Smartphones will drive digital commerce, which in turn will increase transactions over the next five years and drive more than $730 billion worth of purchases online and in stores, according to a report from Juniper Research.
The U.K. research firm predicted in a report released this month that mobile payments are already increasing due to several factors.
"Transaction growth will be driven by the increasing scale of real-world (non-digital) purchases from major brands and retailers," said Juniper in a press release. "Companies such as Domino's in the U.S. and Argos in the UK already seeing 6-7% of all sales occurring via the mobile channel."
Juniper found that the development of this "couch commerce" trend would result in handheld and other mobile devices, such as those embedded in cars, accounting for 30% of "e-retail" within five years. However, it also observed that such transactions would continue to account for a minority of the global retail sales marketplace, which it says is currently worth more than $16 trillion.