China’s mobile market is expected to grow to be the largest in the world by 2012 according to research from Kapronasia. The research points to the Chinese market growing to reach 441 million users and worth over $80 billion.

China has already over grown the US to be the largest smartphone market globally, even though less than 10 percent of the domestic mobile market are currently using smartphones.

With the potential for strong growth in an under-saturated market and the release of new regulations, the Chinese m-payments market is set to rapidly accelerate in next year. Zennon Kapron, managing director at Kapronasia, said: “2012 will prove to be a crucial year for the mobile payments industry as Chinese authorities establish final technology standards.”