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Market For Mobile Technology To Top $89 Billion By 2011

If you thought mobility was a passing phase, think again. A new research report noted that the market for mobile technology was $55.6 billion in 2005, $63.5 billion in 2006, and is enjoying a compound annual growth rate of 7%. At that rate, the mobile market will broach $88.9 billion in just 4 years. Care for a piece of mobile pie?

The report indicates that smartphones continue to have the highest growth potential through 2011. That segment alone shows a growth rate of 15.7% and will contribute $17.8 billion to the overall mobile market by 2011.

Still, laptop computers continue to hold onto the lion's share of the market, holding onto 84% of the global market in 2006. Come 2011, laptops alone will be a $69.2 billion market, representing 96% of the total.

Don't think that hardware will have all the glory, though. Applications and software targeted to mobile use also will grab their fair share of enterprise and consumer dollars. According to the study, office related, communications-based and global positioning software will comprise 67% of applications installed on mobile phones. The study didn't provide software-specific dollar figures or growth rates, however.

Obviously, this is good news for makers of these technologies. Consumers and enterprises alike will be spending more and more money on mobile technology in the coming years. The challenge for manufacturers will lie in marketing products and services in such a way that they are noticeable above the relative din of the industry.

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