The Changing Landscape of Network Infrastructure
Research Moz recently unveiled the results of a study looking at the future of the NFV, SDN, and wireless network infrastructure from last year until 2030. Specifically, the report looked at the ways that the relatively new world of mobile device insurance will continue to grow and become more effective through the leveraging of technology.
More and more providers of mobile devices and cellular networks have begun offering insurance plans for their customers that offer replacements in the event that their devices are lost, stolen, or damaged. Many of these insurance policies have also been integrated with a data backup and management service, as well as location tracking, remote wiping, and other features. This is incredibly important, because once a lost phone is replaced, data backups are necessary in order to restore all of the old information to the new device. For obvious reasons, customers are big fans of these offerings.
As such, Research Moz estimated that by the end of 2016, mobile device insurance will generate over 20 billion dollars in revenue, and that figure will only continue to grow over the next 15 years. By 2020, that figure should increase to 30 billion dollars, increasing at a compound annual growth rate of 12 percent.
As more and more mobile phone customers store increasing amounts of their data in the cloud rather than locally on their devices, data management services are growing more and more important. When customer subscribe to some sort of data backup service, they are given much greater piece of mind when it comes to their mobile devices. Even if the worst case scenario happens and the phone is lost or destroyed, a few clicks are all it takes to recover all of that data back onto a new device. Clearly, customers are more than willing to pay for this service and the peace of mind that comes with it. As such, the mobile insurance and data management markets should be expected to continue to grow over the next 15 years.
Edited by Alicia Young