‘Do you remember the last time you booked a cab or ordered food on call?’
‘Do you remember the last time you uploaded a picture on Facebook via Desktop?’
‘Do you remember the last time you used a physical calendar to check the date?’
No, you don’t and that is the Big Change which Mobile Technology has brought into our lives and its impact tends to be increasing day in and day out.
With the advent of mobile-age, technology is shrinking its size to fit into the palms of the user. This phenomenon is only set to grow with the Internet of Things and automation growing from mere buzzwords to a way-of-life. The mobile technology has moved ahead of being restricted only to the tech-savvy verticals of the industry, it’s causing impact even in unconventional arena like, fashion, Medicare, fitness, military, etc. Mobile Innovations will bring about distinctively more changes in next 10 years than it happened in the last 10-15 years.
With the major ROI coming from Mobile devices, e-commerce and Social Media giants are focusing towards the Mobile Innovation. But what are the challenges that Mobile Innovation has thrown that it has driven the industry nuts?
One of the key challenges and the opportunity that the industry faces is, the entry barriers are relatively low for the newbies. This has put at risk the market leaders who are constantly exposed to a slew of inventive new competitors capable of rapid expansion. One of the greatest examples can be PokemonGo and Prisma, these innovators captured the market in a very short period of time putting other Mobile Apps and Games at loss. A key learning which innovators can derive from their success that these apps banked on the emotional quotient of the consumer. Similarly, Hike Messenger smartly targeted the young consumers and made it to the Unicorn club, becoming the fastest Indian Start-up to attain the feat. The Messenger app is giving a tough competition to messaging giant Whastapp. The success story clearly shows how important it is for app developers to devise a good marketing strategy according to the changing consumption pattern.
Secondly, Mobile Innovation is led by Hyper-Adoption but also runs with the risk of Hyper-Abandonment. Statistics say that more than 23% of mobile-apps are abandoned by the users after a one-time use. Games like Angry Birds, Temple Run, Candy Crush and Subway Surfers which were once a rage, now hardly find any takers because of lack of innovation. Similarly, once considered as top internet calling apps, Viber, Line and Tango lost it once Whatsapp introduced the calling feature.
Thirdly, the lack and risk of regulations in the Mobile Technology space. While many of the mobile apps are accessing the unwarranted personal data of users, industry is finding it hard to deal with the BigData explosion which Mobile Tech is causing. Authorities need to create flexible regulations which can monitor the industry, yet restoring the freedom to innovate.
Fourthly, the need of enterprise collaborations in mobile space. Ixigo recently launched it’s Cab booking app named Ixigo Cabs that let’s you choose from service providers on one single platform. The application offers options from Ola, Meru, EazyCab, Jugnoo and many other cab services. The mobile app has been a huge hit as consumers now don’t have to download multiple apps for a similar purpose. However, this new innovation is a threat to Uber, as it hasn’t collaborated yet on platforms like these. Similarly, social shopping apps like Wanelo and networking platforms like YikYak are steadily capturing the market, as consumer patterns are changing.
To sum-up Mobile Innovation can be the best and the worst that can happen to the industry. The right kind of innovation at the right time is a quintessential to survive. New players can draw inspiration from giants like Facebook, Google and Amazon, who constantly upgrade themselves to stay in the market, whereas the giants need to stay on toes and keep a tab of rising competition because acquisitions are no more a way of survival.
– Udisha M.
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