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  Business   M-commerce set to overtake e-commerce

M-commerce set to overtake e-commerce

AGE CORRESPONDENT
Published : Jan 29, 2016, 2:38 am IST
Updated : Jan 29, 2016, 2:38 am IST

May grow from 2-4% currently to 15-20%: Study

May grow from 2-4% currently to 15-20%: Study

M-commerce (mobile) is expected to overtake e-commerce in the country, mobile ad spends is expected to grow from current 2-4 per cent to 15-20 per cent and used smartphones market will touch $1.7 billion according to the 6th edition of Deloitte India’s predictions for the Technology, Media & Telecommunications (TMT) sector in India.

It also highlights that the boom in m-commerce will be powered by social media, and is likely to become the need of every business. Mobile advertising in India is the fastest growing among all segments in the digital advertising space, and is gaining momentum through various apps and mobile sites says the report.

“With telecom operators launching 4G and hi-speed Wi-Fi services, mobile-based internet connections are set to surge which will also fuel growth in social media users,” said P.N. Sudarshan, senior director, Deloitte India.

The market for pharma e-commerce will grow 10 times to $400 million in 2017 as medicine e-commerce players would look to take advantage of the inefficient distribution system leading to non-availability of medicines and the issue of counterfeit drugs which currently plague the existing physical pharmacy business.

Deloitte predicts that in 2016, digital wearables would have experienced a significant adoption across consumer segments though it would primarily emanate from tier 1 and 2 cities in India. Fitness trackers and smart watches will see mass adoption in the coming years and it expects safety devices geared towards location tracking and emergency assist to also see significant adoption.