Mobile Commerce Sales (2018–2027)
Mobile commerce sales: 2018–2027 forecast
Mobile commerce sales worldwide are projected to reach $2.52 trillion in 2024—16.3% more than the $2.16 trillion it registered in 2023.
The growth of mobile commerce this year marks an acceleration from the previous two years and is even expected to be larger than the average annual growth rate of 15.3% forecast from 2018 to 2027. This is even more impressive considering the fact that mobile commerce sales in 2024 have more than doubled since 2019.
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With the number of smartphone users currently at 4.74 billion and growing, as far as trends go, there’s nothing to indicate that mobile commerce growth will stop anytime soon. In fact, mobile commerce sales are set to continue rising through to at least 2027. That year, analysts expect mobile commerce sales to total $3.44 trillion, after having crossed the $3 trillion milestone the previous year.
Plus, the total time spent on mobile devices has also been on the rise. In the US alone, the amount of time spent on mobile devices every day by consumers has increased from 225 minutes in 2019 to 279 minutes in 2024. This marks a 24% increase in just five years.
Incidentally, mobile commerce share figures have also been on an upward trend. The share of mobile ecommerce sales in total ecommerce sales has increased by four percentage points from its 56% market share in 2018 to the 60% market share forecast for 2024. In other words, $3 out of every $5 spent on online purchases this year is done so through a mobile device.
Factors driving mobile commerce growth
Mobile commerce growth can be attributed to the convenience of mobile shopping. The increase in mobile payment options is proving to be a huge boost for customers’ mobile experience. In fact, three out of four consumers say they carry out purchases on their mobile devices because it saves time.
However, there’s always room for improvement. As many as 90% of shoppers say that their experiences with mobile commerce could be better. The two most common concerns hindering mobile shopping are pages and links that are too small to click on and security issues. At least half of shoppers also indicate that they would like online retailers to provide more product reviews and information.
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