Mobile Economy Growing Faster Than Expected - Worth Over $3 Trillion by 2017
Published on: 6th Feb 2014
The mobile economy is blooming at an even faster rate than expected by 2017 it will be valued at $3.1 trillion $200 billion more than the $2.9 trillion Yankee Group forecasted in October 2012.
This spike in potential earnings can be credited to all four mobile sectors -- devices, commerce, broadband, and apps and cloud -- seeing increased market interest.
The report predicts that mobile devices and mobile commerce sectors are growing quicker than previously forecasted, with expectations for mobile devices now reaching $919 billion and mobile commerce reaching $906 billion by 2017.
Although mobile broadband's market growth rate has begun to slow, it continues to represent the largest sector of the new mobile economy in raw terms and is expected to reach $1.121 trillion by 2017.
Mobile applications and cloud will continue to see significant growth as well, albeit at a slightly lower level than previously forecasted, reaching $145 billion by 2017.
"If we had to sum up the trends driving mobility in 2013 and beyond, we'd say we've entered the land of very big numbers (such as mobile line and smartphone penetration), and are nearing the threshold of very fast levels of network speeds and very high levels of acceptance of a wide range of mobile-first behaviors," said Karpinski.
"Big is good, of course, but brings with it significant challenges. As the mobile economy grows, early exponential growth turns to slow steady progress, separating out the flashes-in-the-pan from the true mobile stalwarts. As we move from the early days of mobility into maturity, companies in each of the core sectors of the new mobile economy -- networks, devices, commerce and apps -- face significant challenges."