Global Smartphone Market Research Report: By Type (Media-Centric (Music, navigation, Gaming, Camera), Entry Level, Performance), By Input Device (Touchscreen, Keypad), By Operating System (Android, iOS, Windows), By Distribution Channel (OEM, Retailers, e-Commerce) – Forecast till 2025
The Global Smartphone Market is expected to grow from USD 520.3 billion in 2018 to USD 2297.8 Billion by 2025, at a CAGR of 16.4%, during the forecast period.
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Smartphones are objects of our daily lives that were once considered a luxury but now are in possession of almost every individual on the plant, linking them in a seamless manner. The obsession with this technology is expected to grow further at an alarming rate in the coming years. Since the earlier period, smartphones have altered the manner in which we live our lives. They are present in almost every area of our lives, whether it’s checking the weather to operating a business; the human race has become reliant on these little controlling devices to fulfill our tasks on a daily basis with no difficulty. The introduction of the smartphone in our daily lives has done away with certain things such as letters, calculators, and phonebooks, to name a few that have become obsolete in human society. Smartphones have time and again changed to better meet our rising needs in the shape of quicker wireless connections, sharper images, and superior memory storage, to name a few.
The real smartphone revolution is believed to have started when Steve Jobs revealed the first iPhone. The previous phones, which had up until then been dependant on keypads and could work a simpler version of the internet. The iPhone’s huge touchscreen (at that time) could browse through websites similar to a desktop computer, all the while looking sleeker than anything customers had previously used before. The promise of 5G networks for the year 2020 suggest even quicker speeds and augmented bandwidth that many people think may facilitate the ushering in of life-changing technologies like virtual reality training, real-time telemedicine, and really smart cities. For instance, the critical telecom carriers in the European region have decided to reveal smartphone location data with the European Commission in order to improve on tracking the range of the coronavirus cases. The commission has said it will collect the location data anonymously in order to guard the confidentiality of users. The information will be used to organize measures such as the delivery of medical equipment, the location of quarantined patients, and more. The data is expected to be deleted after the emergency is over.
However, the evolution of smartphones seems a given, and development be more on the lines of what consumers want, such as the incorporation of useful features to validate the escalating cost. The futuristic phones are expected to flaunt flexible displays. Companies such as Motorola and Samsung have already gotten off to running start in regard to the launch of their respective models featuring foldable displays. But more many other companies in this market depends on how they navigate the next few years. Currently, foldable phones are primarily regarded as motivating gimmicks, but ones that the majority of people wouldn’t consider this as their next phone.
Regional Analysis
The geographical analysis of the smartphone market has been studied for North America, Europe, Asia-Pacific, and the rest of the world.
Asia-Pacific is expected to dominate the smartphone market during the forecast period. The market in Asia-Pacific has been segmented into China, Japan, India, South Korea, and the rest of Asia-Pacific. Growing population, rich presence of telecom companies, presence of global mobile manufacturers such as Samsung Electronics Co. Ltd, Xiaomi Corporation, and Sony Corporation among others are expected to drive the smartphone market in Asia-Pacific.
The market in North America is expected to witness the highest CAGR during the forecast period. In North-America, Google LLC, Apple Inc., Microsoft Corporation, and CAT are expected to drive the smartphone market.
The rest of the world includes South America, the Middle East, and Africa. Among these, the market in the Middle East is expected to register the highest CAGR during the forecast period due to the increasing demand for luxury smartphones.
Segmentation
According to Market Research Future, the market for smartphones has been segmented on the basis of type, operating system, distribution channel, input device, and region.
A smartphone is a cellular phone that runs on an operating system and functions as a portable version of a computer. The smartphone also operates as portable digital media player, video camera, and navigational device. The operating system provides various features such as access to web pages and faster web browsing using 4G and 3G data networks and Wi-Fi support, along with mobile broadband, files download, games and movies, with the fundamental feature of communication with the help of messages and video chats. Currently, smartphones are widely used in Asia-Pacific, Europe, and North America.
Based on distribution channel, the market has been segmented into OEM, retailer, and e-commerce. The e-commerce segment is expected to dominate the distribution channel segment. However, retailers segment is expected to grow at the highest CAGR during the forecast period.
Based on input device, the market has been segmented into touch screen and keypad. Touch screen market is expected to dominate the input device segment during forecast period.
Key Players
The prominent players in the smartphone market are 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), and Panasonic Corporation (Japan) among others.
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