Feeling blue about the state of the world’s financial markets? Here’s a bit of cheerful news about one area of the economy that’s still powering ahead: mobile phone service.
According to a study released Sept. 22 by London-based market researcher Informa Telecoms and Media, the number of mobile subscriptions around the world will reach 4 billion by the end of this year; just 15 months after the market topped 3 billion.
The engine for this rapid growth, Informa says, is emerging markets. Both China and India have added more than 50 million new mobile subscribers in the last six months alone. There has also been huge growth—in excess of 10 million subscribers—in Indonesia, Vietnam, Brazil, Iran, Pakistan, Russia, and Nigeria.
The fastest-growing region in the next few years, predicts the report, will be Asia Pacific, with 7.51% compound annual growth. The slowest will be heavily-penetrated Western Europe, with just 2.55%.