Juniper Research has published a new study/forecast for the mobile payments and M-commerce industry that boasts some pretty strong estimates. The company predicts that the value of digital and physical goods that people buy with their mobiles will reach $200 billion globally by 2012, compared to just less than $100 billion this year.
Consumer intimidation and fear of overall security remain leading hindrances to its proliferation, but Juniper forecasts that those fears will continue to subside as the availability of secure, easy-to-use payment applications and industry regulation continue to evolve. Juniper also underlined that retailers and merchants need to communicate the cost of transactions clearly so that people are not discouraged from buying via mobile.
North America and Western Europe will lead the adoption of mobile commerce, the study suggests, and in that sense Juniper sees a “significant opportunity” for brands, retailers and merchants to increase their revenues through highly targeted marketing campaigns, using apps and mobile web payments as a convenience play for users. The study titled “Mobile Payments for Digital & Physical Goods: Players, Markets & Opportunities, 2010-2014,” can be downloaded here.