The mobile web is taking off faster than the desktop internet did and will overtake the desktop web within the next five years, according Morgan Stanley analyst Mary Meeker. She says growth is driven by five key trends: 3G mobile networks, social networking, internet video, voice-over-IP and top-of-the-range mobile devices.
Meeker believes investment opportunities can be identified by studying Japan, which she says is years ahead of the rest of the world in terms of mobile web adoption. In Japan some 66% of mobile web revenue is from data access, 21% is from e-commerce, 11% is generated by paid services and only 2% comes from mobile advertising.
Meeker claims the success of the iPhone and Android OS, and their corresponding app ecosystems, have allowed Silicon Valley to reclaim the lead in mobile innovation. The pace of mobile innovation is described by Meeker as "unprecedented, I think, in world history". It is also her belief that consumer companies are taking the lead over enterprise companies.
Meeker was dubbed the "Queen of the Net" by Barron's magazine in 1998. She oversaw the Netscape and Google IPOs and is now the head of Morgan Stanley's global technology research team.
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