A new report has revealed that the number of mobile devices users that will make some form of mobile commerce transaction will rise from 1.6 billion in 2014 to over 2 billion by the end of 2017.
The report from Juniper Research titled “Mobile Commerce Markets: Key Sector Strategies, Opportunities & Forecasts 2014-2019” says that mobile consumption of services such as banking, money transfer and purchases of goods and services was surging as consumers were either migrating from desktop usage or becoming first-time e-commerce users through their smartphones or tablets.
It found that in a number of developed markets, mobile devices would account for over half of online transactions within five years.
The report also highlighted the potential of social networks in accelerating mobile commerce adoption. According to the author, Windsor Holden, “brands and retailers should certainly seek to integrate their offerings with players such as Facebook and FourSquare. Integration offers reach, allied to the potential to target specific user demographics.”
It as well recommended the integration of operator billing capabilities with websites to monetise digital content among a wider user base.