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IDC reports mobile payments to exceed $1 trillion by 2017

A recent IDC report estimates that total mobile device spending — driven largely by m-commerce — will exceed $1 trillion by 2017. As reported by Information-Age.com, the IDC Financial Insight’s Worldwide Mobile Payments 2012-2017 report presents a worldwide forecast of consumer and private sector spending via mobile networks, and sees major increases in m-commerce in the coming years. The report takes into account a range of purchases — digital and physical products and services, as well as direct fund transfers where no good or service is actually obtained. The IDC predicts that a bulk of the purchase volume, however, will likely stem from m-commerce — the purchase of digital media on a mobile device — and e-commerce via a mobile Web browser.

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