Mobile technologies driving a trillion-dollar impact

20/05/2015 17:40 AST

Mobile technologies are creating immense value for consumers, who value them at 11 to 45 per cent of their income – well above what they pay for the service, a report said.

According to the new report by The Boston Consulting Group (BCG), a global management consulting firm and the world’s leading advisor on business strategy,33 per cent of consumers would rather accept a 20 per cent reduction in salary than give up their mobile phone.

The study, titled The Mobile Revolution: How Mobile Technologies Drive a Trillion-Dollar Impact, revealed that the ways that consumers use mobile technologies vary considerably in developed versus emerging economies.

The analysis, which was commissioned by Qualcomm Incorporated but produced independently by BCG, found that, in developed markets, the ubiquitous connectivity makes users’ lives easier through services such as mobile banking, GPS-based mapping, and crowdsourced recommendation apps.

Interestingly, consumers in developed markets value mobile technologies at upward of $6,000 per year, or approximately 12 per cent of their income.

In emerging markets, the numbers tell an even more powerful story. For many consumers, mobile phones are their only “connected” device. It provides the chance to live healthier lives, access educational resources, earn a higher income, and create better living conditions.

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