European Mobile Market Predicted to Grow 2.35% over next four Years

Industry researcher RNCOS predicts in its report, “European Mobile Market Scenario 2012”, that the mobile subscriber base in Europe will grow at a CAGR (compound annual growth rate) of nearly 2.35% from 2008 to 2012.

Young people and city dwellers make up the largest mobile phone demographic. Mobile penetration among European consumers aged between 12 and 24 reached 84% in 2006. Young mobile customers want technologically-advanced devices so they can download music, change ringtones, send multimedia messages and access the Internet. The report notes that young Europeans are the prime buyers of technologically-advanced mobile phones and constitute a large part of the potential consumers across Europe.

The rapidly expanding 3G subscriber base is noted as an area of great interest. The report predicts that 3G consumer reticence to use available services will be opened in the future because operators are creating more innovative and consumer-friendly business models and pricing strategies.