The global mobile phone industry is expected to reach over a trillion dollars in 2015, reported telecoms analyst Ovum.

The market is expected to reach $1089 billion a year later than predicted which is an indicator of the impact of the global financial crisis as well as of a rapidly maturing mobile market.

Steve Hartley, principal analyst at Ovum said, “The days of high growth in the mobile market are ending. Every region has shown a marked slowdown in revenue growth between 2008 and 2009 and the result is that we now expect $1089 billion revenue worldwide in 2015, compared with 2014 in our previous forecasts.”

Ovum’s report, ‘Global mobile market outlook: 2010-2015′ also reveals the expectation that the predicted maturation will initiate increased competition among mobile providers, leading to a more cost-focused outcome.

In terms of mobile services, growth in data services will continue with total global data revenues anticipated to reach $428 billion in 2015. Although huge data growth is expected in North America and Western Europe, Asia Pacific will be the largest contributor of data services.

Additionally ‘voice’ will remain a top contributor to mobile operator revenues with Asia Pacific voice revenues expected to account for 57% of total mobile revenues in 2015.