Mobile internet has the potential to drive global economic impact to $3.7 trillion to $10.8 trillion a year in 2025, according to a new report.
According to the McKinsey Global Institute study cited by Cisco, the 12 most disruptive technologies collectively have global economic impact of $14 trillion to $33 trillion per year by 2025.
McKinsey Global Institute principal Michael Chui said with only 1 or 2 billion of the planet’s 7 billion inhabitants already connected to the Internet, there’s still plenty of head room for the mobile Internet to have more impact.
"The vast majority of those who have not been connected to the Internet will be connected through mobile devices," Chui said.
"Any global business should be thinking about the possibilities of having the mobile Internet applied to this vast majority of people around the planet who have not yet had access to the mobile Internet."
The Internet of Things is also projected to drive annual economic impact between $2.7 trillion and $6.2 trillion.
Internet of Things would mainly offer improved efficiency and effectiveness of existing business models, while enabling the new business models and revenue streams.
The report said it expects the cloud technology to drive impact to the tune of $1.7 trillion to $6.2 trillion per year by 2025, while it has already grown leaps and bounds via Internet services including e-mail, social media, search, streaming media and offline personal data storage capabilities.
