Skip to main content

Global Mobile Markets Revenue will Reach $1.67 Trillion

Worldwide mobility revenues are forecast to reach $1.57 trillion in 2017 -- that's an increase of 2.6 percent over 2016, according to the latest market study by International Data Corporation (IDC). Purchases of mobile hardware, software, and services will achieve a CAGR of 2.1 percent over the 2015-2020 forecast period -- eventually reaching $1.67 trillion in 2020.

Connectivity services will represent the largest category of mobility spending in 2017. Combined, connectivity and hardware will deliver more than 95 percent of all mobility revenues this year, with roughly two thirds coming from the consumer market.

Most of the remaining revenues will come from enterprise purchases of mobility services, applications, application development platforms, and security.

Global Mobile Market Development

Although hardware and services dominate mobility spending overall, apps and application development platforms represent the fastest growing areas of mobility with five-year CAGRs of 17.3 percent and 20.3 percent respectively.

"Mobility has moved from niche and novelty usage in business to a core end-user computing technology for enterprise workforces," said Phil Hochmuth, program director at IDC. "While devices and apps transform how workers do their jobs, mobile app platforms and services create entire new business models and customer interaction opportunities."

Banking, discrete manufacturing, and professional services will be the three commercial industries making the largest mobility investments in 2017 ($166.3 billion combined) and throughout the forecast period.

All three industries will make significant investments in application development platforms, applications, and the enterprise mobility services that support the planning, development, and final consumption of services through a mobile device.

The telecommunications industry will deliver the fastest spending growth over the 2015-2020 forecast period (4.2 percent CAGR), followed by process manufacturing, healthcare providers, and construction. Consumer mobility spending is forecast to deliver a CAGR of 2.5 percent.

Small offices with 1 to 9 employees will deliver the largest share of global mobility revenues, as these businesses purchase mobile devices, connectivity services, and mobility services as an affordable alternative to traditional IT solutions. Small offices will also deliver the fastest spending growth with a five-year CAGR of 2.6 percent.

Large and very large businesses (more than 500 employees) will invest more than $2.7 billion this year in mobile application development platforms and mobile applications as they seek to enhance worker productivity and provide new capabilities to customers and partners.

Outlook for Mobile Communications Growth

From a regional perspective, Asia-Pacific (excluding Japan), led by strong investments in China, will be the largest overall mobility market in terms of revenues, which are forecast to exceed $500 billion in 2018.

The U.S. market represents the second largest region, followed by Western Europe. Latin American is forecast to deliver the fastest revenue growth (4.1 percent CAGR) while Asia-Pacific (excluding Japan) and the Middle East and Africa (MEA) will also see revenue growth greater than the overall market.

Popular posts from this blog

Industrial and Manufacturing Technology Growth

In an evolving era of rapid advancement, market demand for innovative technology in the industrial and manufacturing sectors is skyrocketing. Leaders are recognizing the immense potential of digital transformation and are driving initiatives to integrate technologies into their business operations.  These initiatives aim to enhance efficiency, reduce costs, and ultimately drive growth and competitiveness in an increasingly digital business upward trajectory. The industrial and manufacturing sectors have been the backbone of the Global Networked Economy, contributing $16 trillion in value in 2021. Industrial and Manufacturing Tech Market Development   This growth represents a 20 percent increase from 2020, highlighting the resilience and adaptability of these sectors in the face of unprecedented challenges, according to the latest worldwide market study by ABI Research . The five largest manufacturing verticals -- automotive, computer and electronic, primary metal, food, and machinery -

Rise of AI-Enabled Smart Traffic Management

The demand for smart traffic management systems has grown due to rising urban populations and increasing vehicle ownership. With more people and cars concentrated in cities, problems like traffic congestion, air pollution, and greenhouse gas emissions are pressing issues. Since the early 2000s, government leaders have been exploring ways to leverage advances in IoT connectivity, sensors, artificial intelligence (AI), and data analytics to address these transportation challenges. The concept of a Smart City emerged in the 2010s, with smart mobility and intelligent traffic management as key components.  Smart Traffic Management Market Development Concerns about continued climate change, as well as cost savings from improved traffic flow, have further motivated local government investment in these advanced systems. According to the latest worldwide market study by Juniper Research, they found that by 2028, smart traffic management investment will be up by 75 percent from a 2023 figure of

AI Software Market will Reach $251 Billion

The growth in Artificial Intelligence (AI) software could lead to many benefits. As more organizations adopt AI, they may become more efficient, productive, and able to offer improved products and services. The global job market could also expand, with demand growing for roles like AI engineers and technicians. Plus, AI apps could enable breakthroughs in fields like healthcare, transportation, and energy. The worldwide AI software market will grow from $64 billion in 2022 to nearly $251 billion in 2027 at a compound annual growth rate (CAGR) of 31.4 percent, according to the latest market study by International Data Corporation (IDC). AI Software Market Development The forecast for AI-centric software includes Artificial Intelligence Platforms, AI Applications, AI System Infrastructure Software (SIS), and AI Application Development and Deployment (AD&D) software (excluding AI platforms). However, it does not include Generative AI (GenAI) platforms and applications, which IDC recent