SMARTPHONE MARKET TO REACH USD 2590.5 BILLION BY 2027 | CAGR 19.8% — FORENCIS RESEARCH
Global Smartphone Market: Key Highlights
- According to the new market research report “Smartphone Market by Operating System (Android, iOS, Windows, Others), by Type (Entry-Level Smartphone, Performance Smartphone, Media-Centric Smartphone (Gaming Smartphone, Music Smartphone, Camera Smartphone, Navigation Smartphone)), by Input Method (Touchscreen, Keypad), by Distribution Channel (OEM, Retailer, E-Commerce), by Application (Personal, Professional), by Region (Asia Pacific, Europe, Middle East & Africa, South America, North America) — Global Forecast (2020 to 2027)”, the global Smartphone market is estimated to reach USD 2590.5 Billion by 2027 at a CAGR of around 19.8% during the review period.
- Smartphone allows various key applications than only phone calls and text messages. Smartphones can browse the Internet and run the software program such as computer.
- There are lot of smartphones are running on different operating systems. Some popular operating systems are Android, iOS, and Windows among others.
- Smartphone uses flash memory to store applications and data. The flash memory is usually built into the phone and non-removable. Some smartphones may also have a flash memory card slot, often designed for an SD card, allowing users to utilize external storage.
Global Smartphone Market: Key Market Dynamics
- Increasing use of mobile Internet, increasing population, and increasing disposable income in developing countries are expected to drive the market during the forecast period.
- However, data identity and data security threats are expected to hinder the growth of the market during growth period.
- Rapid technological advancements in wireless technologies, hardware and software updating are expected to become an opportunity for the smartphone market during projected years.
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Global Smartphone Market: Regional Overview
Asia-Pacific is expected to dominate the smartphone market during forecast period. China, India, and Japan are expected to hold largest market share in Asia-Pacific region. Increasing disposable income, increasing population in India & China will drive the market in this region. Moreover, presence of global players and large presence of telecom industries also increases the smartphone market share in this region.
- North America
North America will grow at faster rate during the forecast period due to presence of global players such as Apple Inc. Early adoption of latest technologies such as artificial intelligence, IoT, and 5G and mergers & acquisition with local and regional player will expected to boost the market during projected years. US and Canada will drive the smartphone market in North America.
Global Smartphone Market: Key Players Overview
- Apple Inc.:
Apple Inc. is one of the popular organization in provision of various electronic products. The company provide comprehensive set of frameworks for IT to manage every part of the device lifecycle, from integration to deployment and management. The company operates in various business segments: IT and products & platform. In September 2019, Apple Inc. launched iPhone 11 Pro and iPhone 11 Pro Max with stunning pro display, A13 bionic, cutting-edge pro camera system and longest battery.
Samsung Electronics is one of the major player in provision of technology for opening new possibilities for people everywhere. Through relentless innovation and discovery, company is focusing on transforming the worlds of TVs, smartphones, wearable devices, tablets, digital appliances, network systems, medical devices, semiconductors and LED solutions. In January 2020, SAMSUNG launched Galaxy A51 in India.
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