17 Feb 2015 16:00 IST

The smartphone’s worldwide impact

The Spice Android One Dream Uno smartphone manufactured by Spice Mobility Ltd. sits on display during the Google Inc. Android One smartphone launch event in New Delhi, India, on Monday, Sept. 15, 2014. Google will offer customers in India the Android One, a low-cost phone capable of Internet access, to win users in the fastest growing smartphone market. Photographer: Kuni Takahashi/Bloomberg   -  Bloomberg

The smartphone, along with its cousin, the tablet, and a fast-expanding family of “wearables” and other “smart” devices are transforming the way people live, work, play, connect, and interact. In the process, they are converting the digital revolution into an increasingly mobile phenomenon.

According to a study by the Boston Consulting Group (BCG) consumers put a value on the mobile Internet that far exceeds what they pay for it. Competition and innovation in the tech sector are unleashing invention in countless other areas as consumers adopt new behavioural patterns and businesses find ways to improve efficiency, develop new products and services, and expand their market reach.

BCG says the mobile Internet has created millions of jobs, too. And the wave has not yet begun to crest. Mobile penetration is increasing, the costs of access and devices are coming down, and more and more people in both developed and developing economies are using the mobile Internet as their first—and often their only—means of going online.

Sourced from The Boston Consulting Group webpage

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