The smartphone market share will post incremental growth of USD 226.17 million units, progressing at a CAGR of 3.44% during the forecast period. The increasing adoption of premium smartphones in emerging countries will offer immense growth opportunities to market vendors. The market is fragmented, and the vendors are deploying growth strategies such as low-pricing strategies and strengthening the local customer base to compete in the market.
Technavio’s report on the “Smartphone Market” provides a detailed analysis of the prevalent market forces, trends, and challenges likely to impact the market in focus. The report includes historic market data from 2017 to 2021. In 2017, the market increased at USD 226.17 million units.
Browse Technavio's 191-page report and in-depth TOC on "Smartphone Market by price range (between $150-$800, less than $150, and greater than $800), technology (Android, iOS, and others), screen size (between 5-6 inches, greater than 6 inches, and less than 5 inches), and geography (APAC, Europe, North America, Middle East and Africa, and South America)."
View detailed Table of Contents Here: https://www.technavio.com/report/smartphone-market-industry-analysis
The smartphone market is segmented by price range (between $150-$800, less than $150, and greater than $800), technology (Android, iOS, and others), screen size (between 5-6 inches, greater than 6 inches, and less than 5 inches), and geography (APAC, Europe, North America, Middle East and Africa, and South America).
The growth of the smartphone market size in the between $150-$800 segment will be significant during the forecast period. new product launches are expected to drive the growth of the $150-$800 segment of the global smartphone market during the forecast period.
APAC is estimated to contribute 66% to the growth of the global market during the forecast period. The growth of the smartphone market in the region is also driven by various other factors, including the development of telecom infrastructure and the emergence of budget-centric smartphones.
The increasing adoption of premium smartphones in emerging countries will directly influence the sales of smartphones. In addition, the increasing online purchases of smartphones is one of the major smartphone market trends that will positively impact the market growth. However, factors such as the ongoing trade wars affecting smartphone sales will hamper the smartphone market growth.
The market is fragmented due to the presence of several players. Some of the major smartphone market vendors are Acer Inc., Alphabet Inc., Apple Inc., ASUSTeK Computer Inc., Guangdong OPPO Mobile Telecommunications Corp. Ltd., Honor Device Co. Ltd., HTC Corp., Kyocera Corp., Lava International Ltd., Lenovo Group Ltd., LG Corp., Micromax Informatics Ltd., Nokia Corp., Samsung Electronics Co. Ltd., Shenzhen Transsion Holdings Co. Ltd., Sony Group Corp., TCL Electronics Holdings Ltd., Xiaomi Communications Co. Ltd., ZTE Corp., and Huawei Technologies Co. Ltd.
To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
Download the Free PDF sample report for highlights on the market size, growth momentum, regional growth opportunities, vendor analysis, and other factors influencing the market growth.
Precise market size estimation during the forecast period 2023-2027.
CAGR of the smartphone market forecast during 2023-2027.
Market-level data on units, average selling prices, and values of the smartphone market share.
Prediction of the upcoming trends, drivers, and factors that challenge the growth of the smartphone market.
Smartphone industry growth across APAC, Europe, North America, Middle East and Africa, and South America.
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