This project describes m-business with respect to market, technology and applications with a view to demonstrating its current and future trends. From a market perspective it can be concluded that the driving force lies in the convergence of fixed line with wireless Internet, resulting in the evolution of m-Business, i.e., a new means of conducting business. Such a complex and innovation driven market environment creates new rules in the m-business value chain. By overcoming existing technological and cultural limitations and barriers, players deploy new business and revenue models which are based on alliances and partnerships in order to develop and implement value propositions which meet customers’ needs, while at the same time minimise or share among them the associated risk. Various mobile network technologies have been considered with regard to standards, range, and content delivery. The advent of 3G network technology promises to deliver unique applications and services in many areas of everyday life, such as banking, broking, entertainment, and payment. Perhaps the most promising area of application is in the Mobile (or Location) Based Services, an entity that applies to both B2C and B2B market segments. At the same time, legal concerns are raised against the proper use of sensitive personal data, such as privacy, security and location awareness.