Published on : Jul 27, 2018
Albany, New York, July 27, 2018: The smartphone industry is constantly evolving. Every year, there has been a lot of developments take place in the manufacturing of smartphone. Presently, smartphones are available at much lower price than before, therefore, people of all income groups can afford them. This has increased sales of smartphones across the globe. Market Research Hub (MRH) has freshly publicized a study titled “Smartphone Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 – 2026” to its massive repository, which revolves around the current scenario of global smartphone market with reference to the growth trajectory of the market in the past and in the future.
In this research study, market growth has been evaluated in terms of value estimates (US$ Mn) and volume shipments (million units), across different geographies. The geographical analysis section of the report highlights the market scope and trending factors influencing the market shares for each region. Regions highlighted in the study include Asia Pacific, North America, Europe Middle East & Africa, and South America. Sales, revenue and market share by key countries in these regions are also outlined in the study.
Key Insights from the Report
Smartphones have become a necessity rather than luxury. Growing dependency on smartphones for organizing work and personal data and affordability of the device is driving the market. As per the active research evaluations, the global smartphone market is projected to reach a value of US$ 1,503,280.1 Mn by 2026. In terms of volume, the global smartphone market is expected to reach 3,280.6 million units by 2026. In addition, the research study finds that the market value is anticipated to expand at a remarkable CAGR of 19.0% during the period from 2018 to 2026.
At present, key drivers of the smartphone market are global inflation rate, per-capita disposable income, penetration of high-speed internet, and mobile insurance acceptance rate. The research study further also adds that smartphone penetration has increased in the last two years. The smartphone market has reached market maturity in some major countries. In terms of geography, the study examines that Asia Pacific dominates the smartphone market, followed by North America and Europe. This is because smartphone replacement is a key trend in these regions.
Moreover, the research broadly categorizes the smartphone market on the basis of RAM size, operating system, distribution channel, price range, and size. By OS, Android is the most popular operating system among end-users, followed by iOS. In terms of price range, the market is divided into below US$ 100, US$ 100-200, US$ 200–500, US$ 500 and above. Based on RAM size, the market is categorized into below 2GB, 2GB–4GB, and up to 8GB.
Another important segment of the report throws light on the market competitive scenario among different market players. At present, key players active in this market include Apple, Inc., OPPO Co Ltd., Panasonic Corporation, Huawei Technologies Co Ltd., Sony Corporation, HTC Corporation, Samsung Electronics Co., Ltd., One Plus Corporation, Microsoft Corporation, LG Electronics Inc., Nokia Corporation, Xiaomi Corporation, Motorola Solutions, Inc., Google, Inc., and Lenovo Group Limited.
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