Smartphones Market Sales to Top US$ 1.6 trillion by the end of 2031

Smartphones Market Size 2022

The global Smartphones Market Size is projected to register a healthy CAGR of 7.8% over the forecast period 2022-2031, and attain a market valuation of more than US$ 1.6 trillion by the end of 2031.

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The report provides insightful information on the global Smartphones Market Size pertaining to the value chain, market trends, competitive landscape, market dynamics, and market estimation and forecast for the projected ten-year period.

Rising disposable income increases the probability of consumer spending on media, entertainment, and networking and mobile communication; leading to higher potential sales of consumer electronics such as smartphones, tablets, laptops, and gaming consoles.

The instances of smartphone adoption are very high among the urban population as compared to the rural population - and hence there is high demand for smartphones in developed regions (where the urban to rural population ratio is higher than developing regions). These factors have led to a sudden growth of the global Smartphones Market Size over the last few years and this trend is likely to continue in the coming ten years.

The global Smartphones Market Size is expected to witness substantial growth over the forecast period owing to advancements in the electronic, telecommunication, and m-Commerce industry as well as the increasing penetration of the Chinese smartphone industry.

Key Players:

The report has profiled some of the Important players prevalent in the global like - Samsung Electronics Co., Ltd., Apple Inc., Huawei Technologies Co., Ltd., Lenovo Group Limited, LG Electronics Inc., TCL Communication Technology Holdings Limited, ZTE Corporation, Vivo Communication Technology Co. Ltd., Other and more.

This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Smartphones.          

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There is also a rising trend of m-commerce particularly among the working population, and this has increased the demand for smartphones with top-notch features supporting m-commerce.

Growing internet penetration, increasing marketing activities by vendors, and rising subscription in social media are some of the other key factors driving the growth of the global Smartphones Market Size. In the tug of war over customer acquisition and retention, brands are resorting to aggressive marketing and sales strategies to woo the new generation of smartphone wielding young professionals with attractive pricing, enhanced features, and multiple user options.

The global Smartphones Market Size is segmented on the basis of Operating System (Android, iOS, Windows, Blackberry Operating System, Other (Sailfish, Tizen, and Ubuntu)) and Distribution Channel (OEM, Retailer, e-Commerce).

On the basis of operating system, the iOS segment is anticipated to account for a relatively high value 3/5 share of the global market. The Android segment is expected to follow closely with 2/5 share in terms of value. In terms of volume, the Android operating system is estimated to account for the largest market share of nearly 70% by 2031.

The android segment is likely to register a high CAGR between 2022 and 2031 and this can be attributed to an increase in the demand and supply of reasonably priced android smartphones.

On the basis of distribution channel, the e-Commerce segment is expected to show a significantly high growth rate of nearly 8% followed by the OEM segment with approximately 7% growth rate by the end of 2031.

As compared to the other segments, the OEM segment is expected to exhibit a relatively high attractiveness index over the forecast period. In terms of value, the global Smartphones Market Size is likely to project a healthy incremental opportunity during the forecast period.

Region Coverage (Regional Production, Demand & Forecast by Countries etc.):
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
Asia-Pacific (China, India, Japan, Southeast Asia etc.)
South America (Brazil, Argentina etc.)
Middle East & Africa (Saudi Arabia, South Africa etc.)

Key Stakeholders
Smartphones Market Size Manufacturers
Smartphones Market Size Distributors/Traders/Wholesalers
Smartphones Market Size Subcomponent Manufacturers
Industry Association
Downstream Vendors

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Smartphones Market Size - Report Highlights

A detailed overview of parent market of Smartphones Market Size
Changing Smartphones Market Size dynamics in the industry
In-depth segmentation of the Smartphones Market Size
Historical, current, and projected Smartphones Market Size size regarding volume and value
Recent industry trends and developments in Smartphones Market Size
Competitive landscape of the Smartphones Market Size
Strategies for key players and products offered
Potential and niche segments, geographical regions exhibiting promising growth
A neutral perspective on Smartphones Market Size performance
Must-have information for Smartphones Market Size players to sustain and enhance their market footprint

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