Mary Meeker, the former Wall Street Securities Analyst and the current partner at Kleiner Perkins Caufield Byers, released her Annual Internet Trends Report for 2014 last Wednesday. The report highlights a few things that will impact technology and business line executives, while pointing out that the internet is quickly moving to mobile.
When Mary Meeker, one of the leading internet forecasters, looks towards the future what she can see is the fast growth of mobile internet. Well, this means changes for brands, programmers, developers and users. The report says that the global mobile internet usage is growing rapidly, with a jump from 14% in May 2013 to 25% in May 2014. In North America, the numbers jumped from 11% to 19% and in Europe it plunged from 8% to 16%. Meeker says that mobile internet traffic is growing at a rate of 81% per year, and is largely driven by videos.
What Does This Mean For You?
- There is a lot of scope for more smartphones to be sold. Out of 5.2 billion mobile phones in use, only 30% of them are smartphones. So, smartphones still have plenty of room for growth.
- This in turn means that mobile advertising also has enough room for growth. According to Meeker $30 billion can be made per year in mobile ads, therefore it will be wise of advertisers, marketers, and media companies to find a way to make this work out.
- According to the report, people spent $38 billion in 2013 on mobile apps, and the market is only going to grow. By 2017, mobile apps will generate more than $77 billion in revenue.
- The new mobile apps are going to be very different from the older ones. As Meeker says, “they are not meant for just the idle browsing, but are purpose-built and informed by contextual signals like hardware sensors, location, history of use & predictive computation.” This means that either you have to work directly with the vendor or the vendor should have open APIs. Without this your applications will remain ineffectual.
- Meeker feels the mobile internet traffic is largely driven by videos. Smartphones and tablets are not just replacing remote controls but Internet TV is replacing the traditional idiot box. Particularly, there is a great scope for the on demand mobile apps. 40% of Internet TV watchers watch it on mobile devices.
- 84% of mobile phone owners use devices while they are watching television. Phones are used for Web surfing, e-shopping, checking scores for sports, finding information on what they are watching on the TV, and chatting with friends about the show.
This shows the future belongs to mobile internet, and so all the enterprises need to be mobile first. If your business is not geared up for mobile internet today, you can have serious trouble tomorrow.