Report: Mobile hardware will be a $500-billion industry by 2015

We already know mobile is a big and rapidly growing industry, but research firm IHS iSuppli has painted a picture of just how expansive mobile communications has become. This year mobile equipment revenues globally will be $374 million, and in the space of three years wireless devices and infrastructure will be a half-trillion-dollar industry, a new IHS study found.

Despite crappy economic conditions, the mobile equipment market – which IHS defines as not just consumer handsets and tablets but also cellular network equipment – is growing 13 percent this year and will experience an 18 percent spurt in 2014, growing to $444 billion, the firm projects. IHS chalks up the coming boom to mobile broadband, particularly the growing adoption of LTE technologies.

The LTE infrastructure market is still quite small, accounting this year for only $8 billion and a mere $4 billion in 2011. But the LTE ecosystem has a long tail. Device revenues are increasing due to the growing number of smartphone and tablet sales., which take advantage of 4G’s increased bandwidth. What’s more those same mobile broadband trends are increasing wireless semiconductor sales, increasing demand for more powerful applications processor, more advanced radio silicon and a bevy of different device sensors.

Featured image courtesy of Shutterstock user Reno Martin