Question

Q67

Describe the key drivers of the growth and development of the mobile wireless industry. [3 Marks]

Answer 1

Here are the key drivers of the growth and development of the mobile wireless industry:

• One of the main drivers has been the growth in the adoption of the Internet of Things. The mobile wireless industry needs continuous network connectivity, good equipment and services. Smart services are defining the future of mobile service industry.

• Adaptive capacity and adaptive abilities of wireless cellular companies are contributing to its growth and development. Business needs to continuously change and adopt dynamic business models & strategies to have a higher market share. Sector partnerships which are strategic and brings expertise in areas like media, content and cellular resources are important.

• The growth in the number of partnerships and cross-sector alliances is another important driver contributing to the growth and development of the mobile wireless industry. Mobile companies and service providers are partnering across the industry to improve presence in the market.

• The improvement and development of the digital environment is another driver helping to produce innovative and tech advanced wireless cellular industry. The ecosystem is contributing to new ideas leading to an increase in revenue and market share.

• The wireless mobile industry has access to a lot of data and information which is available in real time. Firms are deploying technologies like big data analysis to increase the quality of their services. This data helps the firm to keep customer focus and develop/upgrade and add features to technology leading to repeat customers. This data and usage are big data analytics is a key driver for growth and development.

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