Mobile Market Size Worth USD 972.20 Billion in 2032 | Emergen Research

Continuous technological advancements, increasing deployment and expansion of Fifth Generation (5G) networks, and rising demand for Internet of Things (IoT) are major factors driving mobile market revenue growth.

Vancouver, Feb. 01, 2024 (GLOBE NEWSWIRE) -- The global mobile market size was USD 469 Billion in 2022 and is expected to register a rapid revenue CAGR of 7.50% during the forecast period. Continuous technological advancements, increasing deployment and expansion of Fifth Generation (5G) networks, and rising demand for Internet of Things (IoT) are major factors driving market revenue growth. Mobiles are portable electronic devices that provides advanced functionality and connects to a cellular network and the Internet. These comprise a Central Processing Unit (CPU), Graphics Processing Unit (GPU), Long-Term Evolution (LTE) modem, video processor, and display processor. In addition, various product innovations, such as the introduction of miniaturized cameras with high-resolution sensors and improved battery life and reliability, is another factor driving revenue growth of the market.

The next generation of telecommunications is Fifth Generation (5G), which guarantees gigabit-per-second (Gbps) data transfer rates and makes use of high, mid, and low spectrum brands to guarantee improved communication across locations. In 2019, 5G technology was made available to everyone. There are already over 240 million 5G subscribers worldwide and by the end of 2026, there should be around 4.8 billion 5G subscriptions globally. By August 2022, 220 commercial 5G services had already been introduced. Along with Apple and Xiaomi, which are the largest rivals and competitors in the market, Samsung is at the top of the 5G smartphone market.

For example, on 10 May 2022, Super TimeFreq Folding, a brand-new cutting-edge 5G-Advanced technology, was introduced at a joint press conference hosted by China Telecom and Huawei. In their opening remarks, Liu Guiqing of China Telecom, Zhang Xin of the 5G Construction Working Group, Ryan Ding of Huawei's Carrier BG, and Gan Bin of Huawei's Wireless Solution Vice President spoke about the technology underlying this new development as well as the specifics of its lab tester.

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The smartphone market is highly competitive and is controlled by well-known companies such as Samsung, Huawei, Apple, and Xiaomi. The majority of these players often release new versions with minor technological upgrades to things including battery life, camera setup, and processing. For instance, on 17 February 2023, Samsung announced the release of the Galaxy S23 Series worldwide. The Galaxy S23 series, which also includes the Galaxy S23+ and Galaxy S23, brings in a new age of Samsung's supreme luxury phone experience with the introduction of the Galaxy S23 Ultra and its revolutionary 200MP Adaptive Pixel sensor and iconic incorporated S Pen.

However, privacy is a linked concern, and mobile businesses are coming under increasing pressure for failing to sufficiently disclose to customers how they acquire mobile data. In recent months, concerns about mobile privacy have received a lot of attention.

Segment Insights

Device Type Insights:

Based on Device type, the global Mobile market is segmented into smartphones, feature phones, tablets, and wearables. The smartphones segment is expected to register steadily fast revenue growth rate in the global mobile market during the forecast period due to increasing number applications that smartphones provide to consumers. Smart phones make it much easier to communicate with other people and provide several benefits, including improved communication tools, user-friendly learning possibilities, and ideal access to the most recent information.

According to polls, over 10 million Americans use smartphones to look for medical resources and information. Smartphones are used for Internet activities by 27% of users. As of April 2023, according to the most recent data on the global smartphone market share, U.S. phone manufacturer Apple is in the top with a market share of 30.44%. As a result, over 30%of smartphone users globally use an Apple device. 

Price Range Insights:

Based on price range, the global mobile market is segmented into low-cost device, mid-range device, and high-end flagship device. The mid-range device segment accounted for significantly large revenue share in the global mobile market in 2022. According to recent research, consumers are now prioritizing spending on necessities because to the economic unpredictability of the epidemic era. Consumers are now purchasing more low-to-mid range smartphones, and 73% of smartphone shipments in 2020 are anticipated to be under USD400. Rising unemployment rates and job insecurity have shifted customers' purchasing habits toward economical and cost-effective goods. As a result, the whole smartphone portfolio is shifting toward low-to-mid end handsets.

