In its latest report, the analyst firm has gone on to predict that total mobile service revenues will hit $1,047 billion in 2016. Revenue growth, however, will be restricted to a CAGR of only 1.9% between 2011 and 2016, with telcos expected to contribute a higher CAGR of 7.2% in the same period.
Despite accounting for an estimated 60% of total mobile revenues in 2016, voice revenues are likely to begin declining in 2013 and will fall from $658 billion in 2011 to $628 billion in 2016.
Africa looks set to capitalise on a growth in connections, increasing at a CAGR of 9.4% between 2011 and 2016 to reach 991 million in 2016.
This could prove to be almost double the number of connections in North America, which is estimated to experience a CAGR of 4.2% in the same period.
