Global mobile connections set to hit 7.8 billion in 2016

25 October 2011 |

According to Ovum, global mobile connections are set to grow by 30% over the next five years, reaching 7.8 billion in 2016.

In its latest report, the analyst firm has gone on to predict that total mobile service revenues will hit $1,047 billion in 2016. Revenue growth, however, will be restricted to a CAGR of only 1.9% between 2011 and 2016, with telcos expected to contribute a higher CAGR of 7.2% in the same period.

Despite accounting for an estimated 60% of total mobile revenues in 2016, voice revenues are likely to begin declining in 2013 and will fall from $658 billion in 2011 to $628 billion in 2016.

Africa looks set to capitalise on a growth in connections, increasing at a CAGR of 9.4% between 2011 and 2016 to reach 991 million in 2016.

This could prove to be almost double the number of connections in North America, which is estimated to experience a CAGR of 4.2% in the same period.