With smartphone sales continuing to rise by 51 per cent every quarter, the mobile commerce market may grow by 55 per cent from its present size of $2 billion to $19 billion by 2019, a study said.
According to market research firm Zinnov, "Right from user research to product anytime and anywhere, smartphones are an emerging point of purchase and to address the demand from upcountry markets and changing consumer shopping pattern, e-commerce companies are increasing their focus on mobile commerce".
Zinnov survey found that over 91 per cent of the consumers had researched a product or service on their phone while online transactions on the smartphone platform rose between 30-50 per cent in the upcountry areas.
Further, it said 54 per cent of the consumers have purchased either a product or a service from their smartphones.
It opined that major e-commerce players like Flipkart and Quikr are serious about their plans to augment the m-comm platform. In 2014, 81 million units of the smart gadget were shipped to the country, a report from Economic Times quoting the survey said.
"Smartphones are already outpacing the growth of feature phones and are expected to show a massive 36 percent CAGR over the next five years making it to the 651 million mark by 2019... The unstoppable surge of smartphones in India continues with 29 percent of urban population with a base of 409 million users adding to its adoption," the report further said.