The Smartphone Market is one of the fastest growing markets in the Telecommunication sector. As of 2014, the Telecommunication sector is expected to witness nearly 1.6 billion users.
As smartphones offer convenience such as easy access to internet, online transaction, m-commerce, and social networking, they have high adoption worldwide. In addition, the market is expected to witness nearly 25 percent increased adoption of smartphones compared to 2013.
This surge in smartphone usage has also led to a boom in services like mobile data monitoring, a market that is expected to grow by a CAGR of 22.7 percent from 2014-2019.
What is Mobile Data Monitoring?
Mobile data monitoring (MDM) is a type of software that is used to review or monitor the performance of a mobile device in terms of data speed, usage, signal strength, and data transfer. With the help of MDM software or solutions, it is easier to track the amount of data being transferred to other users. MDM solutions have easy user-interface enabling easy access to details about the speed of data upload or download over the internet.
In addition, the solution also provides a graphical representation of data usage and alerts the user about the threshold limit. MDM solutions also automatically disconnect internet access once the user exceeds the data usage limit. Apart from tracking data usages, MDM solutions also detect an operator’s network and country code, which helps the user decide the level of trustworthiness before accessing the network.
What is Driving Growth in Mobile Data Monitoring?
TechNavio analysts have identified the following factors as big market growth drivers for MDM solutions:
Use of Mobile Devices for Financial Transactions
The increased use of personal devices for financial transactions is one of the major factors driving the demand for MDM solutions in the Consumer Electronics segment, leading to the growth of the Global MDM market. The popularity of mobile transactions such as online payment, e-commerce, and third-party transactions has encouraged the use of mobile banking. This has created the need for high-level security against hacking and manipulation.
Increased Penetration of 3G and 4G
One of the major factors driving the Global MDM market is the growing penetration of 3G and 4G services. Such high-speed internet connections are capable of supporting various mobile applications such as mobile TV, games, and online videos, which leads to high data consumption.
Hence, customers require MDM solutions to monitor and manage data consumption through high-speed internet. Therefore, the increased mobile subscription base and the increase in penetration of 3G and 4G services is expected to contribute to the growth of the Global MDM market.
Decrease in Prices of Mobile Internet
The increased adoption of smartphones and tablets has given rise to the adoption of mobile internet. With the help of mobile internet, it is convenient to access bank accounts, m-commerce, and social networking sites. As the adoption of mobile internet is increasing rapidly, it is leading to high competition among various telecom service providers.
This increased competition has further resulted in reduced cost of mobile internet. Therefore, the low cost of mobile internet has created awareness and increased adoption among various new and old smartphone and tablet users.
