Dublin, Feb. 23, 2024 (GLOBE NEWSWIRE) -- The "Smartphone Market, Size, Global Forecast 2024-2030, Industry Trends, Share, Growth, Insight, Impact of Inflation, Company Analysis" report has been added to ResearchAndMarkets.com's offering.
Global Smartphone Market Size Poised to Surge to US$777.52 Billion by 2030: A newly conducted comprehensive analysis on the smartphone market globally provides an insightful forecast for the period ranging from 2024 to 2030. The research sheds light on the influence of inflation, industry trends, market share, and growth, highlighting the transformative impact of advanced telecommunications and Internet of Things (IoT) on daily communication.
The exponential growth of the global smartphone market is underpinned by technological advancements and increasing adoption rates, with expectations for the market to expand at a CAGR of 6.23% during the forecast period. The integration of 5G networks and 4G LTE technology across developing nations is anticipated to energize smartphone sales, with markets preparing for a surge in demand for 5G-enabled handsets.
Rising Internet Penetration and Smartphone Convenience Drive Market Expansion
With higher internet accessibility, smartphones have become fundamental for a multitude of online activities. From engaging on social media to ecommerce and enjoying streaming services, these devices facilitate on-the-go access to an array of services. This versatility, coupled with the rising disposable incomes globally, is propelling the smartphone market forward, as witnessed by a noteworthy valuation of US$509.28 Billion in 2023.
Android Maintains Market Leadership
- Android Smartphones Secure Half of the Global Market Share: Dominance in the smartphone sector continues with Android leading the way, thanks to its open-source platform, diverse device models, and an abundant app ecosystem on Google Play Store.
E-commerce Spearheads Smartphone Sales Channels: Online platforms are now the primary focal point for smartphone transactions, illustrating a major shift in consumer purchasing habits. The user-friendly online shopping experience, coupled with the vast selection and competitive pricing, has firmly established e-commerce as the cornerstone of the smartphone distribution market.
Chinese and US Markets at the Helm of Smartphone Domination
The Chinese smartphone industry, fueled by economic growth, technological innovation, and rapid adoption of 5G, is poised to continue its ascendancy on the global stage. Conversely, the US smartphone market thrives on the back of AI integration, IoT advancements, and burgeoning trends in mobile payments and e-commerce.
Notable Players in the Smartphone Arena: In this competitive landscape, major corporations such as Nokia, Sony Corporation, Samsung, Huawei, LG Display, Panasonic Corporation, Lenovo, HTC Corporation, and Blackberry are examined, offering strategic insights and revenue analysis.
Extensive Country-wise Analysis Included
The research encompasses an in-depth market breakup from 18 different country viewpoints, providing critical data for North America, South America, Europe, Asia Pacific, the Middle East, Africa, and the Rest of the World, thus enabling a holistic understanding of the smartphone ecosystem dynamics varying by region.
This detailed analysis delivers an invaluable resource for stakeholders in the smartphone industry, offering a clear perspective on market trends, growth patterns, and the evolving technological landscape that is shaping the future of global communications.
Key Topics Covered
1. Introduction
2. Research & Methodology
3. Executive Summary
4. Market Dynamics
5. Global Smartphone Market
6. Market Share - Global Smartphone Market
7. Operating System - Global Smartphone Market
8. Distribution Channel - Global Smartphone Market
9. Country - Global Smartphone Market
10. Porter's Five Forces - Global Smartphone Market
11. SWOT Analysis - Global Smartphone Market
Companies Mentioned
- Nokia
- Sony Corporation
- Samsung
- Huawei Device Co., Ltd.
- LG Display
- Panasonic Corporation
- Lenovo
- HTC Corporation
- Apple Inc.
- Blackberry
For more information about this report visit https://www.researchandmarkets.com/r/ttc8vu
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