Global Smartphones Market is estimated to reach US$ 520.7 Bn by 2030| CAGR: 7.6%: Astute Analytica

NEW DELHI, April 4, 2022 /PRNewswire/ -- According to the study undertaken by Astute Analytica, the Global Smartphones Market is estimated to witness a rise in revenue from US$ 273.9 Bn in 2021 to US$ 520.7 Bn by 2030. The market is registering a growth at a CAGR of 7.6% over the forecast period 2022-2030. In terms of volume, the market is recording a CAGR of 7.4% over the projection period. The rise in popularity of touchscreen smartphones and mobile apps distributed via app stores along with rapidly advancing network, mobile processor, and storage technologies led to a convergence where separate mobile phones, organizers, and portable media players were replaced by a smartphone as the single device most people carried. The market is majorly driven by factors such increasing penetration of IoT and rapid technological advancement.

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Internet of Things (IoT) device allows to receive and transmit data via the internet using sensors, software and other technologies. Smartphones are the most popular devices that use IoT data connectivity for various functions such as fitness tracking, GPS based guidance, Wi-Fi (wireless fidelity) and Bluetooth connectivity. Furthermore, rapid technological advancements such as AI enabled smartphones is triggering the market growth of smartphones. Companies such as Apple, Samsung, and Huawei have introduced smartphones with powerful AI chips that are capable of performing up to 5 trillion operations per second and is proven to use significantly lesser power. Moreover, 5G features in smartphones will further drive the market growth by improving network efficiency, faster communications and effective data management. However, the health risks due to prolonged exposure to smartphones is hindering the market growth.

Segmentation Analysis:

Androids holds the highest share in the Global Smartphones Market in 2021

Based on operating system, the smartphones market is segmented into Android, Windows, iOS and others. Among these, Androids holds the highest share in the Global Smartphones Market in 2021 and is further estimated to continue its dominance over the forecast period. Growth of the Android segment is attributed to an increase in demand and supply of reasonably priced Android mobile phones. However, the iOS segment has the highest CAGR over the projection period as it provides better customer support with its dedicated support app & website, better app selection and better data privacy & security as compared to other systems.

4GB-8GB RAM size leads the smartphones market in 2021

By RAM size, the market is categorized into below 2GB, 2GB-4GB, 4GB-8GB and above 8GB. The 4GB-8GB segment has the highest share in the smartphones market as greater RAM provides better performance. Also, this segment is ideal for gaming, multitasking, vlogging and for daily related works. Above 8GB RAM segment has the highest annual growth rate over the forecast period.

4G has the lion's share in the smartphones market in 2021

In terms of generation, the smartphones market is segmented into 3G, 4G and 5G. 4G has the highest share of 82% in the Global Smartphones Market in 2021, as 4G data network has revolutionized the whole industry and became integral part of everyone's life.

Above 5.0" screen size segment has the highest share in the smartphones market

By screen size, the market is segmented into below 4.0", 0"–5.0" and above 5.0". Among these, the above 5.0" segment has the highest market share in 2021 and also has the highest growth rate over the forecast period. With bigger screens, video-chatting and face time gets better, users can download an app enabling split screen functionality, play games with better resolution & clarity and can watch videos and photos with better composition.

Offline distribution channel leads the smartphones market in 2021

In terms of distribution channel, the smartphones market is divided into online and offline. The offline segment leads the smartphones market in 2021. The major factors like availability of offers, after support and more personalized services makes offline channel to hold highest market share. Online segment has the highest CAGR over the forecast period due to rise in digital literacy and growth of e-commerce across the globe.

Samsung holds the highest share in the Global Smartphones Market in 2021

Based on brand, the market is segmented into Apple, Samsung, Xiaomi, Oppo, Huawei, VIVO and others. Out of these, Samsung holds the highest share of 31% in the year 2021, whereas VIVO holds the highest CAGR of the projection period owing to major offerings in lower priced segment of the smartphone with rapid technological advancements and new features.

Asia Pacific dominates the Global Smartphones Market

Asia Pacific dominates the Global Smartphones Market in 2021 and is further estimated to continue its dominance over the forecast period. Also, the APAC region registers the highest CAGR during 2022-2030. The growth in APAC smartphones market is attributed to factors such as rising population, rising digitalization, improvement in telecom infrastructure and rising disposable incomes in countries such as India and China.

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Competitive Landscape

• Huawei technologies Company is a China based company and is engaged in telecommunications. It is a provider of information and communications technology (ICT) infrastructure and smart devices, with integrated solutions across four key domains – telecom networks, IT, smart devices, and cloud services.
• Vivo Communication Technology Co. Ltd., is a Chinese technology company headquartered in Dongguan, Guangdong that designs and develops smartphones, smartphone accessories, software and online services. The company develops software for its phones, distributed through its V-Appstore.
• Apple Inc. is a US based multinational technology company that manufactures consumer electronics, computer software and provides online services. In terms of units sold, Apple is the fourth largest producer of consumer smartphones in the world.
• Guangdong Oppo Mobile Telecommunications Corp., Ltd, doing business as OPPO. It is a Chinese consumer electronics and mobile communications company headquartered in Dongguan, Guangdong. Its major product lines include smartphones, smart devices, audio devices, power banks, and other electronic products.
• Xiaomi Corporation, registered in Asia as Xiaomi Inc., is a Chinese designer and manufacturer of consumer electronics and related software, home appliances, and household items. It is a manufacturer of smartphones, all of which run the MIUI operating system, a fork of Android. In 2020, the company sold 146.3 million smartphones and, as of August 2021, its MIUI operating system had over 450 million monthly active users.

Segmentation Overview

The following are the different segments of the Global Smartphones Market:

• By Operating System segment of the Global Smartphones Market is sub-segmented into:
• Android
• Windows
• iOS
• Palm OS
• Other (Sailfish, Tizen and Blackberry OS)
• By RAM Size segment of the Global Smartphones Market is sub-segmented into:
• Below 2GB
• 2GB-4GB
• 4GB-8GB
• More than 8GB
• By Generation segment of the Global Smartphones Market is sub-segmented into:
• 3G
• 4G
• 5G
• By Screen Size segment of the Global Smartphones Market is sub-segmented into:
• Below 4.0"
• 0"–5.0"
• Above 5.0"
• By Price Range segment of the Global Smartphones Market is sub-segmented into:
• < US$ 100
• US$ 101 – US$ 200
• US$ 201 – US$ 500
• > US$ 501
• By Distribution Channel segment of the Global Smartphones Market is sub-segmented into:
• Online
• Brand Website
• E-marketplaces
• Offline
• Multi Brand Store
• Brand Store
• By Brand segment of the Global Smartphones Market is sub-segmented into:
• Apple
• Samsung
• Xiaomi
• Oppo
• Huawei
• VIVO
• Others
• By Region segment of the Global Smartphones Market is sub-segmented into:
• North America
• The U.S.
• Canada
• Mexico
• Europe
• The UK
• Germany
• France
• Italy
• Spain
• Poland
• Russia
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• South America
• Argentina
• Brazil

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About Astute Analytica 

Astute Analytica is a global analytics and advisory company which has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in depth and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising of business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.

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