Press release
List of Smartphone Companies in the Worldwide 2024 | IMARC Group
Smartphone Companies
The global smartphone market size reached 1,468.4 Million Units in 2023. Looking forward, IMARC Group expects the market to reach 1,968.7 Million Units by 2032, exhibiting a growth rate (CAGR) of 3.2% during 2024-2032.
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The leading companies are constantly unveiling innovative mobile products with 5G technology, which in turn, is fueling the market growth. Currently, the human-system interaction phenomenon dominates the global technology business. Accordingly, mobile phone manufacturers and suppliers may seek opportunities based on current trends. The major companies are also strengthening their global presence by combining their forces with other local companies and retailers to promote and develop innovative handset technologies across the globe. Furthermore, the use of Artificial Intelligence (AI) technology in many mobile phones has boosted demand for smartphones. Major industry giants are introducing powerful smartphone AI processors that use significantly less power to accomplish more jobs and perform high operations per second.
Some of the Top Key players in the Global Smartphone Industry
• Apple Inc.
• HTC Corporation
• Huawei Technologies Co. Ltd. (Huawei Investment & Holding Co. Ltd.)
• Lava International
• Lenovo Group Limited
• Nokia Corporation
• Realme Chongqing Mobile Telecommunications Corp. Ltd. (BBK Electronics Corporation)
• Samsung Electronics Co. Ltd.
• Sony Corporation
• TCL Technology
• Xiaomi Corporation
• ZTE Corporation
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Moreover, prominent manufacturers are always enhancing their products in order to attract new customers and expanding their Operating System portfolio in order to strengthen their market position in all main countries. Aside from that, growing public and private backing for specialized research offers market participants lucrative opportunities. To improve their service offerings and remain competitive, the market's leading companies are forming strategic partnerships. In addition, consumers' interest in 5G gadgets is increasing. Thus, chipmakers are pressuring manufacturers to include 5G CPUs in their upcoming smartphone lineups. The market's key manufacturers are also focusing on network development and expansion. The smartphone market is very competitive and dominated by established firms. Most of these players continue to release new models with minor technological upgrades such as battery power, camera arrangement, and processing. This, in turn, is providing an impetus to the market growth.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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