Mobile commerce is affecting global IT spending

New report shows that spending in the IT sector has changed due to the rise of mobile payments

The growing adoption of smartphones and tablets has powered the evolution of commerce. More consumers than ever before are now involved in mobile commerce, the process through which smartphones and tablets are used to shop for and purchase products, both online and in physical stores. A new report from Technavio shows that the growth of mobile commerce has changed spending habits in the global information technology (IT) market. More organizations in this market are focusing their investments on new technologies that can make mobile payments more convenient.

Report shows that companies are investing more in mobile technology

According to the report, the growth of the mobile commerce market has spurred companies to invest more heavily in mobile technology, such as NFC and Bluetooth. More companies are investing in new IT solutions to enhance their technological capabilities and allow them to engage mobile consumers more effectively. These IT solutions may help companies keep pace with the rapidly evolving mobile space, where consumers are often considered quite fickle and difficult to connect with.

Better data may help companies connect with their mobile customers more effectively

Companies interested in mobile commerce have begun to collaborate with companies like IBM and Oracle in order to better understand the needs of mobile consumers. These organizations are providing valuable analytical data that can help companies form better mobile services in the future. These companies are also beginning to invest more heavily in data security, which has been something that mobile consumers have been concerned with for several years.

Banks will be investing more aggressively in mobile commerce in the coming years

Technavio predicts that a substantial portion of the spending on mobile commerce solutions will come from the banking sector. Banks have been investing in digital solutions for years, hoping to provide mobile customers with the services that they need. With rising demand for mobile commerce support, many banks are beginning to feel pressure to adapt to a world that is becoming more mobile-centric.