The fast expansion of global smartphones market had massive surge in Mongolia's IT industry as 3G data usage grew by 51 percent, (from 17.4 terabyte to 26.3 terabyte) last year, according to the Communications Regulatory Commission of Mongolia (CRC). The CRC has recently released the 2017 key indicators of telecommunication sector. The report shows that number of active mobile users reached 3.9 million in 2017, a 12.2 percent growth compared to 2016.
Smartphone users in Mongolia totalled 2.4 million, of which 71.9 percent were Android OS users, while iOS users amounted to 21.7 percent. The demand is relatively high for a small economy. Experts expect mobile services to grow faster as they envisage the economy to pick up in 2018-19, highlighting that mobile services have expanded in Mongolia even during economic difficulties.
Information Technology industry revenue total MNT 1.07 trillion
However, demand is becoming one of the major challenges for global smartphone industry as users tend to hang on to their phones longer. It is because big leaps in features, such as better cameras are no longer significant for consumers. Google’s vice president and product manager Mario Queiroz said last year, “We are getting to the point where photo quality is already so good that the focus is turning to the smarts that you build beyond that.” As such, the fall in smartphone demand is leading a constant growth for app businesses.
Over the years, several innovative models emerged in Mongolia, such as financial service app LendMN and UBCab taxi service. As a developing country, the app market in Mongolia is fairly young, but commercial banks’ engagement in fintech apps provide favorable payment infrastructure. For example, Trade and Development Bank’s Most Money app provides easier credit purchase for prepaid mobile devices.
In 2017, IT industry revenue totalled MNT 1.07 trillion, half of which was by mobile network. Investments in the IT sector amounted MNT 173.2 billion, while taxes generated from the sector accounts to MNT 150.2 billion.
Tugsbilig.B
The fast expansion of global smartphones market had massive surge in Mongolia's IT industry as 3G data usage grew by 51 percent, (from 17.4 terabyte to 26.3 terabyte) last year, according to the Communications Regulatory Commission of Mongolia (CRC). The CRC has recently released the 2017 key indicators of telecommunication sector. The report shows that number of active mobile users reached 3.9 million in 2017, a 12.2 percent growth compared to 2016.
Smartphone users in Mongolia totalled 2.4 million, of which 71.9 percent were Android OS users, while iOS users amounted to 21.7 percent. The demand is relatively high for a small economy. Experts expect mobile services to grow faster as they envisage the economy to pick up in 2018-19, highlighting that mobile services have expanded in Mongolia even during economic difficulties.
Information Technology industry revenue total MNT 1.07 trillion
However, demand is becoming one of the major challenges for global smartphone industry as users tend to hang on to their phones longer. It is because big leaps in features, such as better cameras are no longer significant for consumers. Google’s vice president and product manager Mario Queiroz said last year, “We are getting to the point where photo quality is already so good that the focus is turning to the smarts that you build beyond that.” As such, the fall in smartphone demand is leading a constant growth for app businesses.
Over the years, several innovative models emerged in Mongolia, such as financial service app LendMN and UBCab taxi service. As a developing country, the app market in Mongolia is fairly young, but commercial banks’ engagement in fintech apps provide favorable payment infrastructure. For example, Trade and Development Bank’s Most Money app provides easier credit purchase for prepaid mobile devices.
In 2017, IT industry revenue totalled MNT 1.07 trillion, half of which was by mobile network. Investments in the IT sector amounted MNT 173.2 billion, while taxes generated from the sector accounts to MNT 150.2 billion.
Tugsbilig.B