Latest News- Mobile Phone Market: Offline is expected to lead the Distribution Channel segment during 2025-2029

The Mobile Phone Market is being driven by Growing adoption of smartphones

The Mobile Phone Market is expected to grow at a CAGR of 6.8% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 213.9 billion. In the mobile phone market, online sales have experienced a surge due to factors such as convenience, extensive product offerings, and competitive pricing. According to industry forecasts, online smartphone sales are projected to grow substantially during the forecast period, with approximately 45% of total smartphone sales in India being transacted online as of 2020. Major e-commerce players, including Amazon, have facilitated this trend by offering a wide range of smartphones from various brands. Post-pandemic, there has been a notable increase in online sales of mid-range mobile phones. Leading brands, such as Xiaomi Communications Co. Ltd., have capitalized on this trend by targeting their online customer base through initial product launches on e-commerce platforms. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Distribution Channel
  • Offline
  • Online
• Type
  • Smartphone
  • Feature phone
• Price-Range
  • Budget
  • Mid-Range
  • Premium
• Operating System
  • Android
  • iOS
  • Others
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
  • North America
    • Canada
    • Mexico
    • US
  • Middle East and Africa
  • South America
    • Brazil

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Growing adoption of smartphones
• Increasing popularity of multiple-lens camera modules
• Increasing investments towards 5G technology

However, the market also witnesses some limitations, which are as follows:

• Concerns associated with security and privacy with smart phone usage
• Sluggish consumer demand among lower and middle class population
• Ongoing trade wars affecting smartphone sales

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Market Scope in Mobile Phone Market Research Report

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Research Analysis Overview

The Smartphones Market experiences surging demand as mobile handsets evolve into advanced devices, offering Internet-based facilities like iOS, Android, and Windows Phone. Telecom infrastructure development, 5G technology integration, and AI are key drivers. Chipmakers innovate for 5G devices, boosting network development and 5G applications at test sites. Handset design focuses on affordability with budget-centric smartphones, catering to mobile phone users. E-Commerce and m-Commerce thrive, fueled by Internet penetration and social media subscriptions. Entertainment, networking, and mobile communication are primary uses.

Market Research Overview

The smartphone market, a significant segment of the global communications equipment market, is experiencing robust growth due to surging demand for mobile handsets equipped with advanced internet-based facilities such as Artificial Intelligence (AI), 5G technology, and operating systems like iOS, Android, and Windows Phone. This growth is driven by the increasing number of data centers, necessitating improved telecom infrastructure to support escalating data traffic. Telecom service providers are investing heavily to upgrade their networks, fueling the expansion of the communications equipment market. Despite this, the market size excludes revenue generated by mobile phone manufacturers, classified under the Technology Hardware, Storage and peripherals sub-industry.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

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/