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Worldwide Purchase Volume Over Mobile Devices will Exceed $1 Trillion by 2017, According to IDC Financial Insights

IDC PMS4colorversion no shadow 300x98 Worldwide Purchase Volume Over Mobile Devices will Exceed $1 Trillion by 2017, According to IDC Financial Insights

IDC Press Release

Forecast only a small fraction of total amount of worldwide commerce addressable by mobile payments

FRAMINGHAM, MA – IDC Financial Insights today announced a new report, “Technology Selection: Worldwide Mobile Payments 2012-2017 Forecast” (Document FIN237814), which presents a worldwide forecast of consumer and business spending over mobile networks from 2012 to 2017. According to the new research, by 2017, worldwide purchase volume over mobile devices will exceed $1 trillion. Most of this volume will be in the form of mobile commerce, which includes digital media consumed on the device as well as ecommerce through a mobile Web browser. Although NFC payments are still limited, IDC Financial Insights forecasts rapid growth driven by handset and point-of-sale terminal upgrades. While the resulting forecast is large in dollar terms, it is a tiny fraction (just above 2.5% in 2017) of the total amount of worldwide commerce that is theoretically addressable by mobile payments.

For the full release click here