Impatient CEOs are demanding more innovation from their business technology leaders, as the digital disruption that's already unseating entrenched incumbents can cause real angst. Some have requested their CIO to move quickly and harness the smartphone device that's in nearly every employee's possession.
What is your mobile-first business strategy? Are you prepared to accelerate your mobile application development efforts? The right answers to these key questions will become increasingly important.
The savvy IT leaders at forward-thinking organizations across industries are already utilizing enterprise mobility software applications to transform their businesses and gain a competitive edge in the Global Networked Economy. Commercial mobile application development is a strategic business tool in the quest to achieve a significant digital transformation.
Leveraging Enterprise Mobility Leadership
According to the latest global market study by IDC, $901 billion was spent worldwide on mobile technologies in 2014. Wireless data and smartphones comprised the lion's share of this spending.
The upside growth is forecast to reach $1.2 trillion by 2019. Excluding consumer spending, the IDC study uncovered the industries that will invest the most in mobile technologies -- including discrete or process manufacturing and professional services.
Combined, these market segments will represent 17 percent of the total market in 2019. The areas of greatest growth, however, include personal and consumer services, media, and the banking industries.
Mobile app adoption may have started with the basic concept of enabling routine communication freedom, but it has advanced and evolved -- many organizations are embracing capabilities unique to enterprise mobility and unique to their particular industries.
IDC says that each and every vertical is different in terms of its underlying industry drivers, barriers, and potential mobility benefits. Industry-specific applications will be a driving force as businesses look for agile solutions that can be easily configured to their evolving requirements.
"More than ever, mobile technologies are empowering workers across industries to connect, collaborate, and create new ways to operate and do business," said Jessica Goepfert, program director at IDC.
IDC believes that this trend goes beyond providing a secure smartphone to every employee, in the hope of improving their connectivity while away from the office. Instead, it's about utilizing mobile technology to increase sales, improve productivity, and raise customer and employee satisfaction.
Key findings from the IDC study include:
- Worldwide, the manufacturing sector represents the largest enterprise opportunity for mobile technologies. The industry's sizeable economic footprint and global operations create a naturally large market.
- Consumer-centric industries such as retail, media, and personal and consumer services are leveraging mobility to engage and connect with their customers to improve their experience, bolster loyalty, and generate larger sales per customer.
- There are still numerous concerns around mobility. Security and regulatory issues remain the biggest barrier for mobile technology adoption across industries such as government and financial services.
That being said, mobile and cloud computing have been catalysts for major market disruptions, causing business leaders to rethink technologies, services, and their go-to-market approach.
This has raised the bar on immediacy, pervasiveness, and contextual awareness and it's changing how businesses engage and operate -- thereby challenging the traditional IT methodologies. At the same time, mobile devices are being upgraded at a rapid pace. In turn, this has placed new demands on IT organizations. Are you ready to turn your CEOs expectation for a mobile-first strategy into a reality?