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High Levels of Mobile Penetration Relative to Banking Penetration Supports mCommerce Growth in the APAC Finds Frost & Sullivan - Market growth is supported by affordable smartphones, increased online retailing, and mobile operator partnerships with banks - Wireless.Frost.com
High Levels of Mobile Penetration Relative to Banking Penetration Supports mCommerce Growth in the APAC Finds Frost & Sullivan

 

NewswireToday - /newswire/ - Singapore, Singapore, 2014/07/22 - Market growth is supported by affordable smartphones, increased online retailing, and mobile operator partnerships with banks - Wireless.Frost.com.

   
 
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Numerous developing economies in Asia-Pacific (APAC) have low banking penetration rates, especially in the suburban and rural areas. In contrast, mobile penetration rates are impressively high, even crossing 100 percent in some countries. This has created opportunities for mobile operators to partner with banks, payment providers and merchants to develop new models of transactions. As a result, the mobile commerce (mCommerce) market mobile banking, mobile remittance, and mobile payment is expected to growth at a healthy rate over the medium term.

New analysis from Frost & Sullivan, Analysis of the APAC Mobile Commerce Market 2013, finds that the market earned US$76.17 billion in 2013 and expects this to grow to US$153.26 billion in 2017. In this research, Frost & Sullivan's expert analysts examine the following: mCommerce transaction value, mCommerce transaction breakdown, mCommerce as a percentage of eCommerce, mCommerce users, and the competitive landscape.

mCommerce has taken off in a big way due to the affordability of smartphones in emerging markets. The proliferation of smartphones has created additional forms of mobile payment channels that were not available in the past. For instance, prepaid credits in the account of mobile subscribers are being increasingly used as a medium of exchange in private peer-to-peer (P2P) and commercial transactions, even if the subscriber does not have an existing bank account.

Operators have begun to exploit the range of mobile technologies available to users and this, in turn, has allowed retailers to offer mobile shopping via mobile applications. These apps make product browsing, price comparison, reviews and payment modes more convenient than ever before.

Another important reason that mCommerce has found firm footing in APAC is the declining costs and form factors of sensors. The sensors in smartphones have the ability to capture real-time contextual information such as the location of subscribers, and eventually aid merchants with such data.

"Mobile operators could offer new services in conjunction with app developers and merchants to make relevant information available to consumers and thereby, capture valuable opportunities at the right time," said Frost & Sullivan ICT Senior Industry Analyst Serene Chan.

However, mobile payment currently lacks the interoperability of conventional payment modes such as credit and debit cards. The infrastructure of mobile payment in most retail outlets is inadequate, as there is no single mobile payment application that is common to all points of sale.

Until disparate functions are converged through a single platform for a seamless shopping experience, cash will continue to play a dominant role in micropayment in the mass market.

"Acknowledging the need for convergence, mobile operators and banking institutions are adopting a collaborative mobile payment model to achieve compatibility across platforms and devices for mass market adoption," noted Chan.

"Incorporating pre-sales marketing and after-purchase activities into the value chain process will also go a long way in changing consumers' existing payment habits," she added.

If you are interested in more information on this study, please send an email to Donna Jeremiah, Corporate Communications, at djeremiah[.]frost.com.

Analysis of the APAC Mobile Commerce Market 2013 is part of the Mobile & Wireless Communications (wireless.frost.com) Growth Partnership Service program. Frost & Sullivan's related studies include: Analysis of the Global Smartphone and OS Market, European M2M Outlook, 2013 North American Mobile Enterprise Application, Mobile Workforce Management Markets. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.

About Frost & Sullivan
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Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.

The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.

For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?

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Analysis of the APAC Mobile Commerce Market 2013 / P7A4-65

Contact: Melissa Tan, Corporate Communications Asia Pacific
P: +65 6890 0926 / F: +65 6890 0999 - E: melissa.tan[.]frost.com.

 
 
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High Levels of Mobile Penetration Relative to Banking Penetration Supports mCommerce Growth in the APAC Finds Frost & Sullivan

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Frost & Sullivan | mCommerce
Publisher Contact: Donna Jeremiah / Carrie Low - Frost.com 
+61(02) 8247 8927 / +603 6204 5910 djeremiah[.]frost.com / carrie.low[.]frost.com
 
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