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Impact of the phone technology on the world’s economy essay sample

Impact of the phone technology on the world's economy essay sample

 The mobile industry has evolved to the dramatic size in the past 20 years or so. Today we have 3 billion of 3G and 4G connections that are much faster than the old 2G. By 2020, mobile networks are planning to cover up to 8 billion connections, in the first place, because of the affordability of mobile services. The cost of mobile subscription has fallen dramatically for the last decade, and one can purchase a cell phone for as little as $40.

In 2015, Boston economic researchers examined the income brought by mobile industry in the US, Brazil, Germany, India, China, and South Korea. They found the total GDP of $1.2 trillion obtained from mobile commerce. The income is huge as it exceeds the economic benefit of the automobile industry in the surveyed countries. The aggregate value of using mobile devices to consumers reached $6.4 trillion. Though the greatest mobile GDP was found in the US, the value of mobile devices is especially high in the emerging economies.

The economy of mobile networks is encouraging. Despite cell companies face a tough competition with internet providers, millions of users stay subscribed to their services. Not only individuals but also businesses benefit from overall connectivity.  The study found that small and medium companies that used at least a couple of mobile apps in their work get a higher profit, grow faster, and create more jobs in the long run. Certainly, mobile industry has pushed economic development forward, which is visible from GDP of countries in particular.