The overall mobility industry to add US$40 billion revenue every year

The mobility market is of both hardware and software. The hardware industry consisting of notebook/laptop and smart Phones are not seeming to have high growth and in fact desktop market is going down. But if you look at the total mobility market, the things are very optimistic, as per the latest IDC analysis. The total mobility revenues are forecasted to grow from US$ 1.5 Trillion by 2016 to more than US$ 1.7 trillion by 2020, as per latest findings by IDC. While growing at CAGR of 2.2 % this basically gives US$40 billion annual revenue gains to overall industry. If you look at the domains where the revenue growth is happening, it’s not really in the hardware, it is basically from the services and the software. Software revenues are expected to grow double digit over the forecast period as per the IDC. The strongest growing area in the software is in the mobile application development platform and also mobile applications for enterprise usage. "Despite the belief that the mobility market is maturing, there is still plenty of opportunity to drive enterprise spend especially at the software layer," said Carrie MacGillivray, vice president, Mobility & Internet of Things. "By 2020, the software market will increase spend by 15%, driven by mobile application development and mobile security capabilities." The consumers are spending money continuously on mobil...