Smartphones Market, Global Outlook on Key Growth Trends

Smartphones Market

Smartphones Market, Due to the rising trend of e-Commerce and m-Commerce, particularly among the working population, the global market for smartphones is predicted to experience substantial growth over the upcoming years. Some of the main variables influencing worldwide smartphone sales are rising social media subscriptions, expanding Internet penetration, and increased marketing efforts by smartphone companies.

The projection period is expected to see a 4% increase in the global smartphone market (2022-2027). The smartphone market is expanding in Asian nations due to elements like rising disposable income, expanding telecom infrastructure, the advent of smartphones focused on affordability, and an increase in product launches. The smartphone market has been continuously expanding in terms of both models and market size. Globally, it is anticipated that 40% of people would own a smartphone by 2021. The number of smartphone subscriptions worldwide now exceeds six billion, and Ericsson predicts that over the next several years, that figure will increase by several hundred million more. The nations with the most smartphone users are China, India, and the United States.

Unprecedented demand for smartphones has been caused by Reliance Jio’s disruption and the telecom industry’s consequent reduction in the cost of data plans. The demand for refurbished or used cell phones from aspirational brands like Apple and Samsung has multiplied while smartphone producers like Xiaomi, OnePlus, etc. are already making a mint by capitalizing on the booming smartphone market. Africa and Southeast Asia, in addition to India, are the two largest markets for refurbished cell phones.

Click Here To Request a Sample Copy of Market

Global Smartphones Market: Major Players
LG Electronics

Global Smartphones Market: Types

Global Smartphones Market: Applications
The Old

According to Amber Liu, another analyst at Canalys, “the smartphone market is highly reactive to customer demand and vendors are reacting swiftly to the severe business conditions.” The manufacturers of smartphones will need to be cautious when setting prices in a price-sensitive market to prevent any consumer backlash. The appropriate pricing will prevent the vendors from being caught in a cycle of increased inventory during periods of weak demand. The research states that although vendors had sizable surpluses heading into July, sell-through only steadily increased starting in September due to aggressive pricing and advertising. North America is the largest smartphone market, followed by Asia Pacific, according to Persistence Market Research. The presence of cutting-edge telecom infrastructure, quick 5G implementation, and the presence of major smartphone manufacturers in the region boost expansion in North America.

Frequently Asked Questions

  • What is the study period of this market?
  • What is the growth rate of Smartphones Market?
  • Which region has highest growth rate in Smartphones Market?
  • Which region has largest share in Smartphones Market?
  • Who are the key players in Smartphones Market?
  • Define, describe and forecast Smartphones product market by type, application, end user and region.
  • Provide enterprise external environment analysis and PEST analysis.
  • Provide strategies for company to deal with the impact of COVID-19.
  • Provide market dynamic analysis, including market driving factors, market development constraints.
  • Provide market entry strategy analysis for new players or players who are ready to enter the market, including market segment definition, client analysis, distribution model, product messaging and positioning, and price strategy analysis.