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Mobility Services Spending in APeJ to Reach $288.9 Billion by 2022, says IDC

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Mobility Services Spending in APeJ to Reach $288.9 Billion by 2022, says IDC Image Credit: IDC

Mobility solutions (hardware, software, and services) revenue from Asia Pacific excluding Japan (APeJ) will record 5.7% year over year (YoY) growth, reaching $541.9 Billion in 2018 and $615.4 Billion by 2022, according to IDC's report

Mobility services, which represents the second largest technology spend, is dominated by mobile connectivity services at over 97% of services spending. Overall mobility services spending is expected to reach $288.9 Billion by 2022 and will see a notable rise in spending with a five-year (2017-22) CAGR of 16.2%.

Hardware purchases leads software and services with USD 270.9 billion in 2018 and this trend is likely to continue with a five-year CAGR of 5.2% over the forecast period (2017-22). Services and software followed with 49.7% and 0.3% market share respectively in 2018.

Mobility software technology spending will reach $1.7 Billion in 2018 but it is estimated to witness the strongest spending growth out of the three at 25.7% CAGR over the forecast period. Mobile enterprise applications will be the largest segment of software followed by mobile enterprise security, Enterprise Mobility Management (EMM) and Mobile Application Development Platform.

Enterprise Mobility today lays the foundation for the future of work, and enterprises now consider mobility as a strategic value driver, says IDC. These trends along with emerging technologies such as Augmented Reality/Virtual Reality, Artificial Intelligence and 5G are expected to accelerate investments in mobility technologies over the next few years.

The consumer segment will account for more than 84% of total mobility spending throughout the forecast period. In the commercial segment, the industries that will drive the largest spending on mobility solutions in 2018 are Banking, Education and Discrete manufacturing. Most of the spending in commercial segment will be driven by connectivity and hardware.

Ray is a news editor at The Fast Mode, bringing with him more than 10 years of experience in the wireless industry.

For tips and feedback, email Ray at ray.sharma(at)thefastmode.com, or reach him on LinkedIn @raysharma10, Facebook @1RaySharma

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