![]() ![]() SMARTPHONE MARKET REPORT COVERAGE:īy Operating System, Distibution Channel, and Region The cases of smartphone adoption are very high among the urban population compared to the rural population and therefore there is a high demand for smartphones in developed regions (where the proportion of urban and rural population is higher than in developing regions). The increase in disposable income increases the likelihood that consumers will spend on mobile media, entertainment, networks and communications leading to increased sales potential for consumer electronics such as smartphones, tablets, laptops and game consoles. Smartphones are the most common electronic devices nowadays because of a change in people's lifestyles where having a smartphone has become a norm. This takes into account the growing share of e-commerce and the changing attitude of consumers towards online shopping. Furthermore, participation could be lost to other categories such as fashion and consumer goods, home products, among others, in regions with high penetration of smartphones.However, in regions like India where smartphone sales do not appear to be declining, smartphone companies such as Xiaomi, Samsung, Vivo and Oppo are aggressively expanding their offline stores in the Indian smartphone market to take advantage of the market opportunity.Online smartphone sales have also been boosted by the holiday shopping culture in all regions. E-commerce websites like Amazon are attracting users with various deals and discounts on smartphones, which improved the culture of online shopping. Smartphones are becoming an important part of retail sales as they become more and more part of consumers' lives.Online smartphone sales may be challenged by offline push in future The demand is likely to resume to its previous stage post recovery of coronavirus pandemic. According to a report, there is a 15.7% year-on-year decrease in unit shipments from 331.8 million in the second quarter of 2019 to 279.7 million in the second quarter of 2020. However, due to the COVID-19 outbreak, smartphone shipments have seen a declining phase as countries continue to face the pandemic. This new platform maximizes the power of 5G with improved performance to deliver faster and more efficient on-device processing with sharper images through improved graphical rendering. In July 2020, Samsung Electronics launched its the Galaxy Z Flip 5G, which is the first device in Samsung's Galaxy line that comes with a Qualcomm® Snapdragon™ 865 and 5G platform.The phone is available in market with features like a 6.53-inch touchscreen, 1080 pixels by 2340 pixels resolution at 394 pixels per inch (PPI). In August 2020, Xiaomi introduced a new variant, namely Redmi 9 Prime.To take full advantage of opportunities, market sellers must focus more on growth prospects in fast-growing segments, while maintaining their positions in slow-growth segments. While the increasing adoption of artificial intelligence in smartphones will offer immense growth opportunities, the growing cycle of smartphone replacement will challenge the growth of market players. According to Ericsson, the number of 5G mobile subscriptions in North America will reach 325 million compared to 3 million in 2019. However, 5G phones and foldable phones are likely to present them with new opportunities. ![]() With more than 50% penetration across all regions, the replacement cycle is expanding, leading to lower unit sales, especially in areas like the United States and China, among others. Smartphones used for industrial purposes or rugged phones are not included in the scope. Smartphones, with robust hardware capabilities, extended mobile operating systems, facilitating broader software applications, the Internet and multimedia functions (music, videos, and games), as well as basic phone functions such as voice calls and text messages are included in the scope. The global smartphone market was valued at USD 378.29 billion in 2020 and is anticipated to reach USD 493.13 billion by 2026, with a CAGR of 6.85% during the conjecture period 2022 - 2027. Smartphone Market Size & Growth (2021 – 2026) ![]()
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