The global smartphone market will touch USD 2297.8 billion at a favorable 16.4% CAGR by 2025, states the latest Market Research Future (MRFR) report.
Rising Trend of M-Commerce among Working Population to Boost Market Growth
The rising trend of m-commerce especially among the working population will boost market growth over the forecast period. The demand for m-commerce has led to a growing need for smartphones with top-notch features that support m-commerce.
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The global Smartphone Market Share is bifurcated based on type, operating system, distribution channels, and input device.
By type, the media-centric type will lead the market over the forecast period.
By operating system the Android segment will dominate the market over the forecast period.
By distribution channels, the e-commerce segment will spearhead the market over the forecast period.
By input device, the screen segment will have the lions share in the market over the forecast period.
APAC to Spearhead Smartphone Market
The APAC region will spearhead the smartphone market over the forecast period. Increasing per capita income, the presence of huge population with rising disposable income, growing interest of people to use new services and technologies, major companies in India like Airtel and Jio slowly adding to the adoption of smartphones and also an increase in demand for smartphones by offering data at the lowest cost possible, and rapid industrialization in China and India are adding to the global smartphone market growth in the forecast period. Besides, increasing need from the developing countries like Indonesia and India where smartphones are risingly penetrating into the rural areas as the local governments are pushing for mobile and digital economy, the start of Digital India program- a flagship program by the Government of India to transform the country into a digitally empowered society, large customer base, highly developing telecom sector, increasing investments in the mobile network, and South Korea, Singapore, Australia, Japan, and India increasingly investing towards the development of the domestic telecom market are also adding market growth.
Eminent industry players profiled in the global smartphone market report include Samsung Electronics Co. Ltd (South Korea), Apple Inc. (US), Google LLC (US), Xiaomi Corporation (China), Lenovo Group Limited (China), OnePlus Technology Co., Ltd (China), Microsoft Corporation (US),Nokia Corporation (Finland), Huawei Technologies Co. Ltd (China), Guangdong OPPO Mobile Telecommunications Corp., Ltd (China), Vivo Communication Technology Co. Ltd (China), HTC Corporation (Taiwan), Sony Corporation (Japan), ZTE Corporation (China), LG Electronics Inc. (South Korea), and Panasonic Corporation (Japan) among others.
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Smartphone Market Research Report: By Type (Media-Centric (Music, navigation, Gaming, Camera), Entry Level, Performance), By Input Device (Touchscreen, Keypad), By Operating System (Android, iOS, Windows), By Distribution Channel (OEM, Retailers, e-Commerce) - Forecast till 2027
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