Growth of Smartphone Market due to Accelerating Investments in Digital Developments Across the Globe

The accelerating investments in digital developments across the globe are proliferating the demand for smartphones.

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The global smartphone market was valued at US$ 724.9 Bn in 2020 is expected to reach US$ 1,425.6 Bn by 2027, with a growing CAGR of 11.5% during the forecast period (2021-2027).

The smartphone penetration is rising across the emerging economies including Brazil, India, China, South Africa, Mexico, Indonesia, Poland, and Bangladesh among others. Emerging economies contribute to approximately 59% of the global smartphone shipment and the growth rate is the fastest among these markets. The factors such as internet penetration in the emerging economies are still below 50% and provide enormous opportunities for further growth. Smartphones are widely used by users from emerging economies to access the internet which is anticipated to increase smartphone penetration thereby driving the market revenue.

Global Smartphone Market Report 2021 comes with an extensive industry analysis of development components, patterns, flows, and sizes. The report also calculates present and past market values to forecast potential market management through the forecast period between 2021-2027. This research study of Smartphone involved the extensive usage of both primary and secondary data sources. This includes the study of various parameters affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies, and the technical progress in related industry

The Smartphone Market report has been segregated based on distinct categories, such as product type, application, end-user, and region. Each segment is evaluated based on CAGR, share, and growth potential.

List of Top Key Players in Smartphone Market Report are:  

  • BlackBerry
  • Huawei Technologies Co. Ltd.
  • Xiaomi Corporation
  • Vivo Communication Technology Co. Ltd.
  • Apple Inc.
  • Samsung Electronics
  • Oppo
  • Lenovo
  • LG
  • Nokia

Smartphone Industry 2021 Market Research Report provides exclusive vital statistics, data, information, trends, and competitive landscape details in this niche sector. This report provides the status of the Smartphone market forecast till 2027. Likely, the report also focuses on global major manufacturers of Smartphone market share providing information such as company profiles, product picture and specification, capacity, production, price, cost, revenue, and contact information. Upstream raw materials and equipment and downstream demand analysis are also carried out.

Smartphone Market Segmentation by Product Type:

  • By Operating System (Android, Windows, iOS, Others)
  • By RAM Size (2 GB, 3 GB – 4 GB, 6 GB, 8 GB, Above 8 GB)
  • By Storage Capacity (Less than 8 GB, 8 GB, 16 GB, 32 GB, 64 GB, 128 GB, More than 128 GB)
  • By Screen Size (Less Than 5 Inches, Between 5-6 Inches, Greater Than 6 Inches)
  • By Type (Single Sim, Dual Sim)
  • By Input Type (Touchscreen, Keypad, Keyboard)
  • By Price Range (Premium (US$ 800 – US$ 1000), Mid-Range (US$ 500 – US$ 799), Budget Phones (< US$ 500))

Smartphone Market Segmentation by Application:

  • Online (Third Party Website, Company Website))
  • Offline (Company Store, OEMs, Retailer, Others)

The report diversifies the global geographical expanse of the Smartphone market into five prominent regions such as Europe, APAC, MEA, North and South America.

The report can assist with understanding the market and plan for business extension appropriately. In the procedure examination, it gives experiences from marketing channel and market situating to potential development techniques, giving inside and out an investigation to new contestants or exists rivals in the Smartphone business. For every maker covered, this report investigates their Smartphone fabricating locales, limit, creation, ex-industrial facility value, income, and market share in the worldwide market.

Smartphone Market Key Findings:

  • Based on the operating system, the android segment accounted for 72.3% share in 2020 followed by iOS
  • Based on the type, dual sim held the largest market share and will continue to maintain its position throughout the forecast period
  • The online distribution channel is witnessing a compounded annual growth rate of 15.7% during 2020-2027
  • Based on regions, Asia Pacific accounted for 37.2% share in the smartphone market in the base year 2020

Recent News in Smartphone Industry:

  • In July 2020, Samsung introduced ‘Galaxy Z Flip 5G’, which is an updated variant of Galaxy Z Flip, which was launched earlier in the same year. The new smartphone has updated 5G radios by Qualcomm Snapdragon 865 Plus. The Galaxy Z Flip 5G is available in two colors Mystic Bronze and Mystic Gray
  • In April 2020, Apple introduced the second-generation iPhone SE with 4.7-inch Retina HD Display paired with Touch ID for industry-leading security. The new iPhone SE is powered by the Apple-designed A13 Bionic, with best single-camera system with dust and water resistance.

Get More Information at: https://www.alltheresearch.com/report/705/smartphone-market

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