Global Smartphone’s Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast: 2019–2028
“Global Smartphone’s Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global smartphone’s market report has been segmented as per product type, end-user, and region.
Global Smartphones Market: Overview
The IBM Simon was the first smartphone, and was launched at 1993. The IBM Simon was represented as just a concept device rather than a consumer device. Initially launched smartphones enabled making and receiving voice calls, messaging and sending faxes. More advanced models emerged, and had processors, integrated computer, and a range of features. Smartphones have continuously been developed with increasingly advanced features such as biometric, video chat, digital assistance, voice commands and a range of others.
Global Smartphones Market: Dynamics
A key factor driving growth of the global smartphones market is increasing demand for smartphones, especially among younger individuals, teens, as well as from a rapidly expanding consumer base in urban areas. Smartphones are considered as the most demanded or wanted electronic device. In addition, rising disposable income and increasing consumer spending on various applications, entertainment, media, and networking, coupled with increasing adoption of smartphones among urban populations is expected to drive growth of the global smartphones market. The advent of communication applications, gaming applications, Internet penetration, speed, and connectivity, and availability of Wi-Fi in public areas is expected to augment sales of smartphones.
Furthermore, growing Internet user base, increasing advertising and marketing activities by merchants, and rising impact of social media platforms are among other factors expected to drive market growth. Leading vendors are focusing on new technologies and developing new features to enhance existing operating systems for better user interface.
However, poor social interaction is among the major factors hampering growth of the target market. Poor or weak signal and lack of efficient network connectivity in some areas, and high cost of smartphones, coupled with easy availability of certified refurbished phones, especially is developing countries, are key factors expected to hamper growth of the global smartphones market.
Global Smartphones Market: Segment Analysis
Among the operating system segments, the android segment is currently the dominant segment in the global smartphones market in terms of both production and sale revenue. Android smartphones are available at lower cost, have good user interface, supports more applications than IOS and windows, and allows enhanced.
Global Smartphones Market: Region Analysis
Currently, the North America market accounts for largest revenue share and is projected to continue to maintain its dominant position over the forecast period. Changing lifestyle of people and rising demand for smartphones in the region, especially the US, is attributable to this projected growth. Asia Pacific market in expected to see witness fastest CAGR growth in terms of revenue, driven by increasing adoption of smartphones, rising spending capacity, and changing lifestyle. The market in Europe is also expected to account for major revenue share, and has the largest mobile subscriber base. Furthermore, the market in Middle East and Africa expected to witness average growth over the forecast period, followed by in Latin America.
Global Smartphones Market Segmentation:
Segmentation by Operating System:
Segmentation by Price:
- Up to US$ 199
- US$ 200-299
- US$ 300-399
- Above US$ 400
Segmentation by size:
- Below 3.9 inches
- 4 to 4.4 inches
- 5 to 4.9 inches
- 5 to 5.4 inches
- 5 inches and above
Segmentation by Region:
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Samsung Electronics Co. Ltd.
- Apple Inc.
- Huawei Technologies Co. Ltd.
- Lenovo Group Limited
- LG Electronics Inc.
- TCL Communication Technology Holdings Limited
- ZTE Corporation
- Vivo Communication Technology Co. Ltd.
- Xiaomi Corporation
- Nokia Corporation
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