Size of China's mobiles Internet market reached 44.49 billion yuan ($7.2 billion) during the second quarter of 2014, an increase of 104.1 percent year-on-year, according to a report released on Wednesday by iResearch, an Internet market research firm.

The firm attributed the huge growth in the second quarter to e-commerce companies' anniversary events and sales campaigns, promotion of mobiles shopping and recovery of mobiles Internet market. The subsequent new profit model and acceleration of commercialization will lead to a more bright future for mobiles internet market.

In the second quarter of 2014, mobiles shopping segment made up 50.8 percent of the mobiles Internet market as a whole. iResearch predicted mobiles shopping would keep its growth momentum in the near few years.

The report also said mobiles Internet is continuing booming and has become one of the most competitive sectors of the information industry. Competition among Internet giants will be more intensive, which leaves less market space for small companies.