Tag: asia-pacific

E-commerce is booming in India

Indian e-commerce market is growing rapidly, and mobile is playing a role in that growth

India has become the fastest growing e-commerce market in the Asia Pacific region, according to a new study from Gartner. The country has been seeing explosive growth in its digital commerce space, with a vast number of retailers and startups beginning to focus themselves on the digital world and engage mobile consumers more effectively. Mobile commerce has contributed to this growth in e-commerce, making India home to one of the most active mobile markets in the world.

Digital commerce market expected to reach $6 billion in revenue by 2015

According to the study, India’s e-commerce market is expected to reach $6 billion by 2015, experiencing a 70% increase over digital revenue this year. While digital commerce is still considered to be in a nascent stage in India, the country’s market is booming, much more so than its neighbors in the Asia Pacific region. Currently, e-commerce represents approximately 4% of the country’s total retail market, but this is expected to change in the coming years.

Smartphone penetration is growing and the demand for mobile shopping services is on the rise

e-commerce - IndiaA growing number of retailers are showing interest in mobile commerce. The number of people with smartphones in India is growing and they are beginning to favor shopping online over visiting physical stores. In order to connect with these consumers, retailers need to have a prominent presence in the digital world, which means that they are beginning to invest more heavily in the e-commerce space. Numerous startups have emerged to assist these retailers, offering mobile-centric services that are focused on e-commerce.

Digital commerce market is beginning to mature

As the digital commerce market matures, better services are expected to emerge. Retailers are still working to understand the demands that mobile consumers have, and as this understanding grows they will be able to offer better platforms and shopping experiences. Many mobile commerce organizations are beginning to break into the Indian market in order to take advantage of the growth of e-commerce, and they are bringing their popular platforms with them as well.

Geolocation technology based services to spike in Asia Pacific region

The use of this tech is estimated to grow from $1.57 billion, this year, to a tremendous $11.25 billion in 2019.

A recent report focused on the use of services that are based on geolocation technology has shown that the Asia pacific market is going to experience a massive amount of growth in this area.

The report was called the “Asia Pacific Location Based Services (LBS) market report” by MicroMarket Monitor.

The market for geolocation technology based services within the Asia Pacific region is going to experience a CAGR of 48.2 percent, said the report, which predicted a total this year of $1.57 billion, this year, but $11.25 billion in five years from now. This includes a full range of different types of services, including the mobile marketing techniques that are rapidly rising in popularity as it provides firms the opportunity to reach consumers at exactly the moments in which consumers are near a store, or even near a specific product within a store making ads relevant and hyper local.

That said, geolocation technology use goes a lot further than mobile marketing all on its own.

Geolocation Technology -  Asia PacificThe range of different uses that were included in within this report included navigation and travel, geo-social networking, real estate and retail searches, as well as location based marketing and advertising. As the number of smartphone users rises, these technologies that are typically compatible with the standard mobile device are being used by an even increasing range of applications.

The Asia Pacific region is, in fact, the area in which location based services are experiencing the highest growth in the world. Moreover, it also holds a 19.1 percent share of the entire global market for this tech, this year. This is, in part, because the governments of many of the countries in that region, including Japan and China, are greatly dependent on location based services in order to make supply chain management easier.

Moreover, as geolocation technology continues to advance and evolve, private organizations within this region have also been stepping into this area in order to help themselves with such issues as operational efficiency. It is expected that in five years from now, this region will hold a share of 27.8 percent of the global market, said the report.