Smartphone Market Share and Growth Factors Impact Analysis 2025

The Global Smartphone Market is expected to grow from USD 520.3 billion in 2018 to USD 2297.8 Billion by 2025, at a CAGR of 16.4%, during the forecast period.

Smartphones are objects of our daily lives that were once considered a luxury but now are in possession of almost every individual on the plant, linking them in a seamless manner. The obsession with this technology is expected to grow further at an alarming rate in the coming years. Since the earlier period, smartphones have altered the manner in which we live our lives. They are present in almost every area of our lives, whether it’s checking the weather to operating a business; the human race has become reliant on these little controlling devices to fulfill our tasks on a daily basis with no difficulty. The introduction of the smartphone in our daily lives has done away with certain things such as letters, calculators, and phonebooks, to name a few that have become obsolete in human society. Smartphones have time and again changed to better meet our rising needs in the shape of quicker wireless connections, sharper images, and superior memory storage, to name a few.

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The real smartphone revolution is believed to have started when Steve Jobs revealed the first iPhone. The previous phones, which had up until then been dependant on keypads and could work a simpler version of the internet. The iPhone’s huge touchscreen (at that time) could browse through websites similar to a desktop computer, all the while looking sleeker than anything customers had previously used before. The promise of 5G networks for the year 2020 suggest even quicker speeds and augmented bandwidth that many people think may facilitate the ushering in of life-changing technologies like virtual reality training, real-time telemedicine, and really smart cities. For instance, the critical telecom carriers in the European region have decided to reveal smartphone location data with the European Commission in order to improve on tracking the range of the coronavirus cases. The commission has said it will collect the location data anonymously in order to guard the confidentiality of users. The information will be used to organize measures such as the delivery of medical equipment, the location of quarantined patients, and more. The data is expected to be deleted after the emergency is over.

The future working spaces are expected to be driven on the mobility of devices such as smartphones. The trend of BYOD’s is gaining momentum around the world due to the effect of soaring electronic waste levels, in which smartphones are a significant contributor. The BYOD trend may not lead to the plausible impact immediately, but, over time, has the potential to reduce the number of devices a single person uses on a daily basis. The smartphones of the future are expected to only become more integrated into our daily lives with the support of technologies such as AI finding its way into smartphone designs.

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Leading Key Players in Smartphone Market are:

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)

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This release was published on openPR.