There was a 1:1 ratio between the growth in mobile revenue and the increase in smartphone penetration worldwide during 2008–2013, according to latest figures from Analysys Mason. The company said mobile retail revenue grew at a CAGR of 5 per cent worldwide during 2008–2013, while smartphones' share of the overall handset market grew from 4 per cent to 29 per cent, or by 5 percentage points on average per year. The telecoms research and advisory company said it expects smartphone adoption to continue to drive worldwide revenue over the next five years, although at a lower ratio because smartphone penetration has reached maturity in developed markets. Mobile retail revenue will grow at a CAGR of 3 per cent worldwide during 2013–2018, while smartphones will account for 51 per cent of all handsets in 2018. Overall, mobile retail revenue is expected to reach $1 trillion (€749 billion) in 2018, up from $900 billion in 2013. Report