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Mobility industry (voice and data) is a
part of telecommunications industry that constitutes of mobile and telephone services
providers. The services include voice and data services through various
platforms. The credit for modern evolution of mobile and services goes to the
technology and internet service providers. This has also played an important
role in evolving the human society and making a more modern and up to date
culture. Generation Z is the biggest consumer of mobile and data services as
they readily use internet data for a variety of purposes. The factor that has
played an important role in making the calling cheap is also the evolved
mobility as even the voice calls are also facilitated through the interest on
Voice over Internet Protocol (VoIP) platform.
The global mobility services market is
growing rapidly due to rapidly spreading technology in almost every part of the
world. The global mobility
industry trends suggest that the market is expected to attain
the global mobile subscriptions of approximately 9.7 billion. The penetration
of the global mobility industry is also expected to grow from the current 65
percent to 73 percent. Europe and North America are highly mature markets that
are steadily reaching a saturation point in the mobility services penetration.
APAC, which is also a semi-developed region consists of a few developed markets
such as Australia, Japan, and South Korea. On the other hand, markets such as
China, India, Myanmar, Indonesia, Bangladesh, and Vietnam are the developing
regions. Due to high subscriber rates in the past decade, the subscriber rates
are also going down on a global level. The reason for such a slowdown is that
the 70 percent global population is already connected to the mobility services
and this ratio is expected to grow even more in the next 5 years.
The
top 5 Trends in the Mobility Industry:
Here is a look at the top 5 industry
trends.
1. The global mobility industry is expected to
grow bigger in the next 4-5 years. However, the growth will not be as fast as
it was. Considering the adoption of the technology, the global 3G and LTE
coverage has also crossed the ratio of 90 percent and 55 percent respectively.
2. Being a mature market, North America will
witness saturation in the market due to a decline in the revenue from voice
calls. However, the loss is supposed to be compensated through internet traffic
and consumption. The region is expected to lead the 5G mobile subscription by
2020.
3. The demand for Over-The-Top (OTT) application is
rising on a global level. Applications such as Whatsapp, Viber, Skype, Google
Voiceover, and Facebook Messenger have gained huge popularity and virtually
replaced traditional voice calls in many global regions. These apps are driving
the growth in the global mobility market.
4. The demand for cloud-based solutions is also
increasing and the reasons are the emergence of Data-Specific Internet of
Things (IoT), big data, and data science.
5. The mobile traffic is also getting higher in
demand. Sharing of video/audio files and other forms of media through different
platforms has drastically increased and it has pushed the need for even higher
internet speeds.
The mobility industry has already grown
huge and it will continue to grow at a steady pace over the next 5 years. The
reasons are new emerging technological trends such as 5G and supporting
technologies such as Data science and big data analysis.
