Mobility spending is forecast to reach $1.63 trillion in 2018 and $1.8 trillion in 2022, according to IDC.
IDC expects mobility spending will achieve 2.8 percent CAGR over the 2017-2022 forecast period.
Top mobility spending markets in 2018
United States $300 bn plus
China $300 bn plus
Japan nearly $107 bn
India $51 bn
Brazil $44 bn
United States will be spending $300 billion plus towards mobility, followed by China with $300 billion plus, Japan nearly $107 billion, India with $51 billion and Brazil with $44 billion in 2018.
Consumers will provide more than 70 percent of mobility spending throughout the forecast with slightly more than half of this amount going toward mobile connectivity services and most of the remainder going toward devices, mainly smartphones.
Professional services industry will be the worldwide industry leader for mobility spending in 2018 at $44.9 billion.
Banking industry will be spending $44.5 billion on mobility this year.
Discrete manufacturing, retail, and education will round out the top 5 industries this year. More than half of industry mobility spending (and nearly three quarters for the professional services industry) will go to connectivity services and enterprise mobility services.
While mobile devices will be the second largest area of spending, most industries will also make considerable investments in mobile applications and mobile application development platforms.
Mobility spending over 2017-2022
Discrete manufacturing 5.9% CAGR
Utilities 5.9% CAGR
Telecommunications 5.8% CAGR
Process manufacturing 5.7% CAGR
Healthcare 5% CAGR
“While the overall mobility market matures, with less device and platform differentiation, the use cases for mobile devices and apps in the enterprise continue to expand,” said Phil Hochmuth, program director, Enterprise Mobility at IDC.
Mobility services will be the largest area of spending throughout the 2017-2022 forecast, surpassing $1 trillion in 2021.
Hardware will be the second largest technology category with spending forecast to reach $738 billion in 2022.
Software will see strong spending growth (12.9 percent CAGR) over the five-year forecast. Mobile enterprise applications will be the largest category of mobile software spending, growing to nearly $8.0 billion in 2022.
Businesses will also increase their development efforts with mobile application development platforms experiencing a five-year CAGR of 15.1 percent.
India will see the fastest growth in mobility spending with a five-year CAGR of 7.9 percent, said IDC. Venezuela and the Philippines will also have CAGRs greater than 7 percent while three countries – Israel, Taiwan, and Saudi Arabia – are forecast to experience a decline in mobility spending over the next five years.