Press release
Smartphone Market Trend and Opportunities analysis are foreseen by 2020 with global key players - Samsung Electronics, Huawei Technologies, Apple, LG Electronics, Lenovo Group Limited, ZTE Corp, TCL Communication Technology Holdings, and Vivo Communicatio
The global smartphone market is expected to reach USD 698.4 billion by 2020, with a CAGR of 11.2%. The global smartphone market is dominated by the Asia-Pacific region with a 40.7% market share, followed by Europe with 32.2% market share. Global smartphone shipment is expected to reach 2,968.9 million units by 2020.
Global Smartphone Market Overview
More than half of the world's population owns smartphones. It is an integrated and portable device that facilitates communication, data storage and access to the huge data available around the world. Smartphones have replaced technologies such as large desktops, cameras and expensive landline phones. Currently, smartphones are available at lower price compared to previous five years. Therefore, people in all income groups can pay for them, increasing the smartphone sales around the world.
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Drivers and Restraints:
Increasing disposable income increases the likelihood of consumers spending on media, entertainment, networks and mobile communications leading to higher potential sales of consumer electronics products such as smartphones, tablets, laptops and game consoles. The adoption of smartphones is very numerous among the urban population compared to the rural population. So there is a strong demand for smartphones in developed regions, where the proportion of urban population compared to the rural population is higher than in rural areas of developing regions. These factors have led to a surge in the global smartphone market in recent years and this trend is expected to continue over the next eight years.
Geographic Segmentation:
Based on geography, Global Smartphones Market is segmented into regions such as North America, Latin America, Europe, Middle East and Africa and Asia Pacific. Asia-Pacific dominates the smartphone market, followed by North America and Europe. The replacement of smartphones is an important trend that is driving the market in these regions. In addition, the Asia-Pacific market is expected to grow strongly with leading players such as Xiaomi Corporation, One Plus Corporation and Huawei Technologies Co Ltd. The smartphone market is experiencing a decline in revenues and shipments due to the maturity of the market in some countries. People in many countries do not replace their old phones frequently. They prefer to repair and restore their devices, which hurts the smartphone market.
Key Players in Global Smartphones Market:
Key players in Global Smartphones Market include Samsung Electronics Co. Ltd., Huawei Technologies Co. Ltd., Apple Inc., LG Electronics Inc., Lenovo Group Limited, ZTE Corporation, TCL Communication Technology Holdings Limited, and Vivo Communication Technology Co. Ltd. among others.
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Scope of the report:
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.
The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.
What else? Apart from the syndicated report, our in-house team has an expertise and experience in designing custom reports to meet your specific research needs and assist you in making well-informed decisions.
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About Us:
Research Cosmos is a provider of standard and customized market research, business intelligence and consulting services across more than 100 domains in different industries of the world. We host the trending market reports of the world’s top-notch publishing companies, offering services to a wide range of customers from students to fortune 500 companies and discloses the hidden opportunities in every leading industry of the world.
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