• by Chuck Martin , Staff Writer, August 13, 2014

With lots of money passing through mobile commerce, there’s also a large amount behind the scenes flowing into it.

I’m talking about the investment activity and specifics of where the money is flowing.

Inside a lengthy report on overall digital activity are some interesting insights into the mobile commerce aspects of the deal flow.

Overall mobile internet revenue is projected to grow more than three times to $700 billion in three years, according to the Mobile Internet Investment Review by Digi-Capital. And that revenue is dominated by mobile commerce.

Mobile commerce growth is projected to hit $516 billion, driven by Asia, America and Europe, according to the report. Here’s the breakdown of mobile internet revenue growth:

• $516 billion – mCommerce
• $74 billion – Consumer apps
• $53 billion – Enterprise mobility
• $42 billion – Mobile Web ad spend
• $11 billion -- Wearables

Clearly, the largest chunk of mobile money is in commerce.

Consumer app revenue is expected to pass $70 billion by 2017 with non-games apps to double revenue share to more than half (51%).

The magnitude of the revenue explains some of the high interested in investments in the commerce arena.

This picture helps explain the corresponding growth in investment dollars flowing into mobile.

From one year ago, venture capital investment growth is pegged at 269%, with the most significant growth this past quarter, according to the report.

Overall mobile internet investments passed $14 billion in the last 12 months.

The most money, in billions of dollars, went to travel, utilities and, you guessed it, mobile commerce.

The money knows where the action is.