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Finance & Economics

3 largest mobile commerce markets in the world – research

Nov 13, 2018

Find out who ranks third, with only China and US performing better

3 largest mobile commerce markets in the world – research. Source: shutterstock.com

As Ecommerce?News reported, Worldpay presented a new study on online shopping in 36 countries across the globe. It shows that m-commerce currently accounts for 38% of the 1.13 trillion euros in global e-commerce sales and that global m-commerce is set to grow 19% over the next five years.

Top-3 economies in terms of m-commerce include?China (652.6 billion euros), the US (183.2 billion euros), and?the UK (55.9 billion euros).

In the United Kingdom, m-commerce leads as the fastest growing channel and is set to grow at a rate of 16% annually, to become worth slightly over 100 billion euros by 2022. The study also shows that e-wallets are a popular choice for UK consumers who purchase via mobile. This payment method currently makes up 23.2% of online payments in the UK.

The UK, in particular, is a highly-developed market, and with 99% of the population connected to the internet, e-wallets are clearly the future of mobile commerce for shoppers – but this is only the beginning. The latest innovations in device hardware, from voice recognition to facial scanning, are helping make payments more seamless and secure than ever before, prompting consumers to ditch desktop in favor of their smartphone or tablet
Motie Bring, Worldpay

SEE ALSO:?Top 10 online grocery markets by 2023 – research

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