According to a Markets&Markets research report increased IoT adoption will drive mobility. The IoT growth looks promising with more and more enterprises deploying Narrow Band IoT (NB-IoT). The NB-IoT market is expected to grow from $320.5 Million in 2017 to USD 8,221.3 Million by 2022, with a Compound Annual Growth Rate (CAGR) of 91.3% from 2017 to 2022. Also, with a combination of cloud and the telecom industry having taken force, the telecom cloud billing market size is to grow from $2.49 Billion in 2016 to USD 8.22 Billion by 2021, at a CAGR of 27.0% from 2016 to 2021. All these indicate that enterprise mobility is a space to watch in 2017 and the years to come.
Over the last couple of years enterprises have innovated with mobile applications to increase productivity and optimize costs. Moving forward, with IoT and other enabling technologies like analytics and cloud, enterprises of all sizes will increasingly go mobile. The market for mobile applications is expected to grow from 48.24 Billion in 2016 to 98.03 Billion in 2021. This growth will be driven by the growing demand of real-time data capture and the business focus on mobile workforces.
Organizations are increasingly looking to adopt the Bring Your Own Device or the BYOD model and therefore the market for devices is also poised to grow significantly. Researchers estimatet the market for devices to grow from USD 35.10 Billion in 2016 to USD 73.30 Billion by 2021, at a CAGR of 15.87%. Organizations adopting BYOD model are eyeing increased productivity levels, greater employee satisfaction and reduced hardware costs. Similarly, increased use of work-related activities on virtualized platforms are expected to see a growth from USD 2.16 Billion in 2016 to USD 5.68 Billion by 2021, at a CAGR of 21.3%. The vitualized platforms also help enterprises streamline security strategies for layers and layers of data coming in.
As far as industries that will reap the benefits of mobility, the global banking sector is said to lead the way with mobility investments expected to exceed $100 billion by 2020.
APAC – fastest growing region for mobility
IDC’s deep analysis on the Asia Pacific Region for 2017 establishes that enterprise mobility in Asia Pacific represents one of the fastest-growing markets across the region. Mobility is taking the top spot as a technology priority for enterprises.
India – an exciting market for mobility
Enterprise mobility is expected become a USD 1,871 million market by 2017 in India. In a survey by IDC 37 per cent of the Indian organizations have rated enterprise mobility as high priority.