, NFC and coupons) will
more than treble in transaction value over the next three years, whilst digital
goods, banking and tickets will still on average, double over the same period."
The Juniper report, however, stressed that mobile commerce
providers need to keep security issues in mind. Even if there is a perceived,
if not actual, security risk in the mind of users, not only the specific mobile
commerce application, but also the whole mobile commerce market may be set back
until user trust is recovered.
Further findings include:
·
SMS is the key to widespread mobile banking
service adoption
·
Without interoperability mobile money transfer
services will struggle to gain a critical mass of users.
·
Whilst mobile coupons still represent the
smallest mobile commerce segment, it is demonstrating the highest growth rate.
The new Juniper report features segment level assessments of mobile payments for digital and physical
goods, NFC, mobile money transfer and remittances, mobile ticketing, mobile
coupons and mobile banking. The study pinpoints the key market drivers and
constraints and sizes all seven mobile commerce market segments through global five
year forecasts of gross transaction values.
The Mobile Commerce whitepaper is available to
download from the Juniper website together with further details of the study.
Juniper Research provides research and analytical services to the global
hi-tech communications sector, providing consultancy, analyst reports and industry
commentary.
Jess Hanslip
Juniper Research
T: +44(0)1256 830 001
E: jess.hanslip@juniperresearch.com
Author
Related Reports
- Mobile Commerce Markets - Payments, Ticketing, Coupons, Money Transfer & Banking 2012-2016
- The Mobile Commerce Briefing 2012-2016
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