Younger companies and new start ups are replacing handset makers and mobile operators as the key influencers of the mobile industry, according to attendees at European Leaders’ Hot Topics at Mobile World Congress.
Over half of attendees (54%) now believe smart and innovative ideas are key for industry investment compared to less than one fifth (19%) who favour established brands that are already generating large profits. In addition, fewer than one in ten (9%) said they believe that these larger corporates will return to their core business in 2012.
Younger companies are starting to make their mark on industry. This is a trend that is set to grow as 59% of respondents believed that start ups and new apps will lead the way in mobile in 2012. And with start ups set to attract 44% of the industry’s top talent, compared to fewer than one in twenty (4%) favouring mobile operators and handset manufacturers, these organisations are in a strong position to push innovative technologies to the forefront of the mobile space.
M-commerce in particular stands out as a growth opportunity within the wider industry. With 63% of respondents describing it as having a lack of coherent vision or clarity, it is crying out for an organisation to take the lead and make it work for businesses and consumers alike. As a result, 37% of influencers believe that major players will need to acquire innovative technologies and use market reach to ensure commercial viability of organisations.
But doing this effectively requires the right talent to be in place. Consequently, 43% of attendees said that there will be an increased focus on the development of talent in the coming year to ensure those in charge must be able to execute and market complex ‘go to market’ strategies.
Ashley Ward, a director at European Leaders, said: 'We’re entering the era of execution. Great ideas are essential whether you’re a large or small business but it is the quality of the team and its effectiveness that defines success or failure. The dinosaurs of the mobile industry cannot compete without agile innovation teams while great ideas from growth companies need the right people to take the initial seed and help it grow and develop.'