Asia and Western Europe will take up more than 60 percent of the US$300 billion annual global mobile payment transaction value, for digital and physical goods, by 2013.
Western Europe is currently dominated by digital goods and services sold via SMS, whereas the Far East and China region (specifically Japan) is already well established in physical goods sales over the mobile web, and has been for a number of years.
That's according to a new analysis, by Juniper Research, of the mobile payments opportunity for transactions made via mobile phone for digital goods (such as music, tickets and games) and physical goods (typically gifts and books).
The mobile report focuses on payments that are made remotely via premium rate SMS, WAP billing, Mobile Web, Direct-to-subscribers' bill and direct to credit cards. The report covers payments for both digital goods such as music, games and ticketing as well as purchases of physical goods -- often gifts, books or consumer electronics.
Juniper Research says that the value of global annual gross transactions will grow more than five times by 2013. The ticketing segment, they say, will be driven by consumer usage on rail, air and bus networks plus sports and entertainment events. This will represent more than 40 percent of the global transaction value.
"Retailers should be evaluating the benefits of the mobile web, and be mindful of the success of regular ecommerce sites in generating sales," said report author, Howard Wilcox. "They need to move quickly to exploit the opportunity presented, and ensure that they maintain ease of use for their customers who are already familiar with web shopping from their PCs."