The global Smartphones market was valued at USD 273.9 Billion in 2021 and is forecasted to reach USD 520.7 Billion by the year 2030. The market is anticipated to register a CAGR of 7.6% over the projected period. In 2021, around 1,617.5 million smartphones were estimated to be sold in 2021.
Smartphone consists of an integrated computer and other features, such as web browsing, operating system, as well as the ability to run software applications. Increasing penetration of Internet of Things is expected to boost the market growth. Furthermore, rapid technological advancements is also expected to fuel the market growth. Despite the driving factors, health risks due to prolonged exposure to smartphones are expected to hinder the market growth during the forecast period.
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Growth Influencers:
Increasing penetration of IoT
Internet of Things is one of the emerging communication concept which interconnects a variety of devices, including smartphones, with data, processes, and people and enables a seamless communication. Smartphone-enabling technologies, such as Bluetooth, built-in sensors, NFC, and RFID tracking, enables smartphones to be a vital part of IoT world. According to NASSCOM, the number of IoT devices, including smartphones, has increased from 200 million units in 2016 and more than 2.7 billion units in 2020. Hence, increasing penetration of IoT in smartphones is expected to boost the market growth.
Segments Overview:
The global Smartphones market is segmented the brand, operating system, RAM size, generation, screen size, price range, distribution channel, component-hardware, and component-software.
By Brand
- Apple
- Samsung
- Xiaomi
- Oppo
- Huawei
- VIVO
- Others
The Samsung segment is expected to account for the largest market share of over 30% owing to its high demand globally for past few decades. The Xiaomi segment is anticipated to witness the fastest growth rate of more than 14% owing to increasing adoption owing to cheap prices as compared to other brands.
By Operating System
- Android
- Windows
- iOS
- Palm OS
- Others (Sailfish, Tizen, and Blackberry OS)
The Android segment is estimated to hold the largest market share of more than 70% owing to its user friendly nature. The iOS segment is expected to account for 35% of the Android segment’s volume in 2021 and this is estimated to reach 37% in 2030.
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By RAM Size
- Below 2GB
- 2GB-4GB
- 4GB-8GB
- More than 8GB
The 4GB-8GB is a major segment and contributes to more than the combined market size of 2GB-4GB and the more than 8GB segment owing to rising demand for 4GB-8GB RAM size smartphones, especially by younger population.
By Generation
The 5G segment is anticipated to witness the fastest growth rate owing to increasing technological advancements by market players for manufacturing 5G smartphones. The 3G and 4G segments are also estimated to grow at significant rates.
By Screen Size
- Below 4.0”
- 4.0”-5.0”
- Above 5.0”
The above 5.0” segment is expected to be the major segment and the unit sales of this screen size is estimated to be …….