mobile industry

Mobile Industry Leads Economic Growth As 4G/5G Networks Continues To Grow By 2025

According to the 2018 ‘Mobile Economy‘ report by the GSMA, 71 percent or nearly 2 thirds of the expected world population will be running on 4G and 5G networks by 2025.

Research shows that 53 percent of the global mobile connection will be using 4G. The report also shows the development of the Internet of Things (IoT) over the same period as the mobile industry continues to drive the social development and economic growth.

“As the mobile industry moves into the 5G era, the need for pro-investment, pro-innovation policies and modernized regulatory regimes has never been greater… Streamlined regulation and further policy developments in three main areas – spectrum, infrastructure, and economics – are key to realizing the full potential of 5G for consumers, society, and industry,” Mats Granryd, GSMA, Director General.

Mobile ecosystem continues to drive social and economic development

The mobile ecosystem is esteemed to have created 4.5 percent of global GDP in 2017, resulting in an additional economic value of $3.6 trillion. The study showed that it’ll reach $4.6 trillion by 2022, or 5 percent of the GDP, as several countries around the world continue to reap the benefits from the continuous improvement of mobile services and M2M/IoT solutions.

Image: Alibaba Group | Shopping is a Social Experience in China

The report also showed that mobile technology remains a driving force in addressing the issues with cost and quality of service in several key sectors such as utilities, agriculture, and financial services. The report highlights that the mobile industry continues to make an important contribution on several SDGs as a result of the following key trends: better networks, greater connectivity and increased use of mobile-enabled services.

Failure to provide a mobile-friendly shopping experience to customers may put businesses at a disadvantage, as mobile commerce continues to grow around the world. According to Mobile eCommerce Stats in 2018, 62 percent of smartphone users have made at least one purchase online using their smartphone devices in the past 6 months. The report also highlights that 10 billion mobile connected devices are currently in use and eCommerce dollars now cover at least 10 percent of all retail revenue.

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Editorial Note: This post is from a Company Press Release and may have been modified for clarity.

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