NEW
YORK, July 5, 2024 /PRNewswire/ -- The global
smartphone market size is estimated to grow by USD 77.05 billion from 2024-2028, according to
Technavio. The market is estimated to grow at a CAGR of
over 3.43% during the forecast period. Growing adoption
of AI in smartphones is driving market growth, with
a trend towards emergence of sensor fusion technology.
However, ongoing trade wars affecting smartphone sales
poses a challenge. Key market players include Acer Inc.,
Alphabet Inc., Apple Inc., ASUSTeK Computer Inc., Guangdong OPPO
Mobile Telecommunications Corp. Ltd., Honor Device Co. Ltd., HTC
Corp., Huawei Technologies Co. Ltd., Kyocera Corp., Lava
International Ltd., Lenovo Group Ltd., LG Corp., Micromax
Informatics Ltd., Nokia Corp., Samsung Electronics Co. Ltd.,
Shenzhen Transsion Holdings Co. Ltd, Sony Group Corp., TCL
Electronics Holdings Ltd., Xiaomi Communications Co. Ltd., and ZTE
Corp..
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segments, customer landscape, and companies- View the
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Smartphone Market
Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
3.43%
|
Market growth
2024-2028
|
USD 77.05
billion
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
3.31
|
Regional
analysis
|
APAC, Europe, North
America, Middle East and Africa, and South America
|
Performing market
contribution
|
APAC at 51%
|
Key
countries
|
China, India, Germany,
US, and Brazil
|
Key companies
profiled
|
Acer Inc., Alphabet
Inc., Apple Inc., ASUSTeK Computer Inc., Guangdong OPPO Mobile
Telecommunications Corp. Ltd., Honor Device Co. Ltd., HTC Corp.,
Huawei Technologies Co. Ltd., Kyocera Corp., Lava International
Ltd., Lenovo Group Ltd., LG Corp., Micromax Informatics Ltd., Nokia
Corp., Samsung Electronics Co. Ltd., Shenzhen Transsion Holdings
Co. Ltd, Sony Group Corp., TCL Electronics Holdings Ltd., Xiaomi
Communications Co. Ltd., and ZTE Corp.
|
Market Driver
Sensor fusion technology is a crucial innovation in the
smartphone market, allowing devices to combine data from various
sensors for more accurate results. Bosch Sensortec GmbH offers
FusionLib, a 9-axis fusion solution that combines a gyroscope,
geomagnetic sensor, and accelerometer for robust absolute
orientation. This technology is essential for AR applications,
improving position and orientation information by eliminating
individual sensor deficiencies. Sensor fusion solutions enable tilt
compensation, compass calibration, and data correction, fueling the
growth of the global smartphone sensors market. These advancements
contribute significantly to the smartphone industry by enhancing
functionality and user experience.
In the dynamic world of electronic devices, smartphones continue
to dominate the market. Premium class phones with advanced features
like cloud storage, content subscription, and high-speed network
access are in high demand. Disposable cash is a key factor for
mobile phone users looking for entertainment, networking, and
improved telecom infrastructure. 5G gadgets, including 5G chips and
5G network technologies, are the next-generation products driving
growth. Chipmakers and laboratories are engineering institutes'
focus, developing next-generation applications for gaming consoles,
laptops, tablets, and picture processing. Affordable handsets cater
to budget-conscious consumers. Operating systems like Android and
iOS, with application developers creating social media, utility,
lifestyle applications in C++ and Java, fuel innovation. In-app
purchases and subscriptions to courses further enhance user
experience. High-speed data connectivity and integrated IoT
applications complete the package.
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Market Challenges
- Smartphone vendors are investing substantial resources in
exporting devices to seize the global market. However, government
interventions, such as trade bans, can adversely impact this
market. For instance, the US and China, significant players in the global
electronics supply chain, have imposed tariffs on each other,
including smartphones. This has increased the cost of manufacturing
and selling smartphones, potentially reducing sales volumes and
market share for vendors. APAC, the primary market for smartphones,
has been affected due to increasing government regulations on the
movement of electronic commodities. As a result, the shipment of
smartphones from China to other
countries decreased in Q2 2021. The uncertainty surrounding trade
wars and government regulations is expected to hinder the growth of
the global smartphone market during the forecast period.
