The global mobile commerce market is projected to grow from $116.1 billion to $467.3 billion over the next 5 years, according to a new report from MarketsandMarkets. North America and Europe are forecasted to have the largest markets in terms of revenue contribution, while Asia-Pacific and Middle East-Africa will experience significant increased market traction during this period. Data indicates m-commerce growth will result from increased use of smartphone, tablets, mobile devices, BYOD and internet-enabled devices. However, such growth will be met with significant challenges, like securing personal data, application and network infrastructure, and intense competition. This evolution of the mobile application infrastructure, cross-platform communication methods and the familiarity of people with mobile applications suggests a prosperous future for m-commerce services.