Mobile Commerce is the activity of commencing commercial transactions between both B2C and B2B entities via mobile devices. Indian retail market has experienced high growth over the last decade with a gradual shift towards modern retailing formats. With growing numbers of mobile devices and mammoth wireless subscriber base, the focus is slowly shifting to mobile platforms. Leveraging on enhanced reach like MVAS and diverse features like of e-commerce, m-commerce is poised for greater adoption across India, in the coming years.
“Although mobile commerce market in India is in nascent stage, m-payment and m-banking segments have shown significant growth over the last few years. Initiative taken by the government and financial organizations to reach India’s un-banked population can ensure tremendous growth in the latter segments. There are around 600,000 territories that require banking facilities but only around 89,000 bank branches are there in the country.” says Mr. Kalyan Banga, Product Manager at Netscribes.
The report begins with ‘Introduction’ section covering overview of mobile commerce or m-commerce which provides basic idea of the segment, essential features of m-commerce system which describes the idle features that should exist in an m-commerce solution. Retail ecosystem with m-commerce delivers a comparison between traditional, modern and m-commerce based retail supply chain in the form of a diagram.
The ‘Mobile Commerce Overview’ section elaborates global & domestic market state of m-commerce. It is accompanied by a plethora of statistical information regarding major m-commerce segments in various countries including in India, such as global trend, state in major countries, global m-payment market size and growth, domestic market size of M-Payment and projection of the same in the coming years and, other related information. Major MVAS delivery platforms for m-commerce services are also covered in the section with details regarding each of the components’ cost, application and usage trends. “Analysis show, P2P transaction, utility bill payments, mobile recharges and, at times, P2M transactions are the ones for which mobile payments are used in India predominantly” noted Kalyan. The section continues with mobile commerce value chain diagram along with a comparison between the demand and supply side of m-commerce system. The section ends with SWOT analysis of the Indian m-commerce market.
It is followed by ‘Drivers & Challenges’ section elaborating the major furtherance & impediments for m-commerce market in India. Both the ‘drivers’ and ’challenges’ are equally stressed upon to provide clear idea regarding the probable obstacles and rewards in the line of business and help vendors take necessary measures. “With huge mobile subscriber base across India and increasing trend of shopping over internet amongst youth has set the stage for m-commerce in India, but low awareness and security concerns are delaying significant adoption of the same” added Kalyan.
The report continues with ‘Market Opportunity’ section where potential verticals for m-commerce solutions in India are elaborated. Specific verticals have been highlighted with information regarding each of their market state and opportunity areas for m-commerce. The section also consists of a ‘Vendor Opportunities’ stressing on specific prospective segments and areas for mobile commerce. The section consists of statistical charts and pictorial representation for profound knowledge.
In the ‘M-Commerce Player Profiles’ section, the key m-commerce service providers are profiled. It provides information such as corporate & business highlights covering operational & recent information regarding each company’s contact information, location, key product and service offerings and key contacts. It also provides financial performance for a period of time including revenue and profit, key ratios, financial summary and key financial performance indicators. Key business segment and key geographic segment for each player are provided as well to provide further clear idea regarding the companies.
Next the recent developments and prominent trends in the market are illuminated under ‘Market Trends’ section.
The report concludes with the section ‘Strategic Recommendation’ which is derived after a comprehensive analysis of the market state & scope. It suggests key strategic moves which can help enhance and accelerate adopting of MVAS. “M-commerce services stand to gain immense traction in India, if rural and sub-urban population and their needs and preferences are properly catered. For urban market, which is being driven largely by youth, players should develop visually appealing interactive and well organized m-commerce solutions”, said Kalyan.
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