Mobile Commerce Growth (2017–2028)
With the number of smartphone users worldwide rising year after year and a growing dependence on online shopping, it should come as no surprise that mobile commerce is also becoming increasingly popular.
The latest mobile commerce statistics show rising annual revenues, as global consumers turn to their smartphones for purchases. Here’s a look at some key mobile commerce growth figures in recent years and a forecast.
Mobile commerce growth: table
|
Year |
Global mobile commerce revenues |
Annual change |
Share of total retail ecommerce |
|
2017 |
$500 billion |
40% |
|
|
2018 |
$660 billion |
+32.0% |
43% |
|
2019 |
$810 billion |
+22.7% |
46% |
|
2020 |
$1.10 trillion |
+35.8% |
48% |
|
2021 |
$1.40 trillion |
+27.3% |
49% |
|
2022 |
$1.48 trillion |
+5.7% |
52% |
|
2023 |
$1.71 trillion |
+15.5% |
54% |
|
2024 |
$2.07 trillion |
+21.1% |
57% |
|
2025 |
$2.51 trillion |
+21.3% |
59% |
|
2026 |
$2.74 trillion |
+9.2% |
60% |
|
2027 |
$3.02 trillion |
+10.2% |
62% |
|
2028 |
$3.35 trillion |
+10.9% |
63% |
Growth of mobile commerce: 2017–2024
Mobile commerce sales worldwide are projected to reach $2.07 trillion in 2024—21.1% more than the $1.71 trillion recorded in 2023. This year also marks the first time revenues are expected to surpass $2 trillion, representing 57% of total ecommerce sales.
The growth of mobile commerce this year marks an acceleration from the previous two years and is expected to be even larger than the average annual growth rate of 19.2% forecast from 2017 to 2028. This is made more impressive when considering the fact that mobile commerce sales in 2024 will have more than quadrupled since 2017. That year, total revenues from mobile commerce amounted to $500 billion.
Future of mobile commerce: 2025–2028 revenue forecast
With the number of smartphone users currently at 4.88 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 2028. That year, analysts expect mobile commerce sales to total $3.35 trillion, after having crossed the $3 trillion milestone the previous year. Revenues from purchases on mobile devices are also anticipated to account for 63% of overall ecommerce sales. In other words, more than $3 out of every $5 spent on shopping online in 2028 will be transacted through a mobile device.
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.
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.