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October 7, 2016

Healthcare industry fastest growing in mobility revenues

Healthcare is the worldwide fastest growing industry when it comes to mobility revenues. According to the latest Worldwide Semiannual Mobility Spending Guide from International Data Corporation (IDC), worldwide mobility revenues are forecast to grow from $1.5 trillion in 2016 to more than $1.7 trillion in 2020. This represents a compound annual growth rate (CAGR) of 2.2 percent, or roughly $40 billion in annual revenue gains. Healthcare will grow above average, with a CAGR of 5.1 percent.

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Over half of all mobility revenues ar generated by onsumer spending, a number of industries are making significant investments in mobility products and solutions.  The number one industry here is banking, followed by  Discrete manufacturing, professional services, and retail. The industry that will deliver the fastest revenue growth over the 2015-2020 forecast period is healthcare (5.1% CAGR), followed by telecommunications, professional services, and utilities.

Healthcare provider industry fastest growth

"Worldwide, the healthcare provider industry is expected to have the fastest growth in mobility spending over the life of the forecast," said Jessica Goepfert, program director, Customer Insights and Analysis. "Within the U.S., however, while the healthcare provider industry is still expected to be among the top 5 growth areas for mobility, spending is starting to temper.”

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From a regional perspective, Asia/Pacific (excluding Japan), led by strong investments in China, will be the largest overall mobility market in terms of revenues, which are forecast to exceed $500 billion in 2020. The United States represents the second largest region, and the region with the strongest growth forecast (4.7% CAGR). Latin American and the Middle East and Africa (MEA) will also see revenue growth greater than the overall market.

Mobility revenues will primarily come from consumer and enterprise purchases of hardware (e.g., smartphones, portable PCs, and tablets) and services (e.g., connectivity services). However, software revenues will experience double-digit growth over the forecast period as developers race to deliver applications that meet the mobility needs of both groups. The strongest growth within the software category will come from investments in mobile application development platforms, mobile enterprise applications, and mobile enterprise security.

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