San Francisco, CA, USA
February 13, 2006Mobile
Commerce:
Dealing with the Devil in the Details
Report Published by Celent
Celent predicts that mobile phones will
become a more prominent vehicle for low value payments on a global basis,
with global mobile commerce revenues surpassing US$24 billion in 2006 and
$55 billion by 2008.
Mobile carriers and banks are now coming
together based on the same factors that have kept them apart in the past—mobile
adoption, technology standards, changing industry dynamics, and new
business interests. This will be the year of dealing with all the little
devils in the details that have come as a result of new, disruptive
business models that occur when a mobile medium is used for commerce. In
the US, mobile commerce will no longer be just about digital content. The
mobile phone will become a "wallet," allowing users to purchase
products with their phone. The technology is already well on its way in
Asia, and Celent predicts the mobile wallet will debut in the US in 2007.
Now, with the US mobile commerce market
alone approaching $3 billion in the coming year, content providers,
carriers, and handset makers are coming to terms with two unique and
disruptive aspects associated with mobile commerce:
- Unlike a desktop computer, the mobile
device is independent of time and place.
- Portability and accessibility can
transform the mobile device into a wallet that can be accepted at
the physical point of sale.
In a new report, Mobile Commerce:
Dealing with the Devil in the Details, Celent explores the burgeoning
market for mobile commerce. "Throughout the globe, the mobile phone
is becoming a fixture of everyday life as a source of communication,
entertainment, and, increasingly, commerce. Carriers, card associations,
device manufacturers, and banks are trying to strike the right economic
balance that will allow mobile phones to become a payment form factor at
the digital as well as the physical point of sale. In the North American
and European markets, telcos and banks may finally become bedfellows with
the help of third party technology platforms agnostic to all
parties," says Dan
Schatt, author of the report and senior analyst at Celent.
"The advent of near field communications technology standards will
certainly contribute to the growth of low value payments through mobile
phones and expand the mobile commerce market for all parties."
A table of
contents is available online.
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