There’s money – big money – in mobile commerce.
While mobile internet revenue is growing rapidly across the board, commerce dominates, based on a new study.
Mobile internet growth is projected to pass $700 billion in sales within two years, with mobile commerce accounting for more than $500 billion of that, with the largest markets being the U.S., Europe and Asia.
For context, mobile ad spending is projected to reach $42 billion during that same timeframe, based on the new Mobile internet Investment Review by Digi-Capital.
Mobile commerce, comprising all sales via smartphones and tablets, is projected to grow from $133 billion in 2013 to $516 billion within two years.
Here’s the breakdown of mobile internet revenue projected for 2017 by Digi-Capital:
The overall mobile internet revenue growth is more than three times the spending in 2013.
There’s also big growth in consumer apps, to more than $70 billion by 2017, with non-game apps doubling revenue share from 26% to 51%. That’s up from $21 billion in 2013.
There’s also a lot of money behind the scenes, with mobile internet investments passing $32 billion last year, according to Digi-Capital.
Some investors also have cashed out along the way, to the tune of $90 billion last year alone.
Google leads in app downloads, accounting for 20% of downloads compare to 17% for Apple devices.
It’s been common saying for some time that there’s money in mobile.
But there is serious money in mobile commerce.