Mobile Phone Market Size to Grow by 551.42 mn from 2020 to 2025 | Growing Adoption of Smartphones to Drive Growth | Technavio

Some of the primary growth drivers for the mobile phone market are the growing adoption of smartphones, launch of mobile phones with 5G technology, and growing adoption of AI in smartphones, according to Technavio. However, factors such as concerns associated with security and privacy may challenge market growth.

Market Segmentation Highlights

• The mobile phone market has been segmented by type into smartphone and feature phone.
• The smartphone segment has experienced significant market share growth.

Regional Analysis

• Based on geography, the mobile phone market has been segmented into five regions, namely APAC, Europe, North America, South America, and MEA.
• 42% of the growth will originate from APAC.
• China and India are the key countries for the mobile phone market in APAC.
• The launch of mobile phones with 5G technology will drive the mobile phone market growth in APAC during the forecast period.

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Notes:

• The mobile phone market size is expected to accelerate at a CAGR of 5.76% during the forecast period.
• The mobile phone market is segmented type (smartphone and feature phone) and geography (APAC, Europe, North America, South America, and MEA).
• The market is fragmented due to the presence of many established vendors holding significant market share.
• This report offers information on several market vendors, including Apple Inc., ASUSTeK Computer Inc., BBK Electronics Corp. Ltd., Huawei Investment and Holding Co. Ltd., Lenovo Group Ltd., Nokia Corp., Samsung Electronics Co. Ltd., Sony Corp., Xiaomi Corp., and ZTE Corp.

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SOURCE Technavio