Rise of the Next Mobile Economy
Rise of the Next Mobile Economy
What this means for businesses and how to prepare for it
We are in the era which mobile technology is inherent in our personal and work lives. 2016 saw more people accessing the Internet from their mobile smart devices than from desktops for the first time ever. This phenomenon is driven largely by an increasingly mobile workforce. Now mobile isn’t just for the individual consumer but it is evolving to become a handy work desk.
Beyond just smartphones, we have progressed to Augmented Reality (AR), Artificial Intelligence (AI), Internet of Things (IoT) and 5G connectivity. These technologies are disrupting the way businesses work and it is an opportunity for them to step up to what Samsung terms the Next Mobile Economy.
“Advancements in technology move quickly, even quicker for mobile technology. Those that can embrace and leverage new technologies are winning the competitive battle.” Maribel Lopez, founder of Lopez Research
The Next Mobile Economy is filled with limitless opportunities to be creative and innovative in the ways they solve real business challenges.
In the Next Mobile Economy, all great ideas are born mobile
The predicted value of the connected work economy is $63 billion.
It is no longer just smartphones that connect to the Internet. With IoT, an exploding range of devices such as security sensors, wearable technology, home appliances and vehicles are getting connected to the Cloud to gather data and drive business value. Businesses who adopt the ‘mobile first’ philosophy will see themselves gaining a strong competitive edge and achieving great revenue growths.
It is forecasted that by 2020 there will be 20.8 billion devices connected to the Internet, which is an astounding 300% increase in four years.
Analysts have also forecasted that by that time, an average digital citizen will have access to 10 connected devices.
Emerging technologies such as Virtual Reality, Augmented Reality and Artificial Intelligence are being commonplace. Powered by the blazing fast 5G speeds, these new technologies will connect to drive transformational change where previously impossible.
Forward-looking businesses who are willing to step through the doors of opportunities will survive and thrive in the Next Mobile Economy. In fact, 8 out of 10 business leaders believe mobile is the gateway to becoming a leader in their industry.
Being open is the key to thriving in the Next Mobile Economy
In the age of hyper-connected working, open collaboration through mobile systems will inspire greater closeness between businesses and their partners. Startups will empower multinationals and competitors will find common ground for shared co-creation, innovation and problem solving, fueling new opportunities through cross-sector open partnerships, services and eco-systems. More than half of the world’s 500 biggest companies already work with startups.
Business needs vary drastically and off-the-shelf solutions just won’t cut it. Open customisation empowers businesses to adapt and develop to cater to their operations, employees and customers. Research has reflected that 66% of IT executives will invest in custom software solutions over the next five years.
“Businesses feel more confident when they can tailor solutions based on what their workforce needs.” - Reticle Researchi
Open yet controlled
With greater mobility also comes the need to retain control. This creates the demand for open yet controlled systems that allows for flexible work technology for the mobile employee and easy control over your devices remotely.
Consider mobile device management tools that enable you to manage your fleet of smart devices easily. Update your software, add new applications, implement security alerts all across the board will help your employees enjoy a unified and seamless experience working and collaborating on their mobile devices.
Open but secured
Increasing dependency on mobile devices, apps and Cloud systems will mean confidential information moves faster than ever, heightening the need for open yet secure platforms and software that protects both employees and employers.
There has been an exploding concern of cyber-security. The overall cost of data breaches will amount to $2.1 trillion next year. Businesses will need to balance openness and collaboration with security.
In order to thrive in the Next Mobile Economy, businesses must be fortified with devices that are secure from the chip-up through integrated platforms such as Samsung Knox, defence-grade security that’s already trusted by many governments and corporations around the worldiii. Not only does Knox protect mobile devices and tablets with real-time monitoring, it is pioneering in its usability.
To lead in the Next Mobile Economy and achieve effective digital transformation and enterprise mobility, business owners must be receptive to new technologies and be ready to seize opportunities to advance their existing workflows.
iThis article is adapted from Next Mobile Economy White Paper, a report by The Future Laboratory, a global trend forecasting agency. commissioned by Samsung Electronics Ltd. Refer to www.samsung.com/us/business/solutions/topics/next-mobile-economy/
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