Global Smartphones Market

Smartphones Market Size, Share, Growth Analysis, By Operating System(Android Smartphones, IOS Smartphones, Others), By Sales Channel(Online/e-Commerce, Offline), By Price(High Range, Medium Range, Low Range), By Region - Industry Forecast 2024-2031


Report ID: SQMIG25E2077 | Region: Global | Published Date: July, 2001
Pages: 165 |Tables: 89 |Figures: 76

Smartphones Market Insights

Smartphones Market size was valued at USD 568.02 billion in 2019 and is poised to grow from USD 607.8 billion in 2023 to USD 978.2 billion by 2031, growing at a CAGR of 6.8% in the forecast period (2024-2031).

The worldwide smartphone market is predicted to increase significantly in the future years as a result of the growing trend of e-Commerce and m-Commerce, particularly among the working population. Growing Internet penetration, increased marketing efforts by smartphone suppliers, and expanding social media subscriptions are among the primary reasons driving worldwide smartphone sales. The economic slump caused by the COVID-19 epidemic increased demand for low-cost cell phones. However, increased disposable income will enhance the likelihood of consumer spending on media, entertainment, networking, and mobile communication in the coming years, resulting in larger potential sales of consumer electronics such as smartphones, tablets, laptops, and gaming consoles.

The use of Artificial Intelligence (AI) technology in many mobile phones has increased demand for smartphones. Major industry players such as Apple, Samsung, and Huawei are launching strong smartphone AI processors that consume far less power to execute more jobs and conduct up to 5 trillion operations per second.

US Smartphones Market is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2024-2031

Global Market Size

USD 568.02 billion

Fastest Growth

Android Smartphones,

Growth Rate

6.8% CAGR

Global Smartphones Market($ Bn)
Country Share for Asia Pacific (%)
Global Smartphones Market BY Operating system (%)

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Smartphones Market Segmental Analysis

The Global Smartphones Market is segmented on the basis of Operating System, Injury Type, Sales Channel, Price, and Region. Based on Operating System, the Smartphones Market is segmented into Android Smartphones, IOS Smartphones, Others. Based on Sales Channel, the Smartphones Market is segmented into online and offline. By price, the Smartphones Market is segmented into High Range, Medium Range, Low Range. Based on the region, the global Smartphones market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.

Smartphones Market Analysis by Operating System

In 2022, the Android category led the market with more than 80% market share. iOS offers less flexibility and customizability than Android. Android is more open, which means more phone options and OS customization options once you're up and running. Google also offers a number of development tools, including as Android Jetpack, Firebase, and the Android SDK, to assist developers in creating a user-friendly experience. Because it requires developers to know languages such as Kotlin, C++, and Java, among others, many app developers use Android OS to build gaming/entertainment applications, social networking apps, utility mobile apps, and lifestyle apps, among others.

Smartphones Market Analysis by Distribution Channel

E-commerce is predicted to increase at a 6.7% CAGR throughout the projection period. E-commerce, which provides numerous offers and discounts in the online buying culture, is likely to drive market expansion. The vast availability of Smartphone colours, brands, and price ranges in E-commerce is boosting segment expansion in the market.

Global Smartphones Market BY Operating system, 2023 (%)

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Smartphones Market Regional Insights

In 2022, the Asia Pacific region will hold more than 40% of the Smartphones Market. China and India are the most popular locations for technology enterprises. Rising disposable income and a growing population in this region are important factors driving Smartphones Market expansion. People in Asia Pacific are increasingly embracing new technologies and services, which is expected to increase smartphone demand in the near future. The North American and European regions are predicted to expand at a CAGR of more than 3% over the projection period, while shipping is expected to fall. This is attributable to the level of smartphone maturity in certain locations.

Global Smartphones MarketBy Region, 2024-2031
  • Largest
  • Fastest

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Smartphones Market Dynamics

Smartphones Market Driver

Smartphones with 5G capabilities will drive the majority of market growth in the future.

