Morgan Stanley has released a couple of bulky documents about the mobile Internet: 'The Mobile Internet Report,' a 424-page report which explores eight major themes; and 'The Mobile Internet Report Key Themes,' a 659-slide
presentation that drills down on thoughts covered in the report. We've embedded both documents below.
Perhaps the most remarkable statement in the report is that the Mobile Internet market will be "at least 2x size of Desktop Internet," which Morgan Stanley bases on analysis comparing Internet users with mobile subscribers.
The report starts out by saying that Apple's iPhone/iTouch/iTunes ecosystem "may prove to be the fastest ramping and most disruptive technology product / service launch the world has ever seen." It goes on to state that "a handful of incumbents (like Apple, Google, Amazon.com and Skype) appear especially well positioned for mobile changes."
Growth in the Mobile Internet is being driven by 3G adoption and the increasing popularity of smartphones, of which the iPhone is the leader in terms of Web traffic. Morgan Stanley predicts that smartphones "will out-ship the global notebook + netbook market in 2010E and out-ship the global PC market (notebook + netbook + desktop) by 2012E."
The firm has always been bullish on mobile Internet, as Mary Meeker's Web 2.0 conference presentations over the years show. See also our analysis of Meeker's 2009 Web 2.0 presentation.
The reports are far too big to summarize here, so we recommend you read them below - or download from Morgan Stanley's website.
The Mobile Internet Report Setup