Smartphone Market, Size, Global Forecast 2024-2030, Industry Trends, Share, Growth, Insight, Impact of Inflation, Company Analysis

Smartphone Market, Size, Global Forecast 2024-2030, Industry Trends, Share, Growth, Insight, Impact of Inflation, Company Analysis

Global Smartphone Market size is anticipated to reach US$ 777.52 Billion by 2030, as consistent with Renub Research. Telecommunications is a rapidly developing industry. The Internet of Things (IoT) is converting how people stay and communicate. The connection among smartphones and different devices is remodeling daily routines. Smartphones combine traditional smartphone capabilities with superior computing capabilities, internet connectivity, and diverse applications. They are transportable and handy, making it easy for customers to multitask. Communication features which includes text messaging and video calls are available. Smartphones have a touchscreen interface for consumer interplay, supported by software program applications that can be downloaded and installed to extend the device's functionality.

Smartphones can offer numerous offerings, inclusive of multimedia music, videos, games, images, voice and video calls, internet surfing, and software program capabilities. Various operating systems can be applied on smartphones, inclusive of iOS by Apple, Android by Google, Windows with the aid of Microsoft, Blackberry Operating System, and others. With the increasing popularity worldwide of social networking web sites like Facebook, Instagram and Twitter, the use of smartphones has also increased.

Global Smartphone Market will amplify at a CAGR of 6.23% during 2024-2030

Introducing 5G networks and 4G LTE technology in numerous developing nations is anticipated to reinforce smartphone sales in those countries. Consequently, several smart phone manufacturers consciousness on launching 5G handsets to cater to the increasing demand for 4G and 5G smartphones amongst tech-savvy consumers. As the demand for 5G handsets grows, prices for 4G smartphones are expected to decrease, main to an uptick in sales volume. The growing demand for lower priced smartphones is expected to be fueled by developing countries including India, China, and Indonesia. These nations are quickly expanding their mobile and digital economic system, even in rural areas. For example, the Digital India initiative, a flagship software of the Indian authorities, aims to transform the country into digitally empowered society.

The rising internet penetration is driving the global Smartphone market share. Moreover, people are having access to the internet, and smart phones have become indispensable equipment for connectivity and online activities, influencing market boom. From social media engagement to e-commerce, content streaming, and communication apps, smartphones offer handy and on-the-go access to numerous online offerings. Apart from this, the substantial product adoption amongst buyer for the ease of being linked is accelerating smartphone global market share growth, especially in emerging markets. As a result, leading manufacturers target these developing markets, supplying lower priced devices with net capabilities to cater to the increasing customer base looking for on line connectivity.

The disposable income of people across the globe has been on the upward thrust recently, ensuing in a more chance of consumers spending on diverse forms of media, entertainment, mobile communication devices, and networking. As a result of this trend, the sale of digital gadgets inclusive of smartphones, laptops, tablets, and gaming consoles has visible a huge surge in recent times. The global smartphone market became worth US$ 509.28 Billion in 2023.

Android Smartphones will have half of the market proportion

By Operating System, the Global Smartphone Market is divided into iOS Smartphones, Android Smartphones, and Others. Android smartphones stay dominant inside the worldwide smartphone enterprise, preserving their strong foothold. This is due to several factors, consisting of the open-source nature of the operating system, the availability of numerous device models, and the user-friendly interface. Android has always captured a tremendous market percentage, and the huge array of apps at the Google Play Store in addition cements its reputation. The customization options and affordability of android devices are mainly liked with the aid of customers, contributing to their sustained recognition. Android improves and adapts as technology evolves, making sure its unwavering dominance in the smart phone market. Its resilient and influential presence shapes customers' alternatives throughout various regions.

E-commerce accounts for the majority of the market revenue in the smartphone industry

By Distribution Channel, the Global Smartphone Market is segmented into OEM Stores, Retailers, and E-Commerce. E-commerce commands the majority of market sales within the smartphone industry, marking a paradigm shift in consumer buying behavior. The convenience of online shopping, an extensive product range, and competitive pricing have propelled e-commerce platforms to the leading edge.

More and more consumers are opting for the convenience of looking for smartphones online, thanks to rapid delivery alternatives and a hassle-free browsing experience. This shift in preference reflects the changing habits of consumers and the growing reliance on digital market for purchasing tech products. As e-commerce continues redefining the smartphone retail landscape, its majority proportion in market sales shows a sustained trend in the industry.

Rising per capita income and internet penetration will drive the Chinese phone industry

By Country, Global Smartphone Market is split into North America (United States, Canada), South America (Mexico, Brazil), Europe (United Kingdom, Germany, France, Italy, Spain, Netherlands), Asia Pacific (China, Japan, India, South Korea, Australia), Middle East & Africa (South Africa, United Arab Emirates) and Rest of the World. China has grown to be the world's second-largest economy in recent decades, expanding its reach throughout numerous industries. The smartphone market has been the leading distinguished example of this increase, with China production some of the world's leading smartphones. This trend is expected to keep in the upcoming years, with China at the forefront of world 5G adoption. Chinese customers show more enthusiasm for upgrading to 5G than any other market, as evidenced with the aid of the growing percentage of 5G device sales in mainland China.

The US smartphone market is thriving due to technological innovation and the integration of AI, IoT, and 5G technology. Additionally, manufacturers are specializing in sustainability and prolonging the lifespan of devices. The remote work culture is driving the demand for larger screens and improved collaboration tools, and ecommerce and mobile payment are transforming how buyer shop and make transactions.

Key Player

Nokia, Sony Corporation, Samsung, Huawei Device Co Ltd, LG Display, Panasonic Corporation, Lenovo, HTC Corporation, and Blackberry are the main players within the Global Smartphone Market.

Renub Research report titled “Smartphone Market Global Forecast by Operating System (iOS Smartphones, Android Smartphones and Others)Distribution channel (OEM Stores, Retailers and E-Commerce), Country (North America (United States, Canada), South America (Mexico, Brazil), Europe (United Kingdom, Germany, France, Italy, Spain, Netherlands), Asia Pacific (China, Japan, India, South Korea, Australia), Middle East & Africa (South Africa, United Arab Emirates) and Rest of the World), Company Analysis (Nokia, Sony Corporation, Samsung, Huawei Device Co Ltd, LG Display, Panasonic Corporation, Lenovo, HTC Corporation, Apple Inc. and Blackberry)” provides a detailed analysis of Global Smartphone Industry.

Operating System – Market breakup from 3 Viewpoints:

1. iOS Smartphones
2. Android Smartphones
3. Others

Distribution Channel – Market breakup from 3 Viewpoints:

1. OEM Stores
2. Retailers
3. E-Commerce

Country – Market breakup from 18 Countries Smartphone Industry Viewpoints:

1. North America

1.1 United States
1.2 Canada

2. Latin America

2.1 Mexico
2.2 Brazil

3. Europe

3.1 United Kingdom
3.2 Germany
3.3 France
3.4 Italy
3.5 Spain
3.6 Netherlands

4. Asia Pacific

4.1 China
4.2 Japan
4.3 India
4.4 South Korea
4.5 Australia

5. Middle East & Africa

5.1 United Arab Emirates
5.2 South Africa

6. Rest of the World

All the Key players have been covered from 3 Viewpoints:

• Overview
• Recent Development
• Revenue Analysis

Company Analysis:

1. Nokia
2. Sony Corporation
3. Samsung
4. Huawei Device Co., Ltd.
5. LG Display
6. Panasonic Corporation
7. Lenovo
8. HTC Corporation
9. Apple Inc.
10. Blackberry