As a society, we’re enamored with our mobile devices. They’ve changed the way we live, work, learn, travel, shop and stay connected and have led to an explosion in technological innovation and economic growth unmatched even by the industrial revolution.
A new report commissioned by Qualcomm from The Boston Consulting Group (BCG) aims to quantify its impact with facts and figures that may surprise you.
Last year alone, the mobile industry generated around $3.3 trillion in revenues. As such, it should come as little surprise that six of the 25 most valuable companies in the world – Alibaba, Apple, China Mobile, Facebook, Google and Verizon – earn revenue directly from mobile technology.
It’s not just the big companies that are basking in the rewards. Mobile technology has been directly responsible for creating 11 million jobs alone in the six countries that BCG studied – Brazil, China, Germany, India, South Korea and the United States.
What has it taken to get to this point? According to BCG, investments into infrastructure and technology reached $1.8 trillion between 2009 and 2013. Those involved in the industry will need to continue to invest heavily as we move forward and prepare for the transition from 4G to 5G wireless technology.
Fortunately, that’s exactly what’s expected to happen as investors are forecasted to spend roughly $4 billion in R&D over the next five years.