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The smartphone market is estimated to increase by 226.17 million units and grow at a CAGR of 3.44% between 2022 and 2027. AI in smartphones is rapidly driving market growth. AI is changing the way consumers interact with technology. AI is used in smartphones to offer features such as facial recognition and augmented reality (AR). Smartphone vendors are investing in R and D to ensure that they offer the best user experience using AI. Vendors such as Apple Inc. (Apple), Samsung Electronics Co. Ltd. (Samsung), and Huawei Investment and Holding Co. Ltd. (Huawei) have introduced AI-based chips on smartphones that can perform multiple operations per second and use significantly less power to perform these tasks. For instance, in October 2022, Google launched the Google Pixel 7 and 7 Pro smartphones, which include various AI-enabled features, such as Eraser and Photo Unblur, next-generation Google Assistant, and facial recognition to make payments and unlock the phone. Additionally, factors such as the adoption of premium smartphones in emerging countries and the adoption of bezel-less screens are key factors driving the market growth.
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This report extensively covers market segmentation by price range (between USD 150-USD 800, less than USD 150, and greater than USD 800), technology (Android, iOS, and others), screen size (between 5-6 inches, greater than 6 inches, and less than 5 inches), and geography (APAC, Europe, North America, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
The market share growth by the between USD150-USD800 segment will be significant during the forecast period. This segment covers mid-range smartphones. Vendors of such smartphones provide customers with various necessary features at a reasonable price range.
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The between USD 150-USD800 segment was valued at 1,055.72 million units in 2017 and continued to grow by 2021. Smartphone vendors have introduced features such as dual cameras, AI, Internet access, virtual reality, and gaming in mid-range smartphones. For instance, in December 2022, Xiaomi corporation announced the launch of a new smartphone Redmi K60 Pro priced at USD 569. Such new product launches are expected to drive the growth of the USD150-USD800 segment of the global market during the forecast period.
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APAC is estimated to contribute 66% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The market in APAC has grown significantly over the past few years. China, Japan, India, South Korea, and Indonesia are the major revenue-generating countries in the region. Rapid urbanization region has led to a rise in the disposable income of people, which has increased the purchasing power of customers. The growth of the smartphone market in the region is also driven by various other factors, including the development of telecom infrastructure and the emergence of budget-centric smartphones.
The Market is undergoing a revolution fueled by technological advancements and consumer demand. With increased disposable income, consumers are seeking more than just communication devices. Telecom infrastructure improvements pave the way for faster connectivity and seamless services, while affordable handsets democratize access to advanced features. Competitiveness intensifies as manufacturers race to integrate 5G gadgets and chips into their offerings. Enhanced cellular phone designs cater to evolving preferences, blending 4G and 5G network technologies seamlessly. Smartphone subscriptions soar as iOS, Android, and Windows Phone vie for market share. Artificial Intelligence powers human-system interaction, while IoT integration expands possibilities. E-commerce and m-commerce thrive, leveraging internet penetration. AI technology drives innovation across operating systems, with Android Jetpack and Firebase leading the charge alongside traditional languages like C++. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Market Driver
These factors will drive the growth of the market during the forecast period.
Significant Market Trend
Major Market Challenge
Key Market Customer Landscape
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Alphabet Inc. - The company offers Pixel 6A smartphone, which is designed with Gorilla Glass 3 display screen and has a 6.1-inch screen display.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The report forecasts market growth by revenue at global, regional, and country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
In today's fast-paced digital landscape, the market is witnessing a seismic shift fueled by the rapid evolution of 4G and 5G Network Technologies. With the advent of 5G, consumers are experiencing unprecedented connectivity speeds and capabilities, driving demand for cutting-edge 5G Cellphones embedded with advanced 5G Chips. This surge in 5G Gadgets is further propelled by the integration of AI technology and AR Technology, revolutionizing Human-System Interaction. As competition intensifies among Chipmakers and OEMs, affordability remains a key focus, with Entry-level Price Points opening up new market segments. The Digital India program is amplifying Internet penetration, while innovations like Matter-compatible products are reshaping the landscape. Amidst these transformations, the Market continues to thrive, poised for exponential growth.
The Market is witnessing a seismic shift with the advent of 5G technology, promising lightning-fast speeds and unparalleled connectivity. Affordable handsets equipped with advanced features cater to a burgeoning customer base. Android's dominance, bolstered by Android Jetpack and Android SDK, provides a fertile ground for application developers, integrating Artificial Intelligence and IoT seamlessly. C++ and Java remain pivotal in mobile chip development, enhancing competitiveness in the Telecom Sector. The Consumer Technology Sales and Forecast study by IDC indicates a surge in smartphone subscriptions driven by increased disposable income. Improved designs, robust telecom infrastructure, and innovations like Super TimeFreq Folding redefine user experiences. M-commerce thrives alongside Over-the-top Platform Subscriptions, marking a pivotal era in mobile internet usage. In this dynamic landscape, sales channels adapt to meet evolving consumer demands while semiconductors play a vital role in network development. Whether it's Firebase integration or Windows Phone advancements, the future of smartphones is poised for exponential growth.
The Market is evolving rapidly, driven by revolutionary advancements such as 5G capabilities and Artificial Intelligence integration. Android Operating System remains at the forefront, powering devices with seamless functionality. Enhanced cellular phone design and telecom infrastructure ensure superior user experiences. Insights from the International Data Corporation (IDC) shape industry strategies, while the Internet of Things (IoT) expands the realm of connectivity. Mobile chips and semiconductors enable cutting-edge performance, while Over-the-top (OTT) Platform Subscriptions redefine content consumption. Sales channels adapt to changing consumer preferences, offering a plethora of services tailored to individual needs. In this dynamic landscape, the Operating System emerges as the cornerstone of innovation, propelling the smartphone market towards unprecedented heights.
Artificial Intelligence (AI) technology is revolutionizing various industries, including telecommunications. Enhanced cellular phone designs leverage AI for improved user experiences, driving demand through efficient sales channels. Moreover, advancements in telecom infrastructure, supported by robust semiconductor technologies, facilitate seamless connectivity, fostering a conducive environment for innovation and economic growth.
Smartphone Market Scope |
|
Report Coverage |
Details |
Page number |
191 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.44% |
Market growth 2023-2027 |
226.17 million units |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
3.26 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 66% |
Key countries |
US, China, India, Germany, and Brazil |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Acer Inc., Alphabet Inc., Apple Inc., ASUSTeK Computer Inc., Guangdong OPPO Mobile Telecommunications Corp. Ltd., Honor Device Co. Ltd., HTC Corp., Kyocera Corp., Lava International Ltd., Lenovo Group Ltd., LG Corp., Micromax Informatics Ltd., Nokia Corp., Samsung Electronics Co. Ltd., Shenzhen Transsion Holdings Co. Ltd., Sony Group Corp., TCL Electronics Holdings Ltd., Xiaomi Communications Co. Ltd., ZTE Corp., and Huawei Technologies Co. Ltd. |
Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our market research report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Price Range
7 Market Segmentation by Technology
8 Market Segmentation by Screen Size
9 Customer Landscape
10 Geographic Landscape
11 Drivers, Challenges, and Trends
12 Vendor Landscape
13 Vendor Analysis
14 Appendix
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