Smartphones Market Will Touch a New Level of Development in Future by Top Companies– Huawei Technologies Co., Ltd., Apple Inc., Vivo Communication Technology Co. Ltd., Xiaomi Corporation, Nokia Corporation, AsusTek Computer Inc., Sony Corporation, Micro

Global Smartphones Market is valued approximately at USD 715 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 11.2% over the forecast period 2020-2027. A smartphone is a mobile device that integrates mobile computing and cellular functions in a single unit. Over the years, smartphones are fast developing a feasible replacement to personal digital assistants (PDAs) and laptops, providing phone features like SMS and voice along with mobile internet applications, high-speed data processing proficiencies, multimedia functionality, and ingrained GPS proficiencies. Enhanced hardware and swifter wireless communication (due to standards like LTE) have bolstered the demand for Smartphones, thereby accelerating the market growth all over the world. Furthermore, escalating demand for technologically-advanced smartphone, rising penetration of internet and social media platforms, and increasing disposable income and changing lifestyle of individuals are the few factors responsible for the healthy CAGR of the market during the forecast period. According to Statista, the smartphone unit shipments around the world stood at about 1.6 billion units in 2017, demonstrating a rise of about 7.17% from 2014 (1.3 billion-unit smartphone shipments).

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Major market player included in this report are:
Samsung Electronics
Huawei Technologies Co., Ltd.
Apple Inc.
Vivo Communication Technology Co. Ltd.
Xiaomi Corporation
Nokia Corporation
AsusTek Computer Inc.
Sony Corporation
Micromax Informatics Ltd.
HTC Corporation

While as per the International Data Corporation (IDC), the global smartphone vendors dispatched a total of 369.8 million units of smartphone in the fourth quarter of 2019. Similarly, China holds the leading position in term of smartphone shipment. According to Statista, in 2019, there were 690 million smartphone users in China, representing an increase from 480 million smartphone users in 2014. Thus, the rapid growth of smartphone penetration around the world is anticipated to accelerate the market growth in the forthcoming period. However, data security & privacy concern and health issues due to overconsumption of smartphone are the few factors inhibiting the market growth over the forecast period of 2020-2027.

The regional analysis of the global Smartphones market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and the Rest of the World. Asia-pacific is the leading/significant region across the world in terms of market share owing to the rise in production of smartphone and internet penetration, along with the presence of a significant number of smartphone manufacturers in the region. Whereas Asia-Pacific is also anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the advent of 5G infrastructure networking and the existence of large customer-base in developing countries, such as China and India, would create lucrative growth prospects for the Smartphones market across the Asia-Pacific region.

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

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The detailed segments and sub-segment of the market are explained below:
By Operating System:
Android
iOS
Windows
Others

By Distribution Channel:
OEM
Retailer
E-Commerce

By Price Range:
Premium segment
Mid-Range Phones
Budged Phones

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027

Target Audience of the Global Smartphones Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors

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This release was published on openPR.