The Smartphone Market is being driven by Growing adoption of AI in smartphones
The Smartphone Market is expected to grow at a CAGR of 4.1% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 99.8 million. In the dynamic and competitive smartphone market, sensor fusion technology plays a pivotal role in enhancing device functionality and user experience. By combining sensory data from distinct sensors, such as gyroscopes, compasses, and accelerometers, sensor fusion enables precise calculations of elevation, linear translation, gravity, direction, and rotation. Efficient interoperability between sensors is crucial, and vendors, like Bosch Sensortec GmbH, are continuously innovating with algorithm solutions, such as FusionLib, to ensure seamless integration and improved accuracy. This fusion technology is essential for delivering advanced features and superior performance in today's sophisticated smartphones.
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The market is segmented based on segments_for_ai.nslist
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
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Report Coverage |
Details |
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Page number |
223 |
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Base year |
2024 |
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Historic period |
2019-2023 |
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Forecast period |
2025-2029 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.1% |
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Market growth 2025-2029 |
USD 99.8 million |
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Market structure |
Fragmented |
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YoY growth 2024-2025(%) |
3.9 |
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Key countries |
China, US, India, Germany, Canada, UK, Japan, France, South Korea, and Brazil |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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The Smartphone Market is witnessing significant growth due to advanced telecom infrastructure, affordable handsets, and the increasing number of mobile phone users. The launch of budget-centric 5G gadgets, powered by 5G chips and 4G/5G network technologies, is driving the demand for high-speed internet-based facilities and digital functions. Chipmakers are at the forefront of this revolution, producing hardware and software capabilities for mobile handsets. Android and Windows Phone dominate the market, with third-party originators introducing innovative features. Telecom infrastructure receives governmental assistance, enabling 5G technology to enhance web browsing, music, video, gaming, and camera capability experiences for users.
The Smartphone Market, a significant segment of the global Technology Hardware, Storage, and Peripherals Market, is experiencing substantial growth. Key drivers include enhanced telecom infrastructure, the availability of affordable handsets, and the increasing number of mobile phone users. Moreover, the emergence of 5G gadgets, 5G chips, and 4G network technologies are propelling market expansion. Chipmakers, laboratories, engineering institutes, and logistics networks are collaborating to develop next-generation products and 5G applications. According to Technavio, this market growth is reflected in the increasing revenue from sales of hardware devices, equipment, and components, as outlined in budget documents and business plans.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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