  • The rollout of 4G LTE technology and 5G services in various emerging nations is predicted to boost smartphone sales income. Several smartphone makers are focusing on the release of 5G devices in order to meet the growing demand for 4G-enabled smartphones and 5G-enabled smartphones among tech-savvy customers. Increasing demand for 5G smartphones is predicted to lower the pricing of 4G devices, resulting in increased sales volume. As the urban population adopts cell phones at a far higher rate than the rural population, there is a huge demand for smartphones in developed regions.

Smartphones in the low to medium price range are in high demand in India.

  • After China, India has the highest smartphone consumption in the APAC region. Over the anticipated period, the India smartphone market is expected to grow at a high CAGR of over 9%. Fast communications infrastructure and economic development in numerous places in India have contributed significantly to the country's rapid expansion. Other factors, such as the rising entry of low-cost and high-end electronic components and goods into the Indian market, are projected to drive smartphone demand growth. Smartphone sales in India are expected to expand 2.5X in value over the next 10 years.

Smartphones Market Restraint

Shortages of semiconductors and mobile chips

  • Since the second half of 2020, various sectors have been afflicted by semiconductor and mobile chip shortages. However, since late 2021, demand-supply gaps have been narrowing, indicating that supply constraint in the larger ecosystem is coming to an end. Despite ongoing pandemic-related issues, India's smartphone industry is expected to grow by 7% in 2021, according to IDC. However, India's entire mobile handset market fell 16% year on year in the first quarter of 2022. The feature phone market fell 39% year on year.

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Smartphones Market Competitive Landscape

According to our research, the increased demand from emerging nations in the region, such as India and Indonesia, where smartphones are increasingly accessing rural regions as local governments push for digital and mobile economies, is likely to fuel demand for smartphones at entry-level price points. For example, the Government of India's Digital India initiative is a flagship program aiming largely at converting the country into a digitally enabled society. Furthermore, prominent manufacturers are always improving their goods in order to attract new clients and increase their Operating System range in order to enhance their market position in all key nations. Aside from that, rising public and private support for specialized research provide market participants with profitable options. Furthermore, the increasing number of Operating System approvals, current implant developments, and technical improvements are some of the other aspects expected to contribute to a positive market outlook.

Smartphones Market Top Players Company Profiles

  • Samsung
  • Apple
  • Huawei
  • Xiaomi
  • Oppo
  • Vivo
  • OnePlus
  • Realme
  • Motorola
  • Nokia
  • LG
  • Google
  • Sony
  • HTC
  • Lenovo
  • ZTE
  • Asus
  • Blackberry
  • Panasonic
  • Sharp

Smartphones Market Recent Developments

  • In September 2022, Motorola is launched Moto Edge 30 Ultra
  • In September 2022, Sony launched Sony Xperia 5 IV 5G
  • In September 2022, Apple launched Apple iPhone 14 Pro Max
  • In March 2022, OnePlus launched 10 Pro 5G
  • In February 2022, Samsung launched the Samsung Galaxy S22 Ultra 5G.
  • In February 2022, Samsung launched Samsung Galaxy S22 Plus 5G
  • In July 2021, With the launch of the powerful Vivo Y72, ivo Communication Technology Co. Ltd increased its 5G offering in India. At INR 20,990, the Y72 provides a great smartphone experience with its powerful features and a visibly unique design in its category. The phone has 8GB+4GB extendable RAM, which keeps it from choking when multitasking.
  • In July 2021, Samsung India has unveiled the Galaxy A22 5G smartphone. It supports 11 bands for 5G experience and two-year OS updates. It sports a 6.6" FHD+ display with a refresh rate of 90Hz, a flexible 48MP triple camera, a 5000mAh battery, and a slew of other cutting-edge features.

Smartphones Key Market Trends

  • Xiaomi, which just surpassed Samsung to grab the lead in Indian smartphone shipments, claims to currently have seven production sites in the nation. Xiaomi India says that 99% of the phones it sells in the nation are manufactured in the country. In addition, the business has began selling gadgets to Bangladesh and Nepal, albeit in small quantities.
  • The growing demand for high-speed data connectivity for integrated IoT (Internet of Things) applications like energy management and smart home devices is expected to drive 5G smartphone adoption.
  • Rising smartphone adoption and the availability of 4G have resulted in a spike in mobile internet usage in mainland China, supporting the country's ascension up the digital-society value chain. More than 990 million people utilise mobile internet services, with an additional 200 million predicted by 2025.
  • The Asia-Pacific area is a big market for smartphones, owing to the region's rapidly increasing telecom industry and vast client base. Furthermore, the area is boosting its investment in mobile networks. Countries like India, Japan, Australia, Singapore, and South Korea are expanding their investments in the growth of their domestic telecom markets, which are likely to boost the regional industry.

