8 financial applications for mobile phones are forecast to make mobile phones a way of life for nearly 2.2 billion users globally over the next five years. The news comes from research just out by the Insight Research Corporation.

According to the market analysis study, application developers and cell phone companies providing access to these eight mobile financial applications will benefit by nearly $124 billion over the forecast period.

Insight provides market research and strategic analysis for the telecom industry. Telecom carriers, transmission and switching equipment vendors, platform providers, software developers and financial institutions use Insight for strategic telecom information and competitive analysis.

Entitled “The Mobile Phone and Financial Applications Worldwide, 2009-2014,” the report says that the cumulative numbers of users subscribing independently to each of eight selected mobile financial services will more than triple during the period 2009 - 2014.

Many mobile applications such as stock market trading, banking, retail applications, mobile credit cards, mobile bar coding, mobile peer-to-peer applications, and mobile online gambling were studied. Every application comes with a unique set of factors that influence its market acceptance and market prospects even though all the applications run on the same end-user device, the mobile phone.

A free report excerpt, table of contents, and ordering information for “The Mobile Phone and Financial Applications Worldwide 2009-2014,” can be found online at the Insight Research Corporation web site

Robert Rosenberg, president of Insight Research says, “Our analysis suggests that the eight cell phone financial applications covered in this study will be part of the solution. When the current world recession ends, the global financial system will emerge stronger and more tightly integrated, and the cell phone’s new financial transaction capabilities will be a part of the foundation of that recovery.”

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