Mobility industry is same as the two sides of a coin. One is voice and the other is internet data. It’s a part of the telecommunications industry which is governed by Information and Technology (IT) industry. However, with the aggressive use of mobile technology in the majority of aspects has made it a separate industry and it runs with its own dynamics. Talking about the industry revenue, traditional phone calls or Voice Protocols (VP) has been the biggest source of revenue in the past decade but the industry has evolved and the internet has taken over in the VP aspect as well. Voice over Internet Protocol (VoIP) has replaced the traditional VP and call charges have dropped drastically. In addition, text messages facilitated by different platforms such as Whatsapp, Facebook Messenger, Skype, etc. have also impacted the industry as the people now prefer texts over call for everyday conversations.
Globally, the mobility industry has separated itself from telecommunications industry as it has integrated to the IT industry. The global mobility industry has shown high growth in the past decade and it is reaching a saturation point in the mature markets such as North America and Europe. The mobility industry trends suggest that the market is likely to obtain approximately 9.7 billion mobile subscriptions on a global level. The market has already penetrated the majority of regions in the developed, semi-developed, and underdeveloped global regions and the penetration is expected to grow from present 65 percent to 73 percent in the coming years. However, both North America and Europe that are high maturity markets are going through a phase of saturation where the industry has already penetrated the majority of local markets.
Risk Analysis Regarding a Business in the Mobility Industry:
Since the mobility industry relies largely on the technology for its growth and market penetration, industry dynamics shift as per the technological innovations. Therefore, keeping your business risk-free in the mobility industry depends on the immersion of the technology and associated factors. Take a look at the risk analysis of the mobility industry.
- The global mobility industry is expected to grow even more in the next 5 years due to the emergence of 5G technology. Highly mature markets that are already saturated regarding the current mobility technologies will lead the 5G revolution. Regions such as North America and Europe are likely to grow with the maximum pace with 5G technology. This will reduce the risk for the enterprises as they can focus on integrating and delivering the new tech to the consumers.
- The IT industry is growing with each passing day and solutions such data-Specific Internet of Things (IoT), big data, and data science is causing positive disruptions in the industry. The buyers are also pushing for the availability for such solution on the mobile platform for increased accessibility and convenience. Such a situation will force the suppliers to create mobile-specific solutions and stabilize the overall industry landscape.
- The risk for traditional services suppliers has increased a lot as the industry is becoming more reliant on the internet and satellite services. The traditional VP is already diminishing due to the emergence of different messaging platforms. Video/audio files and similar multimedia has become a major medium of communication and the need for traditional calls has marginalized.
Like any other industry, mobility industry also has its dynamics that rely on technology for growth and market penetration. With the widespread use of technology, the industry is running smoothly and the risk factors have also reduced significantly. Such a scenario is expected to continue for at least a few years in the near future.