Western Europe (WE) accounted for 78 percent of total mobility spending in 2017 and will remain by far the largest contributor in the wider European region, with a CAGR of 2.7 percent for the 2017–2022 period.
Worldwide spending on mobility solutions is forecast to reach $1.8 trillion in 2022, according to a new update to the Worldwide Semiannual Mobility Spending Guide from the International Data Corporation (IDC). While annual growth will vary somewhat over the 2017-2022 forecast period, IDC expects the five-year compound annual growth rate (CAGR) will be 2.8%. Mobility spending in 2018 is forecast to be $1.63 trillion.
The professional services industry is forecast to be the worldwide industry leader for mobility spending in 2018 at $44.9 billion, followed closely by the banking industry at $44.5 billion. Discrete manufacturing, retail, and education will round out the top 5 industries this year. Like the consumer sector, more than half of industry mobility spending (and nearly three-quarters for the professional services industry) will go to connectivity services and enterprise mobility services. While mobile devices will be the second-largest area of spending, most industries will also make considerable investments in mobile applications and mobile application development platforms. The industries that will see the fastest growth in mobility spending over the forecast period are discrete manufacturing and utilities (each with a 5.9% CAGR), telecommunications (5.8% CAGR), and process manufacturing (5.7% CAGR). Healthcare, with a 5.0% CAGR, is forecast to move ahead of education to become the fifth-largest industry by 2022.
The United States and China will be the two largest geographic markets for mobility spending throughout the forecast, with each seeing more than $300 billion in mobility spending this year. Japan will be the third-largest country for mobility spending in 2018 at nearly $107 billion, followed by India and Brazil at $51 billion and $44 billion, respectively. India will see the fastest growth in mobility spending, with a five-year CAGR of 7.9%. Venezuela and the Philippines will also have CAGRs greater than 7% while three countries—Israel, Taiwan, and Saudi Arabia—are forecast to experience a decline in mobility spending over the next five years.
From a company size perspective, large and very large businesses (500–999 employees and 1000+ employees, respectively) combined will account for nearly $197 billion in mobility spending in 2018, growing to more than $245 billion in 2022. The small business sector (10-99 employees) will grow to more than $100 billion in 2022 while medium-sized businesses (100-499 employees) will surpass $94 billion in 2022. The small office market (1-9 employees) will spend more than $70 billion on mobility solutions in 2022.