Mobile industry analysis is a combination of market research and an examination of trends for mobile phones and electronics. It takes a look at the sales activities for the industry as a whole, including mobile phones, mobile phone applications, and other wireless devices. Some of the other devices include MP3 players and GPS systems. Mobile industry analysis examines product development trends, competition among major manufacturers and consumer purchasing behavior.
A major component of a mobile industry analysis involves tracking current trends. This includes reports on the types of products that are most popular according to sales volume. Mobile industry trends will also report on the latest product innovations that stand a chance to reshape the industry and the way that consumers communicate. Some previous examples of this include certain consumers abandoning traditional landline phone service in favor of cell phones and the introduction of smart phones, with integrated voice, data and business productivity tools.
Future predictions or outlooks are another part of a mobile industry analysis. Insiders attempt to determine the industry's future by looking at current behavior and trends. One of the ways that analysts try to predict the future of the industry is by attending trade shows that demonstrate new products that are not yet on the market. By discovering new products that manufacturers feel consumers are likely to adopt, analysts can speculate with some confidence about what may be the latest trend in a year or two.
Part of a mobile industry analysis looks at the major companies that contribute to its sales activity. Analysts will determine the major competitors and how their products stack up against each other. Not only will they look at the distinguishing features of those products, but analysts will also determine what makes them tick with consumers. Undoubtedly some manufacturers' products will surpass others in terms of popularity, sales volume and overall capabilities.
There may be a standout market leader that continues to bring innovative products to the market before the competition does. This company may be considered a key player, which all other competitors are compared against. Mobile industry analysts will attempt to determine what that key player is doing that is different from the other companies in the industry that might be contributing to its success. Industry insiders will uncover factors such as organizational culture, marketing techniques and the company's product development process.
Consumer reactions and purchasing behavior are also heavily tracked. Reports on what consumers like and what they don't like is included, as well as how they use the available products. Sometimes companies use industry reports and research to sense customer needs that aren't being met. This can result in new product developments, such as prepaid smart phones or satellite radio service that is integrated into a mobile phone.