New predictions from ABI Research forecast that smartphone shipments will reach 1.25 billion before 2014’s end.
Even more exciting that that is the accelerated growth they forecast over the upcoming 4 years. They predict a compound annual growth rate of global smartphone shipments over the period of 12% leading to smartphone shipments in 2018 of 2 Billion units.
“While smartphone growth is beginning to fall, plenty of growth remains, with smartphone penetration of mobile subscribers under 30% worldwide,” states Nick Spencer, ABI Research.
As the device market continues to expand, mobile application markets continue to show exceptional growth as well. Gartner states in-app purchases are growing at a phenomenal 27.83% compound annual growth rate and predicts paid mobile application downloads will grow at a compound annual growth rate of 14.22% through 2017. Mobile application development is certainly going to be a key component of most businesses’ marketing strategy.
Wearable technology is set to enhance the mobile environment even further.
“When wearable technology reaches a point where it can be integrated into everyday life, companies who take advantage of its ability to interact effortless with consumers will benefit by being prepared to meet customers needs,” says Kimber Johnson, Managing Director of Pacific App Design.
Latest posts by Kimber Johnson (see all)
- How Your Business Can Create Great Customer Experiences - February 5, 2017
- How to Capitalize on Opportunities Created by Mobile Commerce - January 4, 2017
- Mobile App Monetization Trends for 2017 - December 4, 2016