Mobile Business to grow 500% by 2016

Mobile Business to grow 500% by 2016

Mobile commerce business is one of the fastest growing businesses and that is why every companies including Google, Microsoft, and Apple is trying to stay ahead.

According to Forresters, report released on June 17, the mobile market is expected to reach $31 billion by 2016, which is 500% times of year 2011. So if you are looking for a growth, this is the business to be in.

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Forrester also reports that total e-commerce growth is expected to grow at a rate of 39% from 2011 to 2016 and mobile market is merely 7% of that.

While more consumers will purchase more products and categories on their mobile devices over time, retailer investment in the mobile channel continues to remain modest as companies struggle to value the ROI around mobile investments and they cautiously navigate many difficult questions such as how many devices to bet on, whether to partner with third parties, whether to develop an app, how to integrate mobile into store operations, and how to value the impact of mobile on overall sales.