According to the latest report by IMARC Group, titled “Smartphone Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on smartphone market growth. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global smartphone market reached 1,355 Million Units in 2021. Looking forward, IMARC Group expects the market volume to reach 1,715 Million Units by 2027, expanding at a CAGR of 3.70% during the forecast period (2022-2027).
A smartphone is a mobile device that performs several functions of a computer. It is typically characterized by a touch screen interface, internet access, and an operating system that is capable of running multiple applications. It acts as a communication device, multimedia device, and mini application operating platform.
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We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Smartphone Market Trends:
The global market is primarily driven by the rapid expansion of the e-commerce industry. This, along with the penetration of high-speed internet connectivity across the globe, is positively influencing the market growth. Apart from this, the widespread integration of Artificial Intelligence (AI) technology with smartphones is catalyzing the market growth. Moreover, significant growth in the telecom infrastructure and the rapid deployment of 5G technology on the global level is creating a positive outlook for the market. Additionally, the growing product demand among individuals to facilitate digital payments and the inflating per capita income levels of the masses are providing an impetus to the market growth.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- Apple Inc.
- HTC Corporation
- Huawei Technologies Co. Ltd. (Huawei Investment & Holding Co. Ltd.)
- Lava International
- Lenovo Group Limited
- Nokia Corporation
- Realme Chongqing Mobile Telecommunications Corp. Ltd. (BBK Electronics Corporation)
- Samsung Electronics Co. Ltd.
- Sony Corporation
- TCL Technology
- Xiaomi Corporation
- ZTE Corporation
Smartphone Market Segmentation:
Our report has categorized the market based on region, operating system, display technology, RAM capacity, price range and distribution channel.
Breakup by Operating System:
Breakup by Display Technology:
- LCD Technology
- OLED Technology
Breakup by RAM Capacity:
- Below 4GB
- 4GB – 8GB
- Over 8GB
Breakup by Price Range:
- Ultra-Low-End (Less Than $100)
- Low-End ($100-<$200)
- Mid-Range ($200-<$400)
- Mid- to High-End ($400-<$600)
- High-End ($600-<$800)
- Premium ($800-<$1000) and Ultra-Premium ($1000 and Above)
Breakup by Distribution Channel:
- Online Stores
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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