Valued at USD 1.42 trillion in 2024, the m-commerce market is projected to reach USD 1.50 trillion in 2025 and USD 2.60 trillion by 2034, growing at a CAGR of 6.3% during the forecast period 2025–2034. The market is segmented by transaction, payment mode, end use, and region. North America was the largest region in 2024. Key players operating in the global market include Boku Inc., Ericsson, Gemalto, Google Inc., IBM Corp., Mastercard Inc., Oxygen8 Solutions, Inc., PayPal, SAP AG, and Visa Inc.

M-Retailing Leads Transactions in the M-Commerce Market

By transaction, the market covers m-retailing, M ticketing/booking, M billing, and others. M-retailing held the largest share in 2024. Retailers and digital brands are expanding their mobile websites and apps, and the report lists digital payment options and mobile checkout improvements among key trends.

Near-Field Communication Dominates Payment Modes

By payment mode, the market includes near-field communication (NFC), premium SMS, wireless application protocol (WAP), direct carrier billing, and others. Near-field communication dominated in 2024. By end use, the market is segmented into smart device users and feature phone users.

Market Overview and Forecast Scope

The m-commerce market reached USD 1.42 trillion in 2024 and is projected to rise to USD 2.60 trillion by 2034. The report's forecast period runs from 2025 to 2034, with historical data covering 2020 to 2023.

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Mobile Wallets and Smartphone Penetration

Rising smartphone penetration and internet adoption, including the use of mobile payments and mobile wallets, is a primary growth driver. The convenience of online shopping, including price comparison, discounts, and time savings, also supports adoption. The report cites World Bank data showing 9.14 billion mobile cellular subscriptions in 2024, and describes personalization, mobility, and broad device reach as core m-commerce advantages.

5G Networks and Connectivity Expansion

The expansion of 4G and 5G networks, together with affordable internet-enabled devices, is another driver. The report also points to growth in B2B e-commerce, which International Trade Administration data cited on the page projects to reach USD 36 trillion by 2026, and cites expected internet users of 900 million by 2025 based on Ministry of Electronics and Information Technology data.

Regional Outlook

North America held the largest revenue share in 2024, attributed to a developed digital ecosystem, high-speed networks, consumer trust in digital payments, and early mobile wallet adoption. Asia Pacific is expected to grow fastest over the forecast period, driven by budget smartphones, affordable mobile data, social-commerce integration, and fintech growth. The report covers North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, with country-level breakdowns provided in the full report.

Challenges Facing Mobile Commerce

Restraints include location management issues in rural areas, high initial investment for mobile apps, and customer cellular data use. Mobile networks are also described as more vulnerable to criminal activity than PC internet connections, which makes some users hesitant. These factors are listed among the market's restraints and challenges.

Recent Industry Developments

Recent industry m-commerce developments highlighted in the report include the following. In December 2025, Apple expanded Apple Pay to 12 more markets in Latin America and Africa, adding local mobile money systems. In August 2025, Amazon introduced a new mobile payment solution to reduce purchase friction. In September 2025, Alibaba announced a logistics network expansion across Southeast Asia through local partnerships.

Segment Leaders in 2024

As of 2024, North America was the largest region, m-retailing was the leading transaction type, and near-field communication was the leading payment mode. Asia Pacific is expected to be the fastest-growing region over the forecast period.

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