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The Global Smartphone Market is expected to grow from USD 520.3 billion in 2018 to USD 2297.8 Billion by 2025, at a CAGR of 16.4%, during the forecast period.
A smartphone is a cellular phone that is equipped with a combination of integrated computer and other features such as operating system and web browsing which are not originally associated with its traditional counterpart. Increasing use of mobile Internet, high ownership of premium design smartphone, and high disposable income in developing nation are a few factors that are expected to drive the smartphone market during the forecast period. However, data identity and data theft issues are expected to restrain the market. Smartphones are supported by a mobile operating system which offers advanced computing facilities to the device. A smartphone can also work as a digital media player for music, uploading photos and videos through a single interface.
According to MRFR analysis, globally vendors shipped a total of 310 million smartphone units during the first quarter of 2019. Big players like Samsung Electronics Co Ltd, Apple Inc., and Xiaomi Corporation are expected to dominate the smartphone market during the forecast period. To differentiate their products from competitors, smartphone manufacturers are investing heavily in research and development for incorporating new technologies to launch new and updated products in the market.
In December 2018, Nokia Corporation launched Nokia 8.1, a mid-range smartphone with full HD resolution and HDR 10. This smartphone was developed with Android 9.0 operating system, 4GB RAM, Qualcomm SDM710 Snapdragon 710, and 3500 mAh battery capacity.
In October 2017, Google LLC launched Pixel 2, a premium smartphone with Android 8.0, AMOLED capacitive touchscreen, Qualcomm MSM8998 Snapdragon 835, and 4 GB RAM.
The global smartphone market has been segmented into type, operating system, distribution channel, input device, and region.
By type, the smartphone market has been segmented into media-centric smartphones, entry-level smartphones, and performance smartphones. The media-centric smartphone segment has been classified into music smartphones, navigation smartphones, gaming smartphones, and camera smartphones.
By operating system, the market has been segmented into Android, iOS, and Windows.
By distribution channel, the smartphone market has been segmented into OEM, retailer, and e-commerce.
By input device, the smartphone market has been segmented into touch screen and keypad.
By region, the smartphone market has been segmented into North America, Asia-Pacific, Europe, Middle East and Africa, and South America.
The global market for smartphones is estimated to grow at a significant rate during the forecast period from 2019 to 2025. The geographical analysis of the smartphone market has been conducted for North America, Europe, Asia-Pacific, and the rest of the world.
Asia-Pacific is expected to dominate the smartphone market during the forecast period due to a large number of consumers buying smartphones, the presence of global players, and large presence of telecom industries. North America occupied the second position in the smartphone market due to the adoption of the latest technologies and the presence of global players such as Applie Inc. and Google LLC. Europe is expected to grow at a stable rate. During the forecast period, the major players may strengthen their presence worldwide through mergers and acquisitions of local and regional players for expanding their solutions portfolio and expanding in untapped geographies. The improvement of the global economic scenario combined with ongoing advances in technology in the emerging economies such as India, South Africa, China, Brazil, Argentina, and other under-developed countries, is likely to fuel the market growth, making it an ideal time for the key vendors to expand the market geographically and increase market share
The global smartphone market is characterized by the presence of a number of global, regional, and local vendors who compete in terms of cost, product quality, reliability, and aftermarket services. The market is highly competitive with the players actively competing to gain market share. However, intense competition, rapid advances in connectivity technology, frequent changes in government policies, and environmental regulations are key factors that may limit the market growth.
The prominent players in the smartphone market are Samsung Electronics Co. Ltd (South Korea), Apple Inc. (US), Google LLC (US), Xiaomi Corporation (China), Lenovo Group Limited (China), OnePlus Technology Co., Ltd (China), Microsoft Corporation (US), Nokia Corporation (Finland), Huawei Technologies Co. Ltd (China), Guangdong OPPO Mobile Telecommunications Corp., Ltd (China), Vivo Communication Technology Co. Ltd (China), HTC Corporation (Taiwan), Sony Corporation (Japan), ZTE Corporation (China), LG Electronics Inc. (South Korea), and Panasonic Corporation (Japan) among others.
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