ID: MRFR/SEM/6693-HCR | February 2021 | Region: Global | 111 pages
The 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 which is equipped basically with a combination of integrated computer and many other features which involves operating system and web browsing. These features are associated with their traditional counterparts. The increasing use of smartphones is due to high disposable income in developing Nations, other factors involve high ownership of premium design smartphones as well as internet connectivity.
Covid 19 Analysis:
Due to the situation of Covid-19, all businesses small, medium, and big are facing a downfall in revenue. Certain government norms restrict the gathering of people which hugely affects the businesses running online.
The 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. However, the vaccination drive may soon get everything back to normal. It is expected that by 2022 things will get back to normal and business will flourish.
The major factors that drive the use of the smartphone market are high disposable income, premium design of smartphone adoption, high internet connectivity use of mobile internet, increasing population technical approach. Smartphones are revolutionary devices that make every task easy in just a few clicks. However, smartphones carry a combination of integrated computers and other features such as operating system and web browsing that makes them exceptionally the best.
Factors that provide opportunities for the growth of the smartphone market are an increasingly young population, the need for a device to stay connected, browse the internet, click pictures, use social media, etc. All these tasks can be easily performed with the use of smartphones in just a few clicks, smartphones come in handy. Identities include smart smartphone manufacturers and their investment heavily in research and development to incorporate new technologies which are attracting customers. New launches and updated products in the market hype up the need to have the latest version of the smartphone. These are some of the opportunities that contribute to the smartphone market growth.
The smartphone market growth is however declining due to a few factors. These factors include data identity and data theft issues which affect the growth of the smartphone market. The interface usually doesn't function smoothly due to a load of work such as digital media player from music, loading photos, and videos through a single interface.
Value Chain Analysis:
The benefits of having smartphones include web browsing, calling, music playing, video making, blogging, article writing, presentation making, video calls, using social media, marketing, etc. All these functions are performed by one single smartphone and hence become a vital part of human life.
Given below is the segmentation of the smartphone market-
Based On The Type:
Based on the time the smartphone market is bifurcated into media-centric smartphones, entry-level smartphones, and performance smartphones. The media-centric smartphone segment is classified into gaming, music, navigation, and camera smartphones.
Based On The Operating System:
Based on operating systems the smartphone market has been segmented into Android, iOS, and windows.
Based On The Distribution Channels:
The Smartphone Market is divided based on distribution channels into OEM, retailer, and e-commerce.
Based On The Input Device:
The division of input devices in the smartphone market is divided into screen and keypad.
Based On The Region:
Based on the region, The divisions are made into regions namely North America, Asia Pacific, Europe, South America, and the Middle East and Africa.
Based on region the smartphone market is divided into the Asia Pacific, North America, Europe, South America, and the Middle East, and Africa.
The region of Asia Pacific is segmented into countries of India, China, Indonesia, etc. The smartphone market in the region of Asia Pacific experiences high growth due to factors such as increasing per capita and come in the region, the presence of a massive population within increasing disposable income, and also there is a growing interest in the population to use new technologies and services. Companies such as Jio, Airtel, etc. In India, they are slowly adding up to the adoption of smartphones and also increasing their demand by providing data at the lowest cost possible.
The region of North America and Europe are among the countries which witnessed a bit of decline in revenue and shipment. This downfall is due to the maturity in the market, however, the growth is still witnessed in the smartphone repair market as customers do not frequently like changing their old smartphones in these regions. However, there are some regulations and rules implemented by the government to drop the roaming charges from all the networks which have held it to minimize communication costs for the consumers.
The Middle East and Africa are expected to show some increasing growth from 2020 to 2028, This is followed by the region of South America. The factors for such increasing growth are due to growing network coverage in rural areas, and increasing the affordability of mobile devices and tariffs.
The prominent key players of the smartphone market in the global market are mentioned down below-
All these prominent key players play a major road in the dynamics and growth of the smartphone market. These major key players opt for many strategies and policies to widen their customer base. These policies and strategies mainly include collaborations, mergers, acquisitions, extensions, joint ventures, establishments, new production processes, innovations, technology widening the existing products, partnerships, etc. All these important methods are opted to get the needs of customers and develop a strong potential growth base.
New developments are made in the global smartphone market in the field of in-flight connectivity. It follows various new trends which have been successfully introduced.
Advancements are made in the introduction of high-speed 5G networks which are adopted by the majority of the population.
Advancements made in the adoption of augmented and virtual reality. This simply paved the way for adopting artificial intelligence technology. Artificial intelligence is trending and hence telecom companies are helping in the automation and betterment of customer interactions and back and operations.
Some of the services have improved and are innovative such as chatbots, predictive maintenance, etc.
Also, there are developments made in the adoption of biometrics which has provided better security of all the personal data. Personal data is secured in more smartphones and users can benefit from this feature.
As of 2020, The 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. The global smartphone market in the global market research report consists of the following elements
which are mentioned down below-
In the global smartphone market research report, there are major factors that drive the growth of the market. The report consists of opportunities that may further in the future and hands the global market of the smartphone. Various factors restrain the growth of sugar-free confectioneries and hamper the development of such a fine-based market. The research report also consists of various analyses based on Covid 19 impact market dynamics, different segmentations, regional analysis, etc. This research report also consists of various strategies and policies followed by the major key players that drive the smartphone market. The future growth rate is also discussed and mentioned in this research report.
Frequently Asked Questions (FAQ) :
By 2025, the smartphone market can strike 16.4% CAGR and value at USD 520.3 Bn.
Samsung Electronics Co. Ltd (South Korea), Google LLC (US), Apple Inc. (US), and Xiaomi Corporation (China) are some reputed names in the smartphone market.
Types of smartphones are; entry-level smartphones, media-centric smartphones, and performance smartphones.
Price drop of smartphones due to high sales can impel the growth of smartphone market.
The penetration of e-commerce to cause the smartphone market in APAC to boom.
According to market research future (MRFR), The 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.
Big players like Samsung Electronics Co Ltd, Apple Inc., and Xiaomi Corporation are expected to dominate the smartphone market during the forecast period