Author: Denny

Mobile commerce survey released by MEF

| November 22, 2012

 

mobile commerce survey resultsMEF releases results of annual mobile commerce survey

The Mobile Entertainment Forum (MEF), a global trade association focused on the mobile media industry, has seen a marked rise in the realm of mobile commerce over the last few years. The trade group has released the results of a new survey that documents this growth and how consumers seem to be responding to the advent of mobile commerce services. The survey was conducted with the aid of On Device Research and spans 10 different countries, all of which boast of promising mobile markets.

Survey shows most mobile consumers engaged in some form of mobile commerce

According to the survey, nearly 88% of the world’s mobile media users are engaged in mobile commerce. The survey defines mobile commerce as “anyone using a mobile phone for research, purchase, or banking.” This definition is widely held as the standard in terms of mobile commerce, as this concept rarely refers to only mobile payments. The survey shows that research is the most popular form of mobile commerce, with 80% of all consumers using their mobile devices to find out more information on products and services.

Mobile commerce sees most growth in emerging markets

The survey shows that 55% of consumers around the world have made purchases using their mobile devices. The most growth in this facet of mobile commerce comes from emerging markets, such as Qatar, India, and South Africa. Mature markets, such as the United Kingdom and the U.S. remain somewhat static in terms of mobile purchases from consumers. The majority of mobile commerce is still reserved to the digital realm through e-commerce sites and online retailers, rather than physical purchases in stores.

Entertainment and convenience major reasons for mobile commerce engagement

According to MEF, entrainment and convenience are the primary reasons consumers around the world are interested in mobile commerce. Trust is also a significant factor, but many consumers continue to express concerns regarding the security of mobile payments. The companies involved in mobile commerce have been working to address these concerns, but consumers largely remain leery of having their financial information put at risk.

NFC Market expected to see major growth

| November 20, 2012

 

Report highlights the growth of the NFC market

MarketsandMarkets, a leading marNFC Market Growth Mobile Commerceket research publication, has published a new report titled “Near Field Communication (NFC) Market — Global Forecast & Analysis.” The report highlights the various trends that surround the NFC market and predicts the growth that the technology will see between  the 2011 to 2016 period. The report covers a wide range of aspects in the NFC market, such as NFC applications, reading technologies, electronic ticketing, mobile marketing, and mobile commerce.

NFC market expected to see CAGR of 38% through 2016

According to the report, the global NFC market is expected to see a compound annual growth rate of 38% between 2011 and 2016. The NFC applications market alone is expected to reach more than $10 billion by the end of 2016. The report also notes that NFC technology will continue to see significant attention in the realm of mobile commerce. This is largely due to the fact that much of mobile commerce hinges on the capabilities of NFC technology.

Marketing may play a major role in growth

NFC has begun to attract a great deal of attention beyond the mobile commerce space. The technology has, in the past, been used in mobile marketing as a way to engage consumers. NFC is seeing more interest in this field as consumers become more familiar with the technology. The marketing industry is expected to add a significant amount of momentum to the NFC market. The technology is also proficient in facilitating data transfer and managing security access protocols, two additional sectors which are growing more popular throughout the world.

Consumers still leery of mobile commerce

The majority of growth the NFC market will see is expected to occur in the mobile applications space, especially in regards to mobile commerce platforms. These mobile applications allow consumers to make purchases using their smart phones and other NFC-enabled devices. The most significant challenges that could slow growth or derail it entirely remain in the fields of security and the scarcity of NFC-enabled mobile devices. Low availability and lackluster security features have left many consumers leery of the NFC market and its applications.