The value of remote transactions for digital and physical goods purchased via mobile devices is expected to exceed $730 billion annually by 2017, according to a new report from Juniper Research.
The report, “Mobile Payments for Digital & Physical Goods: Opportunity Analysis 2012-2017,” projects that transaction growth will be driven by the increasing scale of real-world (non-digital) purchases from major brands and retailers, with companies such as Domino’s in the U.S. and Argos in the U.K. already seeing 6-7% of all sales occurring via the mobile channel.
The report also notes that as consumer tablet adoption continues to rise, there will be significant migration of purchasing activity from laptops and desktops to tablet devices. Additionally, digital goods sales are rising in tandem with smart phone/tablet growth.
As expected the report notes that transaction security remains an issue for consumers, despite the dramatic increase in sales.
Check out the report here.