The global smartphone market is witnessing incremental growth opportunities owing to the rising demand for electronic devices. The above information was shared by Fortune Business Insights in a report, titled “Smartphone Market Size, Share and Global Trend By Operating System (Android, Windows, iOS and Other), By Price (High Range, Medium Range, Low Range), By Ram Size (Below 2GB, 2GB-4GB, Up to 8GB), By Distribution Channel (Online, Offline, Multi-brand, Single Brand) and Geography Forecast till 2025.” The demand for smartphones is increasing at a rapid pace as people look for improved connectivity on the go.
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Smartphones usage can offer integration with other platforms by allowing installation of apps such as Skype, WhatsApp, Duo among others. These platforms help users to make instant video calls, email and other purposes. The analysts in the report say that internet penetration is increasing in developing and developed nations. This, in turn, is expected to increase the global smartphone market revenue in the forecast years.
Rising Interest Among Users to Adopt New Technologies Drives the Market in Asia Pacific
The market in countries such as Indonesia, China is anticipated to rise at a high growth rate in the forecast years. This will further increase the smartphone market size in Asia Pacific. The rising disposable income and growing population in this region are likely to encourage smartphone market growth. People in Asia Pacific are increasingly using new technologies and services, which is expected to stoke demand for smartphones in the projected horizon.
Furthermore, telecom companies such as Airtel, Jio among others introduce disruptive data tariffs in India. Influenced by this, the adoption of the smartphone is likely to increase in Asia Pacific. Telecom manufacturers introduce new tariffs and smartphones at low prices, which is fuelling demand for smartphones in India. These factors are expected to drive the market during the forecast period.
The smartphone market revenue in Europe and North America is expected to witness a decline in shipment. This is ascribable to the smartphone maturity stage in these regions. On the other hand, smartphone repairs market is likely to witness growth in these regions. Users don’t frequently change their phones, they instead repair, which is driving this market.
Top Players List:
- Panasonic USA
- Samsung Electronics
- LG Electronics
- ONE PLUS
- Huawei Technologies
- Motorola Solutions
Declining Prices of Camera Lenses and Sensors Stimulate Growth in the Market
The report highlights some of the developments and trends in the global smartphone market. These developments give tailwinds to the market. With the introduction of in-flight connectivity technologies in international flights, users can use smartphones while flying. This contributes to the growth of the market. Also, the adoption of virtual and augmented reality by telecom companies is increasing. In addition to this, companies are adopting artificial intelligence (AI) technology to enhance customer interaction better. Such technologies are likely to improve the back-end operations such as predictive maintenance, chatbots and others. These technologies provide better security of a user’s personal data.
These factors, together with the rising adoption of biometrics, are anticipated to drive the global smartphone market growth. This will further increase demand for different operating systems such as Windows, iOS, Android, Blackberry OS, Sailfish among others. The process of camera lenses and sensors are declining, which compels people to buy smartphones. Also, several telecom companies are developing 5G infrastructure network to fulfil the changing needs of customers. This is further expected to propel the growth of the market during the forecast period.
Samsung Develops Novel Smartphone Application Processor
Apple, Inc., Panasonic Corporation, OPPO Co Ltd., Samsung Electronics Co., Ltd., Nokia Corporation, LG Electronics Inc., Sony Corporation, Xiaomi Corporation, HTC Corporation, One Plus Corporation, Motorola Solutions, Inc., Huawei Technologies Co Ltd., Google, Inc., Lenovo Group Limited, and Microsoft Corporation. These are some of the leading players operating in the global smartphone market. Overall, there are over 170 companies functioning in the global market.
Among these, Samsung is adopting strategies to strengthen its position in the market. For instance, the company developed new application processors for smartphones in 2018. Some of them include Exynos 9810, Huawei, MediaTek, and Qualcomm. In the same year, Huawei, Samsung and other key players launched new foldable smartphones. This is the most recent innovation in the market and is expected to expand the market share in the forthcoming years.
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