Smartphone Market is Booming Worldwide | Apple, LG Electronics, Motorola Solutions

HTF Market Intelligence released a new research report of 62 pages on title 'Smartphone Market in India 2021' with detailed analysis, forecast and strategies. The study covers key regions that includes North America, Europe, Asia-Pacific, South America, Middle East and Africa and important players such as Apple India Private Limited , LG Electronics India Private Limited, Motorola Solutions, Nokia India Private Limited, OnePlus Technology India LLP, OPPO Mobiles India Pvt. Ltd., Realme Mobile Telecommunications (India) Private Limited Etc.

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Summary
A smartphone is a cellular phone that includes an integrated laptop as well as features not previously associated with telephones, such as an operating system, internet browsing, and the capacity to perform software applications. It also allow users to perform complex tasks such as editing documents, using social media, handling emails, and creating spreadsheets.

Market insights:
The market is driven by increased purchasing power, rise in the adoption of internet and data services, and introduction of smartphones with updated features at affordable prices. The launch of 5G smartphones is expected to bring exponential growth to the market in the coming years.
The market is expected to expand at a CAGR of ~14.46% during the 2021 – 2026 period to reach a shipment volume of 304.75 million units in 2026. Android smartphones account for ~95.50% of the total volume of shipment, followed by iOS smartphones at ~2.86%. In 2020, Xiaomi led the business with a 27.25% shipment share, followed by Samsung (21.50%).

Impact of COVID-19:
In the wake of the pandemic, the government imposed lockdown measures that reduced outdoor activities, resulting in a decline in the sale of smartphones at offline stores. The demand for smartphones surged, primarily because of remote learning, as well as virtual social gathering. Several people lost their jobs, while some took pay cuts. As a result, they refrained from purchasing devices with upgraded features.

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Government initiatives:
Several initiatives undertaken by the government have influenced the smartphone market. The Production Linked Incentive (PLI) scheme provided all electronics manufacturing companies with registered manufacturing units with a 4% to 6% incentive on incremental sales. The Modified Electronics Manufacturing Clusters scheme offered financial incentives to mobile phone manufacturers to develop world-class infrastructure and common facilities and amenities.

Key growth drivers of the market:
• The pricing pattern followed by the manufacturing companies, along with exclusive online distribution led to the spurt in demand for smartphones
• Consumers' preference shifted from standard feature phones to smartphones because of increased internet penetration to the internet

Key deterrents to the growth of the market:
• The high usage of smartphones has led to a rise in the number of cybercrimes occurring in the country
• The design and technology used by smartphone manufacturing companies have not met consumer expectations

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Competition analysis:
Smartphone users are inclined toward using Android over iOS or other operating systems. The key players include Xiaomi Technology India Private Limited, Samsung India Electronics Pvt. Ltd., and OPPO Mobiles India Pvt. Ltd.

Players Insights:
• Apple India Private Limited
• LG Electronics India Private Limited
• Motorola Solutions
• Nokia India Private Limited
• OnePlus Technology India LLP
• OPPO Mobiles India Pvt. Ltd.
• Realme Mobile Telecommunications (India) Private Limited
• Samsung India Electronics Pvt. Ltd.
• VIVO Mobile India Private Limited
• Xiaomi Technology India Private Limited

Chapter 1: Executive Summary
Chapter 2: Socio-economic Indicators

Chapter 3: Introduction
3.1. Market definition and structure
3.2. Smartphone operating platforms
3.3. Value chain analysis

Chapter 4: Global Position of India Smartphone Market
4.1. Global position of India smartphone market
Chapter 5: Smartphone Market in India
5.1 Smartphon

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This release was published on openPR.