As mobile device communication continues to proliferate at an astonishing rate, so too do the ways in which we use it. According to a recent survey conducted by MasterCard (News - Alert), buying on the go with smartphones and tablets—what we call mobile commerce—is an avenue that will continue to see increased traffic over the next few years, especially in Asia and the South Pacific.
In fact, the survey shows that the vast majority of mobile populations in some Asian nations use smartphones and other mobile technology for many of their shopping needs. In China, for example, an estimated 70 percent of mobile users are purchasing products and services via mobile devices, making it the worldwide leading mobile commerce market.
Nevertheless, India is still the frontrunner in mobile market expansion, as well human population expansion, and is projected to overtake China in both categories in the coming years.
The convenience of mobile commerce has not been lost on any corner of the globe, and one of the reasons for unprecedented projections for growth of mobile commerce in India is ever-growing availability of mobile networks to newly industrialized countries (NICs). As the populations of India and other Asian countries grow in chorus with intensified global focus on mobile technology, the mobile commerce market will continue to be fed new opportunities for big gains.
India in particular has already shifted much of its commerce to the Internet. As its growing population, increases its purchasing power, and as application developers continue to hone in on the profit potential of mobile commerce, the nation of more than one billion will undoubtedly drive exponential growth in the industry. The world’s second-largest nation should contribute to mobile commerce both in terms of added capital and in new applications.
In other words, MasterCard’s newest survey doesn’t just establish India as a marketplace, but also as a potentially formidable contender in the world of mobile commerce. Regardless of which way the wind blows when we reach these straits, huge developments will continue to dominate all forecasts for the future of mobile commerce.
Edited by Maurice Nagle
Back to Mobile Commerce Insider Home