"The smart buyers seem to be the leading operators in emerging markets moving to leverage their market capitalisation and cash reserves to acquire operations in 'developed world' markets."
The report also states that the steadily falling cost of mobile technology has driven an increase in its functionality.
However, McCall points out that the incorporation of new functionality in an old product will not automatically drive value creation.
He believes that the mobile industry's attempt to develop specific applications and combinations of mobile handsets and GPS may just prove this point.
According to McCall, GPS technology used in Australia is well on its way to becoming a mainstream success.
Also this week S2 Intelligence Pty Ltd, released The Future of Business 2008 - 2018.
The author, Dr Bruce McCabe, said by 2010 video will invade every aspect of working life.
In many occupations, from service technicians to construction workers, wearable digital cameras will run continuously through the workday.
Moreover, six out of 10 workers will have stopped deleting documents, files, images and recordings, and will keep everything as an indexed, searchable extension of their memory, for the rest of their life.
Five years from now, McCabe said the majority of call centre workers will be measured not just on volume of calls but by machines that listen in and interpret the customer satisfaction in their conversations.
Leading governments will prepare new legislation using Wikis and beware the next Y2K is coming.
"Within two years, most big businesses will be on their way to spending three times as much on systems for carbon accounting and sustainability reporting compared to what they spent on Y2K," McCabe said.
The 180 page report contains 500 predictions and draws on over 800 interviews and 2,000 secondary sources.
In addition to the changing tech landscape, new research from Compass Intelligence predicts an economic slowdown which will lower business expenditures on IT products and services.
Annual spending growth on services will decline from 5.3 per cent growth in 2007 to 3.9 per cent growth in 2008.
The slowdown is expected to be temporary and by 2009, growth should increase to 4.8 per cent.