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According to The Boston Consulting Group report ‘The Mobile Revolution: How Mobile Technologies Drive a Trillion-Dollar Impact’, the mobile technology revolution is spreading further every day and naturally, the business world is already reaping benefits.
The report, which collected data from the US, Germany, Brazil, China, India and Korea, provides clear evidence for the increasing impact of this revolution. The data speaks for itself: mobile technology already represents between 2% and 4% of GDP in these six countries, with the exception of South Korea, where it actually accounts for 11%.
A quick look at the report’s main findings shows mobile technology’s significant global impact on SMEs and the labor market. Here’s how:
- Mobile technology has become a major engine driving growth for SMEs; those that have used it have seen a twofold increase in profits.
- This economic impact directly leads to the creation of new job positions: SMEs joining in on the mobile revolution have increased their hiring capacity eightfold.
- While this type of technology has a positive effect throughout the business world as a whole, the greatest beneficiaries of all are the companies and startups behind the mobile boom. The report reveals that among these companies financing through venture capital has doubled over the past four years: having gone from 3.8% of total investment back in 2010 up to 7.9% in 2014.
According to the report, the success of mobile technology in the SME world may be attributed to the advantages it gives to the owners and workers of small and medium-sized businesses. Participants in the report stated that adopting mobile technology allowed them to become more flexible and agile when it comes to communicating with clients.
Beyond businesses, let’s not forget about the impact of the mobile revolution on consumers. As reflected in the report, 64% of consumers who participated in the survey were willing to give up dining out for a whole year if it meant being able to continue using their smartphone or tablet.
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Mobile’s victory in the business world has also led mobile content and app creation to become a major multi-billion-dollar industry across the globe. Last year, the sector generated more than 500 billion dollars (more than 450 billion euros).
Looking at the report’s findings, we can only say one thing: Long live mobile technology!