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.