Worldwide mobility revenues are forecast to grow from $1.5 trillion in 2016 to more than $1.7 trillion in 2020, as per IDC.
This represents a compound annual growth rate (CAGR) of 2.2 per cent, or roughly $40 billion in annual revenue gains. Mobility revenues will primarily come from consumer and enterprise purchases of hardware (e.g., smartphones, portable PCs and tablets) and services (e.g. connectivity services). However, software revenues will experience double-digit growth over the forecast period as developers race to deliver applications that meet the mobility needs of both groups.
Carrie MacGillivray, Vice-President, Mobility & Internet of Things, said, “By 2020, the software market will increase spend by 15%, driven by mobile application development and mobile security capabilities.†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.