- The smartphone market faces several challenges in 2021,
according to International Data Corporation. Component shortages,
particularly semiconductors, hinder mobile phone manufacturers'
ability to meet demand. Virtual and augmented reality technologies
require low-power consumption and fast charging capability, adding
complexity. Human-system interaction, digital information, and
connectivity are key for mobile phone usage in automobiles, fleet
management, healthcare devices, and infrastructure security
systems. Mobile sensors, face recognition, and fingerprint
technology are essential hardware features. OEMs and e-commerce
platforms prioritize online shopping, m-commerce, and telecom
industry collaborations. Dual-camera systems, web browsing,
multimedia, and gaming are primary software capabilities.
Governmental assistance and feature phones cater to specific
markets. The technology market continues to evolve, with hardware
and software capabilities shaping the future of consumer
electronics.
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Segment Overview
This smartphone market report extensively covers market
segmentation by
- Technology
- 1.1 Android
- 1.2 IOS
- 1.3 Others
- Price Range
- 2.1 Between USD150-USD800
- 2.2 Greater than USD800
- 2.3 Less than USD150
- Screen Size
- 3.1 Greater than 6 inches
- 3.2 Between 5-6 inches
- 3.3 Less than 5 inches
- Geography
- 4.1 APAC
- 4.2 Europe
- 4.3 North America
- 4.4 Middle East and
Africa
- 4.5 South America
1.1 Android- The Android operating system,
provided by Alphabet Inc. (Google,) is a widely adopted mobile
operating system worldwide. With over 2.5 million apps available in
the Google Play Store, users can download various applications
according to their needs. Key features of Android OS include smart
reply for messaging apps, focus mode options, Wi-Fi sharing via QR
codes, and Google Assistant. Google offers free access to its
search engine, Google Maps, YouTube, and other web services. The
popularity of Android OS is evident as major smartphone vendors,
such as Samsung Electronics Co. Ltd., Huawei Investment and Holding
Co. Ltd., Xiaomi Corp., and BBK electronics (Oppo, VIVO, OnePlus,
and Realme), have adopted it as their OS. In February 2023, Xiaomi, Realme, and OnePlus
launched their new Android OS-based smartphones, the Xiaomi 13 and
13 Pro, Realme 10 Pro Coco-cola edition, and OnePlus 11 and 11R,
respectively. These launches, along with the increasing demand for
Android OS, are expected to boost the growth of the Android segment
of the global smartphone market.
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geographical analysis including forecast (2024-2028) and historic
data (2017-2021) - Download a Sample Report
Research Analysis
The smartphone market is experiencing a surge in growth, driven
by improved telecom infrastructure and the availability of
affordable handsets. Mobile phone users worldwide are embracing the
latest 5G gadgets, powered by advanced 5G chips and 4G network
technologies. Chipmakers are at the forefront of this revolution,
supplying the hardware for these innovative devices. Mobile
handsets now offer a wide range of internet-based facilities and
digital functions, from web browsing and email to social media and
messaging. Android and Windows Phone continue to dominate the
operating system market, with third-party originators offering
budget-centric product launches. The integration of Artificial
Intelligence, 5G technology, and advanced camera capabilities is
transforming the mobile experience, making it more convenient and
enjoyable for users. Governmental assistance and the continued
development of feature phones cater to the needs of the unconnected
population. Overall, the smartphone market is an ever-evolving
landscape of hardware and software capabilities, offering users a
world of connectivity, entertainment, and productivity at their
fingertips.
Market Research Overview
The smartphone market is experiencing significant growth with
the advent of improved telecom infrastructure and the availability
of affordable handsets. Mobile phone users are increasingly turning
to 5G gadgets for high-speed data connectivity and
integrated IoT applications. Chipmakers and laboratories are
at the forefront of developing 5G chips and 5G network technologies
to power these next-generation products. Handset design and
functionality continue to be key considerations, with operating
systems like Android and iOS leading the way. Application
developers are creating innovative solutions for social media,
mobile utility, and lifestyle applications, while C++ and Java
remain popular programming languages. Budget documents and
logistics networks are essential for the timely launch of
budget-centric products. The premium segment is also seeing
innovation with advanced features like AR technology, over-the-top
platform subscriptions, and low-power consumption with fast
charging capability. The telecom sector is also impacted by customs
duties, emissions regulations, and component shortages,
particularly for semiconductor components. Mobile phones are
increasingly being used for various applications, from automobiles
and fleet management to healthcare devices and infrastructure
security systems. Mobile sensors and human-computer interaction are
also areas of focus for technology market growth.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Technology
-
- Price Range
-
- Between USD150-USD800
- Greater Than USD800
- Less Than USD150
- Screen Size
-
- Greater Than 6 Inches
- Between 5-6 Inches
- Less Than 5 Inches
- Geography
-
- APAC
- Europe
- North America
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio