Expansion of the Global Internet Economy is encouraged by the rapid growth in smartphone and tablet usage.
Across 13 countries, representing about 70% of global GDP, the mobile Internet is already generating some $700 billion in revenues annually. By 2017, it is estimated that revenues from the mobile Internet will have grown to $1.55 trillion across these countries, an annual increase of 23%. Apps, content, and services will be the largest contributor to this revenue growth. It is also said that the mobile Internet has created 3 million jobs in these sample countries (Boston Consulting Group 2015).
Consumers derive significant value from mobile Internet usage. It is found that across 13 countries, the consumer surplus of the mobile Internet is approximately $3.5 trillion a year - seven times what consumers pay for devices and access (Boston Consulting Group 2015). In Sweden, more than 70% of consumers claim to shop online and 20% report using their mobile phones to purchase online. This is made possible through new secure online payment systems.
The increase in consumer-demand for online mobile consumption has resulted in the emergence of new technologies, unleashing a flourishing app economy. There have been over 200 billion cumulative app downloads from the various app stores since 2008. More than 100 billion of these downloads took place in 2013 alone. Leading app-store operators paid developers more than $15 billion between June 2013 and July 2014 (Boston Consulting Group 2015).