The worldwide market for mobile and professional services will grow at a CAGR (compound annual growth rate) of 58.5 per cent to be worth US$30.4 billion by 2006, according to estimates released Monday by research firm IDC.
IDC defines this market as consulting, implementation, operations, support, and training services activities performed when extending mobile or wireless access to enterprise applications on new or existing infrastructure. The market was worth around $3 billion in 2001, more than double its value in 2000, IDC said.
EMEA (Europe, the Middle East and Africa) is the largest market, following the early adoption by Nordic countries of wireless technologies, with carriers depending on the advice of professional services firms to launch successful operations.
North and South America are the fastest-growing services markets, expected to maintain a CAGR of 73 per cent between now and 2006, when the market will be worth $13.3 billion, or 43.7 per cent of the global market, IDC said.
The Asia-Pacific region is not far behind, with Japan and Australia being the largest spenders, according to IDC estimates. In Japan, mobile services will be required in consumer areas such as banking, retailing, and sports, but a bigger opportunity exists in the enterprise segment, as companies explore new mobile commerce initiatives, IDC said.
Security services will be a fast-growing niche market within the mobile services market. Worth $75 million worldwide in 2000, the market will grow at a CAGR of 69 per cent to be worth $1 billion by 2006, according to IDC.