Smartphone Market Share

Smartphone Market Size and Report Overview

Globally, the size of Smartphone Market is estimated to grow from USD 520.3 billion in 2022 to USD 978.2 Billion by 2030, at a CAGR of 6.80%, during the predicted period driven by The growth of social media platforms such as Twitter and Facebook raised smartphone use. A smartphone is a category of mobile phones differentiated from feature phones by the stronger hardware, software capabilities, and broad mobile operating systems. A huge range of features is available on a smartphone, including multimedia functionality consisting of video, gaming, music, camera, voice calls, video calls, and the internet, including wide software functionalities and web browsing. Different operating systems are used in smartphones, such as iOS, Android, Windows, Blackberry Operating System, and others. Over the years, smartphones have massively progressed. They are combined with innovative technologies with a global positioning system, gyroscope, flash memory, optical fingerprint sensors, near field connectivity, increased reality, virtual reality, etc. 

Due to the Covid-19 situation, all small businesses, medium and big, are facing a downfall in revenue. Specific government rules limit the gathering of people, which hugely disturbs the companies running online. However, with the arrival of vaccination, everything is going back to normal. It is expected that by 2030 things will get back to normal, and business will grow.

The main factors that operate the use of the smartphone market are premium design of smartphone adoption, high disposable income, high internet connectivity use of mobile internet, and increase in population technical approach. Smartphones are radical devices that make every task easy in just a few clicks. Though, smartphones carry a mixture of integrated computers and other features such as web browsing and operating system that makes them exceptionally best.

The rising demand for advanced functions and the spurring growth in the gaming industry accelerate market revenues. Besides, the availability of cost-effective smart technologies boosts market sales. Also, rapid technological upgrades and rising sales of smartphones substantiate the market value. Changing consumer preferences and the sharp rise in the disposable income levels of consumers are the key factors impacting the market growth positively.

Additionally, the proliferation of the internet further fostered smartphone prominence, adding third-party applications and providing limitless functionality. Xiaomi announced that it is launching its new smartphone, Mix Fold 3, in China by Aug.2023. This foldable device has a camera system co-developed in collaboration with the legendary brand Leica. 

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.

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.

Smartphone Market Dynamics:

Market Key Drivers:

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.

Market Key Opportunities:

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 market growth.

Market Key Restraints:

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.

Smartphone Market Segmentation Overview:

Given below is the segmentation of the market-

Smartphone Type Outlook (Revenue, USD Million, 2022-2030):

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.

By type, the smartphone market has been segmented into entry-level, media-centric (navigation, music, gaming, camera, others), and performance smartphones. 

• On Aug.02, 2023, Indian smartphone player Lava launched an entry-level smartphone, Yuva 2. The new smartphone features a 13MP rare view & a 5MP front camera, and a 90Hz refresh rate. Lava Yuva 2 also gets a side fingerprint scanner and auto call recording feature. Lava Yuva 2 runs on a Unisoc T606 octa-core processor with 64GB internal storage and 3GB RAM.


• On Aug 2023, Xiaomi launched Redmi 1 5G smartphone in India for the mid-range segment. The new phone has three storage variants - 4GB RAM+128GB memory expanding the wearables range. The company also launched its latest Redmi 12 series in India, comprising the Redmi 12 4G and the Redmi 12 5G. Both these smartphones will be available for purchase starting from Aug.04 on Mi.com, Flipkart.com, Mi Home & Mi Studio, and authorized retail partners. 


• On Jan 2022, Tencent Games, a leading global gaming company, announced its plan to acquire Xiaomi's BlackShark Gaming division for approximately US$470 million. The acquisition would enable the gaming smartphone maker to undergo a business transformation once the acquisition process is complete. The new deal focuses on cooperation in gaming phones to give users an improved mobile gaming experience.

Smartphone Operating System Outlook (Revenue, USD Million, 2022-2030):

Based on operating systems the smartphone market has been segmented into Android, iOS, and windows.

Smartphone Distribution Channels Outlook (Revenue, USD Million, 2022-2030):

The Smartphone Market is divided based on distribution channels into OEM, retailer, and e-commerce.

Smartphone Input Device Outlook (Revenue, USD Million, 2022-2030):

The division of input devices in the smartphone market is divided into screen and keypad.

Smartphone Region Outlook (Revenue, USD Million, 2022-2030):

Based on the region, the divisions are made into regions namely North America, Asia Pacific, Europe, South America, and the Middle East and Africa.

Smartphone Regional Insights:

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 2022 to 2030, 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.

Smartphone Key Market Player & Competitive Analysis 

The prominent key players of the smartphone market in the global market are mentioned down below-

• 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)


• Panasonic Corporation (Japan) among others.

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.

Recent Industry Developments/News:

Report Overview:

As of 2021, The Smartphone Market is expected to grow from USD 520.3 billion in 2020 to USD 978.2 Billion by 2030, at a CAGR of 6.80%, during the forecast period. The global smartphone market in the global market research report consists of the following elements

Which Are Mentioned Down Below-

• Market Overview


• Covid 19 analysis


• Market dynamics


• Value chain analysis


• Market segmentation


• Regional analysis


• Competitive landscape


• Recent developments

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, statistics, trends, market outlook, industry insights, 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.

Intended Audience:

• System Integrators


• OEMs/ODMs


• Defense System Manufacturers


• Electronic Component Manufacturers


• Service Providers


• Resellers and Distributors


• Consultancy and advisory firms


• Government Agencies


• Consulting Firms


• Research Institutes and Organizations


• Technology Standards Organizations