Skip to main content

Mobility Solution Revenue will Reach $1.7 Trillion in 2020

Worldwide mobility revenues are forecast to grow from $1.5 trillion in 2016 to more than $1.7 trillion in 2020, according to the latest market study by International Data Corporation (IDC). That's a compound annual growth rate (CAGR) of 2.2 percent -- or about $40 billion in annual revenue gains.

Mobility revenues will primarily come from purchases of hardware and connectivity services. However, software revenues will likely experience double-digit growth, as app developers meet the mobility needs of both consumers and businesses.

Software revenue growth will result from investments in mobile application development platforms, new mobile enterprise use cases, and mobile enterprise security solutions. By 2020, spending on software will increase by 15 percent, driven by mobile DevOps and mobile security capabilities.

Mobility Solutions Market Development

"Despite the belief that the mobility market is maturing, there is still plenty of opportunity to drive enterprise spend especially at the software layer," said Carrie MacGillivray, vice president at IDC. While more than half of all mobility revenues are generated by consumer spending, a number of industries are making significant investments in mobility products and solutions.

The banking industry is leading the way at the worldwide level with mobility investments forecast to surpass $100 billion by 2020. Discrete manufacturing, professional services, and retail are the next largest industries in terms of mobility investments.

According to the IDC assessment, the industry that will deliver the fastest revenue growth over the 2015-2020 forecast period is healthcare (5.1 percent CAGR), followed by telecommunications, professional services, and utilities.

Within the U.S. market, while the healthcare provider industry is still expected to be among the top 5 growth areas for mobility, spending is starting to temper. However, there is more growth in the securities and investment services industry, where mobility projects are focused on enabling more productivity.

Outlook for Mobility Applications Growth

From a company size perspective, large and very large businesses will see spending growth that surpasses the overall market. These firms will be investing in mobile solutions that provide new capabilities to customers and partners.

IDC expects small offices with 1 to 9 employees to continue delivering the largest share of global mobility revenues, as these businesses invest in a variety of mobile devices and apps, as an affordable alternative to traditional desktop IT solutions.

The Asia-Pacific region (excluding Japan) -- led by strong investments in China -- will be the largest overall mobility market in terms of total revenues, which are forecast to exceed $500 billion in 2020.

The United States represents the second largest region, and the region with the strongest growth forecast, with a 4.7 percent CAGR. Latin American and the Middle East and Africa will also see revenue growth greater than the overall market.

Popular posts from this blog

Big Data Analytics Revenue to Reach $215.7 Billion

Across the globe, more leaders seek actionable insight from the customer data they've stored in huge data lakes. Worldwide spending on big data and business analytics (BDA) solutions is forecast to reach $215.7 billion in 2021 -- that's an increase of 10.1 percent over 2020, according to the latest worldwide market study by International Data Corporation (IDC). Moreover, BDA technology investment will likely gain momentum over the next five years as the global economy recovers from the COVID-19 pandemic. The compound annual growth rate (CAGR) for global BDA spending over the 2021-2025 forecast period will be 12.8 percent. Big Data Analytics Market Development "As executives seek solutions to enable better, faster decisions, we're seeing relatively healthy BDA spending across all industries. Leveraging data for insights into everything from internal business operations to the customer journey is top of mind and of strategic importance," said Jessica Goepfert, vice

Remote Working Drives Demand for Internet Access Solutions

High-speed internet access from home is essential to participate in the Global Networked Economy. The worldwide residential broadband service market reached a subscriber base of over 1.1 billion users in 2020 -- that's a 4 percent increase from the previous year. Clearly, the COVID-19 pandemic accelerated demand for broadband connectivity. The need for high-capacity residential broadband will remain, even post-pandemic. According to the latest worldwide market study by ABI Research, 5G Fixed Wireless Access (FWA) will be the fastest-growing residential broadband segment to increase at a CAGR of 71 percent, exceeding 58 million subscribers in 2026. Remote working, online learning, and virtual healthcare created new demand for high-speed broadband throughout 2020. The significant increase in the use of internet-based entertainment services also prompted broadband users to upgrade, while more households without broadband access subscribed for the first time. Residential Broadband Serv

Warehouse Robot Deployment Gains New Momentum

The retail and wholesale back-office infrastructure market is being transformed by technology. The warehousing industry has accelerated automation efforts due to the increased order volume and labor shortages driven by the global pandemic. In addition to technology solutions such as handheld devices with enhanced capabilities, autonomous, collaborative, and mobile robots are proving to be the fastest-growing productivity-enhancing solution in the warehouse workspace. Commercial Robotics Market Development According to the latest worldwide market study by ABI Research, global commercial robot revenue in warehouses will have a Compounded Annual Growth Rate (CAGR) of over 23 percent from 2021 to 2030 and exceed $51 billion by 2030. "Mobile robots are at the heart of the warehouse robotics market and account for most shipments and revenue. These robots, made up of Autonomous Guided Vehicles (AGVs) and Autonomous Mobile Robots (AMRs), are being used to move goods within the warehouse a