Tag: mobile technology news

Mobile technology in China is fueling innovation

At the moment, this industry makes up about 4 percent of the gross domestic product of that country.

According to a report that has been recently published, mobile technology makes up approximately 4 percent of the gross domestic product of China, as the country now has enough innovators within that industry to include itself among the highest in the world.

Around the globe, only the United States and South Korea have more mobile tech inventors than China.

This, according to a report that was issued by the Boston Consulting Group. It also stated that beyond mobile technology, China is watching a considerable increase in its community of app developers. It has been estimated that there are about 1 million people who are currently employed within the rapidly growing mobile application field. This is over twice the number of people who are working in that field in the United States.

It is clear that China has stepped onto the wave of mobile technology and plans to continue to ride it.

Mobile Technology - InnovationAccording to the report, “China has become a highly competitive place to import and assemble components into finished products, allowing the country to tap into its strong manufacturing base.” At the moment, the report says that the mobile tech sector in the country represents 3.7 percent of the country’s GDP. Moreover, its compound annual growth rate from 2009 through last year was recorded to be 17.7 percent.

The report stated that on a global scale, the mobile tech revolution is headed toward the next trillion dollar market. As the largest smartphone market, China has been rapidly improving its market share in areas that have higher value. The report also included the results of a survey that included the participation of 7,500 individual customers, as well as 3,500 small and mid-sized companies. The participants – both business and individuals – were from six different countries, including the United States, China, and India.

The mobile technology report expressed that “With the success of companies in the device space, as well as telecom equipment manufacturers, Lenovo Group Ltd.’s recent acquisition of Motorola has further strengthened China’s capabilities in mobile innovation.”

Mobile technology brought in $3.3 trillion, last year

People are hooked on smartphones and a new report has shown that those monthly bills are adding up.

A recent report issued by Boston Consulting Group has shown that consumers love their mobile technology and those from developed countries (the United States, Germany, and South Korea) are currently paying an average of about $6,000 per year on them.

This represents the equivalent to 12 percent of the average annual income and includes devices and services.

The sales and use of mobile technology, specifically cell phones and smartphones, generated almost $3.3 trillion in global revenues, last year, said a Qualcomm commission report entitled “The Mobile Revolution: How Mobile Technologies Drive a Trillion-Dollar Impact” report. It also stated that the aggregate annual consumer surplus – that is, the benefit above and beyond what is paid directly for mobile services – is considerably higher, at a total of about $6.4 trillion.

Most of the people who were surveyed said they would rather give up dining out for a year than their mobile technology.

Mobile Technology Brings in lots of MoneyThey also said that they would give up going on vacation for a year in order to be able to hang on to their mobile devices. The research included the participation of 7,500 consumers in the United States, Germany, Brazil, India, China, and South Korea.

In Korea and China, the majority of smartphone users said that they would prefer to give up their home broadband internet connection than go without their devices.

According to senior partner at The Boston Consulting Group, David Michael, who was also the report’s lead author, “The typical U.S. consumer reports that their mobile phone connection creates more than $5,800 in value for them per year, over and above what they pay. That surprised us.”

Michael also pointed out that it was interesting to observe the value that consumers applied to mobile services within emerging markets. Among Indian and Chinese consumers, over 60 percent claimed that their mobile device services gave them access to new opportunities in generating income.

The report indicated that from 2009 through 2013, the mobile technologies industry made capital expenditures and research and development investments of $18 trillion.