This IDC Financial Insights report presents a worldwide forecast of consumer and business spending over mobile networks from 2012 to 2017. IDC forecasts that by 2017 worldwide purchase volume over mobile devices will exceed $1 trillion. Most of this volume will be in the form of mobile commerce, which includes digital media consumed on the device as well as ecommerce through a mobile Web browser. Although NFC payments are still limited to a few countries in the Asia/Pacific region, we forecast rapid growth driven by handset and point-of-sale terminal upgrades.
According to Aaron McPherson, practice director, Worldwide Payment Strategies at IDC Financial Insights and the lead author of the report, "The growing prevalence of smartphones is enabling a variety of mobile payment methods, which combined are becoming a significant share of global commerce. We expect growth rates to continue to accelerate as consumers and retailers become more comfortable with the technology."