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Regional Insights:

North America accounted for second-largest market share in the global mobile market in 2022. This is due to the presence of Apple and Samsung, which are the top two smartphone manufacturers in the U.S., with market shares of 57%and 20%, respectively, as of the fourth quarter of 2022. Lenovo and Google come in third and fourth, with market shares of 6% and 5%, respectively, behind Apple and Samsung. Even though Apple still dominates the American smartphone market, it has always trailed behind on a worldwide level. Since 2012, Samsung has dominated the global smartphone market. As of March 2023, Apple's iOS continued to command the biggest market share for smartphone operating systems in the U.S., accounting for over half of the market. Apple's market share in the U.S. has consistently increased since the beginning of 2012 when it accounted for roughly 30% of the market.

Europe accounted for third-largest market share in the global mobile market in 2022. The European smartphone industry continues to suffer from a terrible economic environment and continuous geopolitical instability, with sales falling by 24% year on year in Q4 2022. In Q1 2022, the number of smartphones shipped from Europe decreased by 10% year over year to 41.7 million units. Samsung began 2022 in first place with a 35% market share as supplies for its entry-level and mid-range devices began to improve. Due to overwhelming demand for the iPhone 13, Apple finished in second. Russia and Ukraine were severely impacted, which contributed largely to Europe's downfall. In comparison to Q1 2021, shipments in the two countries decreased 31% and 51%, respectively. 

Scope of Research

Report DetailsOutcome
Market Size in 2022USD 469 Billion
CAGR (2023–2032)7.50%
Revenue Forecast to 2032USD 972.20 Billion
Base Year for Estimation2022
Historical Data2019–2021
Forecast Period2023–2032
Quantitative UnitsRevenue in USD Billion and CAGR in % from 2023 to 2032
Report CoverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments CoveredOperating system, device type, price range, and region
Regional ScopeNorth America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Country ScopeU.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa
Key Companies ProfiledSAMSUNG, Apple Inc., Huawei Technologies Co., Ltd., Xiaomi, BBK Electronics Corp Ltd, Lenovo, HTC Corporation, HMD Global, Sony Corporation, Google
Customization Scope10 hours of free customization and expert consultation

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Major Companies and Competitive Landscape

The global mobile market is fairly fragmented, with a number of large and medium-sized players accounting for majority market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective solutions. Some major companies included in the global mobile market report are:


Apple Inc.

Huawei Technologies Co., Ltd.


BBK Electronics Corp Ltd.


HTC Corporation

HMD Global

Sony Corporation


Strategic Development

  • On 24 February 2023, Huawei confirmed that it would present novel antenna solutions such as the new Maxwell platform and X2 antenna series at MWC 2023 Barcelona, driving all bands to 5G advancement by delivering greater integration and configuration antenna solutions.
  • On 19 October 2022, Samsung Electronics Co., Ltd. announced that its network solutions, including the cloud-native 5G Macro Core and Radio Access Network (RAN), are successfully supporting NTT East's private 5G network expansion and opening up new and diversified use cases for businesses in various Japanese industries.

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Segments Covered in Report

For the purpose of this report, Emergen Research has segmented the global mobile market based on operating system, device type, price range, and region:

  • Operating System Outlook (Revenue, USD Billion; 2019-2032)
    • Android
    • iOS
  • Device Type Outlook (Revenue, USD Billion; 2019-2032)
    • Smartphones
    • Feature Phones
    • Tablets
    • Wearables
  • Price Range Outlook (Revenue, USD Billion; 2019-2032)
    • Low-Cost Device
    • Mid-Range Device
    • High-end Flagship Device
  • Regional Outlook (Revenue, USD Billion; 2019–2032)
    • North America
      1. U.S.
      2. Canada
      3. Mexico
    • Europe
      1. Germany
      2. France
      3. UK
      4. Italy
      5. Spain
      6. Benelux
      7. Rest of Europe
    • Asia Pacific
      1. China
      2. India
      3. Japan
      4. South Korea
      5. Rest of APAC
    • Latin America
      1. Brazil
      2. Rest of LATAM
    • Middle East & Africa
      1. Saudi Arabia
      2. UAE
      3. South Africa
      4. Turkey
      5. Rest of Middle East & Africa

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