Why standardization is important for the mobile industry
A rising tide lifts all boats, and the mobile industry has learned that cooperation and collaboration helps everyone. Standardization has helped the sector evolve, touching everything from commerce to healthcare. In 2019, mobile technologies and services contributed $4.1 trillion of additional economic value (around 4.7 percent of global GDP), equating to around $490 billion in tax revenue.
These figures are only likely to grow as more people globally take up mobile services, especially in rapidly-developing nations like China and India. Additionally, with the introduction of wireless 5G technology, more devices are able to connect to the internet, helping to expand the Internet of Things (IoT) market.