Mobile retail to generate over USD 63 billion revenue by 2010

^{Juniper Research} Mobile retail to generate over USD 63 billion revenue by 2010

29 Jan 2006 at 07:46 GMT Timo Poropudas

Revenues from mobile ticketing and mobile retail services will assist the global mobile commerce market by generating over USD 63 billion worth of revenue by 2010, according to a new report from Juniper Research.

Mobile phone users, familiar with purchasing digital content such as ringtones and games, equipped with smart phones and accessing the mobile Internet via faster mobile data networks will increasingly use their devices for mobile commerce.

The report reveals that innovative use of technology such as mobile barcodes and integrating RFID into a mobile device coupled with consumer demand for easy to use applications is driving up the adoption of mobile ticketing and mobile retail services.

By 2010, 32 percent of Japanese mobile users will be buying tickets using a mobile phone, the report predicts.

By 2010, 87 million European mobile users (15 percent of total) will be using their mobile devices to buy tickets as the use of mobile barcodes is revolutionising the way we purchase and store tickets.

Juniper predicts that there will be sufficient consumer demand, adequate payment schemes available and enough retailers supporting these schemes to see worldwide mobile payment revenues reach over USD 10 billion by 2010.

Report author Alan Goode said: “The modern mobile phone and mobile network provides unparalleled levels of commercial potential. We are now beginning to enter the mCommerce era – and this era will see all of its expectations met.”