Smartphones Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

According to our analysis, in terms of market size and models, the smartphone industry has been continually evolving and rising. By 2022, it is expected that more than 40% of the world's population will own a smartphone. The global number of smartphone subscribers is projected to surpass six billion and is likely to rise by several hundred million in the next years. The nations with the most smartphone users are China, India, and the United States.

Report Metric Details
Market size value in 2023 USD 568.02 billion
Market size value in 2031 USD 978.2 billion
Growth Rate 6.8%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Operating System
    • Android Smartphones, IOS Smartphones, Others
  • Sales Channel
    • Online/e-Commerce, Offline
  • Price
    • High Range, Medium Range, Low Range
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Samsung
  • Apple
  • Huawei
  • Xiaomi
  • Oppo
  • Vivo
  • OnePlus
  • Realme
  • Motorola
  • Nokia
  • LG
  • Google
  • Sony
  • HTC
  • Lenovo
  • ZTE
  • Asus
  • Blackberry
  • Panasonic
  • Sharp
Customization scope

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Historical Year 2019

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Smartphones Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Smartphones Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Smartphones Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Smartphones Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Smartphones Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Smartphones Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Smartphones Market size was valued at USD 568.02 billion in 2019 and is poised to grow from USD 607.8 billion in 2023 to USD 978.2 billion by 2031, growing at a CAGR of 6.8% in the forecast period (2024-2031).

According to our research, the increased demand from emerging nations in the region, such as India and Indonesia, where smartphones are increasingly accessing rural regions as local governments push for digital and mobile economies, is likely to fuel demand for smartphones at entry-level price points. For example, the Government of India's Digital India initiative is a flagship program aiming largely at converting the country into a digitally enabled society. Furthermore, prominent manufacturers are always improving their goods in order to attract new clients and increase their Operating System range in order to enhance their market position in all key nations. Aside from that, rising public and private support for specialized research provide market participants with profitable options. Furthermore, the increasing number of Operating System approvals, current implant developments, and technical improvements are some of the other aspects expected to contribute to a positive market outlook. 'Samsung', 'Apple', 'Huawei', 'Xiaomi', 'Oppo', 'Vivo', 'OnePlus', 'Realme', 'Motorola', 'Nokia', 'LG', 'Google', 'Sony', 'HTC', 'Lenovo', 'ZTE', 'Asus', 'Blackberry', 'Panasonic', 'Sharp'

The rollout of 4G LTE technology and 5G services in various emerging nations is predicted to boost smartphone sales income. Several smartphone makers are focusing on the release of 5G devices in order to meet the growing demand for 4G-enabled smartphones and 5G-enabled smartphones among tech-savvy customers. Increasing demand for 5G smartphones is predicted to lower the pricing of 4G devices, resulting in increased sales volume. As the urban population adopts cell phones at a far higher rate than the rural population, there is a huge demand for smartphones in developed regions.

Xiaomi, which just surpassed Samsung to grab the lead in Indian smartphone shipments, claims to currently have seven production sites in the nation. Xiaomi India says that 99% of the phones it sells in the nation are manufactured in the country. In addition, the business has began selling gadgets to Bangladesh and Nepal, albeit in small quantities.

In 2022, the Asia Pacific region will hold more than 40% of the Smartphones Market. China and India are the most popular locations for technology enterprises. Rising disposable income and a growing population in this region are important factors driving Smartphones Market expansion. People in Asia Pacific are increasingly embracing new technologies and services, which is expected to increase smartphone demand in the near future. The North American and European regions are predicted to expand at a CAGR of more than 3% over the projection period, while shipping is expected to fall. This is attributable to the level of smartphone maturity in certain locations.

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Global Smartphones Market

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