Migration of World to Mobile Technology
Mobile technologies are fast turning out to be the growth engine especially for the small and medium enterprises. In the past these units did not have the capabilities or resources to compete with their larger counterparts. In terms of capital, infrastructure, and human resources they could not match the multinationals or even the top national industrial units in the field. However use of mobile technologies and cloud computing has completely transformed the scenario and today small and medium enterprises has found a platform standing on which they can effectively compete with their larger counterparts.
Considerable Revenue Growth
Top 25-30% of the small as well as medium industries are now seeing considerable growth in their revenue earnings thanks to the use of mobile technologies. In many cases the growth is more than two times in terms of revenue earnings and more than eight times in case of growth in the number of jobs. A current trend in the consumer circles is searching the web on their mobile devices including tablets and especially smart phones and this has helped the cause of the small and medium industries considerably.
Huge Popularity of Mobile Devices
Today, all over the world there is huge growth of popularity of mobile devices with the user number growing to over billions. In the consumer circles the value of mobile technologies have been calculated in the range of 11-45% and many are willing to sacrifice various comforts in lieu of retention of their mobile phones. In essence; the world is moving through the phase of mobile revolution and the number of mobile users is growing quite consistently. It seems that the days of desktops and large bulky laptops are virtually over with slimmer and highly portable devices, especially the tablets and smart phones are taking their place rapidly.
Trillion Dollar Impact
According to the analysts and researchers the mobile technologies have a trillion dollar impact on the market and on the consumer circles. An extensive study of practices in six countries by the Boston Consulting Group with the Qualcomm reveals that in advanced economies like United States and Germany and developing economies like China, India, Brazil, and Korea that represents around 47% of the global GDP the development of mobile technologies has substantial impact on the growth rates of the economies concerned. These technologies accounted for GDP in the range of 2%-4% during the year 2014 and the impact was more in case of developing economy where the mobile technologies worked as catalyst in the growth of the economy.
Catalyst for Global Employment Growth
One of the reasons for huge adoption of mobile technologies and its considerable impact on the economies has been that the technologies work as catalyst for the global employment growth. In the last two years over 11 million jobs were created in the field and it reached the figure of $37 billion in the year 2014. Mobile applications and components alone accounted for $530 billion in terms of revenue earning in the year 2014 and their sales accounted for $520 billion in the market. The technologies generated around $.3.3 trillion revenue during 2014 alone.
Example of an Enterprise
An example to explain the impact of the mobile technologies on the growth of revenue generation by the enterprises is that of the enterprise whose revenue grew from 3.8% to 7.9% during the period 2010-14. The share of these enterprises also contributed handsomely in the overall growth of GDP of the economy. The growth was not confined to any particular sector but was found to have spread over divergent sectors in the industry as well as a diverse series of investments in mobile technologies.
Reasons for Growing Revenue
Reasons for growth in revenue generation with the use of mobile technologies are many but the most pertinent reason is that use of such technologies helps the small and medium enterprises to remain connected with their customers. In result there is increase in traffic flow, conversion rate of potential to real and real to loyal customers for the enterprise. At the same time it also helps expand the job prospects considerably.
Over 82% of the small and marginal enterprises who have taken to use of mobile technologies confirm that such use is giving them flexibility as well as agility to connect with customers and to impress them to become their regular clients.