Global Demand and Trends in the Smartphone Market and Industry Overall Performance Examined in New Study

Published on : Aug 18, 2017

Albany, New York, August 18, 2017: In this digital era, the smartphones are bringing a revolutionary change in the global marketplace. The adoption of smartphones is reaching its peak in the established countries, with majority sales now being generated from upgrades to a better device rather than first-time buying. Recently, a new study titled “Global Trends in the Smartphone Market and Industry” has been broadcasted to the vast repository of Market Research Hub (MRH), which outlines the current status of the smartphone market, in terms of shipment value and sales in the past few years. Moreover, the study also describes the market dynamics affecting the industry and analyzes their impact on the market, and further highlights the significant opportunities for market growth in the coming years.

Smartphones are the most demanded electronic devices today owing to a change in the lifestyle of people, also driven by the desire for always-on data at their fingertips. Besides making phone calls, nearly all smartphones today can natively provide directions through GPS, take pictures, play music, software applications, video calling, Wi-Fi hotspots, keep track of appointments & contacts and much more. With a growing trend of m-commerce mainly among the working population, there is an increasing demand for smartphones with top-notch features supporting m-commerce.

This report provides an overview of the smartphone development around the globe, along with an in-depth analysis of branded smartphones' competitiveness from both price and specification perspectives which include CPU, display, memory, battery, camera and fingerprint ID scanning solution. As per the key findings, bolstered by the steady economic recovery in 2017 that drive replacement demand, and first-time smartphone buyers in emerging markets, the global smartphone shipment volume is forecast to grow at 6.3% year-on-year to nearly 1.6 billion units.

The report then shifts focus towards the recent updates in the development of key components such as mobile processor and OLED display. At present, Snapdragon 835, the chipset is one of the most powerful processors available in the market. Right now, there are no smartphones that come with the Snapdragon 835. Also, OLED display technology is now exceeding the performance of the best LCDs for Smartphones. With the speedily growing demand for OLED Smartphone displays, a number of LCD display manufacturers are starting OLED production lines for Smartphone displays.

There are numerous smartphone manufacturing companies in the mobile phone market. Some of the prominent players covered in the study are Apple, ASUS, Blackberry, Huabei Electronic, Foxconn, Gione, Lenovo, Nokia, Oppo, HTC etc. It has been analyzed that these companies’ impressive growth has been occurred due to selling in second tier cities and rural areas, using celebrities in marketing, and by competing on specific features to stand out from the pack.

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