Smartphone Market: Global Industry Analysis and Forecast (2023-2029)

Smartphone Market size was valued at 1.72 Bn. in 2022 and the total revenue is expected to grow at 12 % through 2023 to 2029, reaching nearly 3.81 Bn.

Smartphone Market Overview:

Phones with facilities such as text messaging, voice calling, camera, gaming, Bluetooth, internet access, etc., are referred to as Smartphone. The excessive production of Smartphone is due to factors such as lower costs, improved design, and functionalities such as mobile browsing and email services, the emergence of new network technologies such as 3G and 4G, improved professional and personal data supervision, and the standardization and upgrade of all operating systems.

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Smart phone Market Dynamics:

The smartphone penetration rate has continued climbing, reaching 46.6 percent in 2021. Smartphone are the most common and essential electronic devices and it has become a norm. The desire for high-speed data connectivity for integrated IoT applications like energy management and smart home devices is expected to drive 5G smartphone adoption. Iconic design, innovative applications, and increasing use of the internet are driving the growth of the market. The increase in disposable income of the region leading to consumer preference and spending on Smartphone. This factor is expected to drive market growth through the forecast period. Back-end operations such as predictive maintenance, chatbots together with the rising adoption of biometrics are expected to drive the smartphone market growth. From watching digital information to paying for goods and services with our mobile phones, technology is transforming how we access a variety of products and services. In emerging economies, the expansion of mobile internet and smartphone connectivity is offering new and exciting opportunities. Market trends and challenges are analyzed and compiled in the report. The data of 2021 is considered for a better understanding of the client. Moreover, Analytics of the market is based on real numbers of past years from 2016 to 2022 with market forecast until 2029.

Smartphone Market Segment Analysis:

By Operating System, the Android segment dominated the market with an 84.3 % share in 2021. In comparison to Android, iOS has less flexibility and customizability. Android is more free-form, which translates to a larger phone selection and more OS customization choices once you're up and running. Google also provides several development tools, like Android Jetpack, Firebase, and Android SDK, to help developers create a user-friendly experience. Many app developers prefer Android OS to develop gaming/entertainment apps, social media apps, utility mobile apps, and lifestyle apps, among other things, because it demands developers to know languages like C++, Kotlin, and Java, among others. iOS is expected to grow at a CAGR of 3.4 % through the forecast period. Advanced technology, Data security, ease of use, and brand image are factors expected to drive the market growth of iOS systems through the forecast period. By Distribution Channel, OEM dominated the market with a 41.3 % share in 2021. Consumers prefer to buy a smartphone from OEM because of the guarantee of the product and the exclusiveness they offer to the consumer. In various regions like the Asia Pacific where sales do not appear to decline, OEMs are expanding and taking advantage of the market opportunity. E-Commerce is expected to grow at a CAGR of 6.7 % through the forecast period. E-commerce offering various deals and discounts in online shopping culture is expected to boost the market growth. The wide range of availability with colors, brands, the price range of Smartphone in E-commerce is driving the segment growth in the market. By Price, Mid End dominated the market with a 39.3 % share in 2021. Rising unemployment rates and job uncertainty have influenced consumers' buying patterns towards economic and affordable products. Consumers increasingly want a better value proposition from their phones with affordable pricing these factor is driving the market growth of the segment. The low-end segment is expected to grow at a CAGR of 2.7 % through the forecast period. In rural areas, the increase in awareness and adoption of Smartphone is expected to drive segment growth in the market. Rural areas prefer low-end Smartphone as their income is less.

Regional Insights:

Asia Pacific region dominated the market with a 40.6 % share in 2021. Countries like China, India are the most preferred areas for Technology companies. Rising disposable income and a growing population in this region are key factors contributing to market growth. People in the Asia Pacific are adopting new technology and services at an increasing rate, which is predicted to fuel smartphone demand in the near future. North American and European region is expected to grow at a CAGR of 3.3 % through the forecast period and expected to witness a shipment decline. This is due to the smartphone maturity stage in these regions. The objective of the report is to present a comprehensive analysis of the Smartphone market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the Smartphone market dynamics, structure by analyzing the market segments and project the Smartphone market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Smartphone market make the report investor’s guide.

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Smartphone Market
Report Coverage Details
Base Year: 2022 Forecast Period: 2023-2029
Historical Data: 2018 to 2022 Market Size in 2022: 1.72 Bn
Forecast Period 2023 to 2029 CAGR: 12% Market Size in 2029: 3.81Bn
Segments Covered: by Operating System Android iOS Others
by Distribution Channel OEM Retailers E-Commerce
by Price Low End Mid-Tier High End

Smartphone Market, by Region

North America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (razil, Argentina Rest of South America)

Key Players

1. Apple 2. OPPO 3. Panasonic USA 4. Samsung Electronics 5. LG Electronics 6. Nokia 7. Sony 8. HTC 9. ONE PLUS 10. Huawei Technologies 11. Motorola Solutions 12. Google 13. Microsoft 14. Lenovo 15. Other players

Frequently Asked Questions:

1. Which region has the largest share in Global Smartphone Market? Ans: Asia Pacific region held the highest share in 2022. 2. What is the growth rate of Global Smartphone Market? Ans: The Global Smartphone Market is growing at a CAGR of 12% during forecasting period 2023-2029. 3. What is scope of the Global Smartphone Market report? Ans: Global Smartphone Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period. 4. Who are the key players in Global Smartphone Market? Ans: The important key players in the Global Smartphone Market are – Apple, OPPO, Panasonic USA, Samsung Electronics, LG Electronics, Nokia, Sony, HTC, ONE PLUS, and Huawei Technologies 5. What is the study period of this Market? Ans: The Global Smartphone Market is studied from 2022 to 2029.
1. Smartphone Market Introduction 1.1. Study Assumption and Market Definition 1.2. Scope of the Study 1.3. Executive Summary 2. Smartphone Market: Dynamics 2.1. Smartphone Market Trends by Region 2.1.1. North America Smartphone Market Trends 2.1.2. Europe Smartphone Market Trends 2.1.3. Asia Pacific Smartphone Market Trends 2.1.4. Middle East and Africa Smartphone Market Trends 2.1.5. South America Smartphone Market Trends 2.2. Smartphone Market Dynamics by Region 2.2.1. North America 2.2.1.1. North America Smartphone Market Drivers 2.2.1.2. North America Smartphone Market Restraints 2.2.1.3. North America Smartphone Market Opportunities 2.2.1.4. North America Smartphone Market Challenges 2.2.2. Europe 2.2.2.1. Europe Smartphone Market Drivers 2.2.2.2. Europe Smartphone Market Restraints 2.2.2.3. Europe Smartphone Market Opportunities 2.2.2.4. Europe Smartphone Market Challenges 2.2.3. Asia Pacific 2.2.3.1. Asia Pacific Smartphone Market Drivers 2.2.3.2. Asia Pacific Smartphone Market Restraints 2.2.3.3. Asia Pacific Smartphone Market Opportunities 2.2.3.4. Asia Pacific Smartphone Market Challenges 2.2.4. Middle East and Africa 2.2.4.1. Middle East and Africa Smartphone Market Drivers 2.2.4.2. Middle East and Africa Smartphone Market Restraints 2.2.4.3. Middle East and Africa Smartphone Market Opportunities 2.2.4.4. Middle East and Africa Smartphone Market Challenges 2.2.5. South America 2.2.5.1. South America Smartphone Market Drivers 2.2.5.2. South America Smartphone Market Restraints 2.2.5.3. South America Smartphone Market Opportunities 2.2.5.4. South America Smartphone Market Challenges 2.3. PORTER’s Five Forces Analysis 2.4. PESTLE Analysis 2.5. Technology Roadmap 2.6. Regulatory Landscape by Region 2.6.1. North America 2.6.2. Europe 2.6.3. Asia Pacific 2.6.4. Middle East and Africa 2.6.5. South America 2.7. Key Opinion Leader Analysis For Smartphone Industry 2.8. Analysis of Government Schemes and Initiatives For Smartphone Industry 2.9. Smartphone Market Trade Analysis 2.10. The Global Pandemic Impact on Smartphone Market 3. Smartphone Market: Global Market Size and Forecast by Segmentation by Demand and Supply Side (by Value in USD Million) 2022-2029 3.1. Smartphone Market Size and Forecast, by Operating System (2022-2029) 3.1.1. Android 3.1.2. iOS 3.1.3. Others 3.2. Smartphone Market Size and Forecast, by Distribution Channel (2022-2029) 3.2.1. OEM 3.2.2. Retailers 3.2.3. E-Commerce 3.3. Smartphone Market Size and Forecast, by Price (2022-2029) 3.3.1. Low End 3.3.2. Mid-Tier 3.3.3. High End 3.4. Smartphone Market Size and Forecast, by Region (2022-2029) 3.4.1. North America 3.4.2. Europe 3.4.3. Asia Pacific 3.4.4. Middle East and Africa 3.4.5. South America 4. North America Smartphone Market Size and Forecast by Segmentation (by Value in USD Million) 2022-2029 4.1. North America Smartphone Market Size and Forecast, by Operating System (2022-2029) 4.1.1. Android 4.1.2. iOS 4.1.3. Others 4.2. North America Smartphone Market Size and Forecast, by Distribution Channel (2022-2029) 4.2.1. OEM 4.2.2. Retailers 4.2.3. E-Commerce 4.3. North America Smartphone Market Size and Forecast, by Price (2022-2029) 4.3.1. Low End 4.3.2. Mid-Tier 4.3.3. High End 4.4. North America Smartphone Market Size and Forecast, by Country (2022-2029) 4.4.1. United States 4.4.1.1. United States Smartphone Market Size and Forecast, by Operating System (2022-2029) 4.4.1.1.1. Android 4.4.1.1.2. iOS 4.4.1.1.3. Others 4.4.1.2. United States Smartphone Market Size and Forecast, by Distribution Channel (2022-2029) 4.4.1.2.1. OEM 4.4.1.2.2. Retailers 4.4.1.2.3. E-Commerce 4.4.1.3. United States Smartphone Market Size and Forecast, by Price (2022-2029) 4.4.1.3.1. Low End 4.4.1.3.2. Mid-Tier 4.4.1.3.3. High End 4.4.2. Canada 4.4.2.1. Canada Smartphone Market Size and Forecast, by Operating System (2022-2029) 4.4.2.1.1. Android 4.4.2.1.2. iOS 4.4.2.1.3. Others 4.4.2.2. Canada Smartphone Market Size and Forecast, by Distribution Channel (2022-2029) 4.4.2.2.1. OEM 4.4.2.2.2. Retailers 4.4.2.2.3. E-Commerce 4.4.2.3. Canada Smartphone Market Size and Forecast, by Price (2022-2029) 4.4.2.3.1. Low End 4.4.2.3.2. Mid-Tier 4.4.2.3.3. High End 4.4.3. Mexico 4.4.3.1. Mexico Smartphone Market Size and Forecast, by Operating System (2022-2029) 4.4.3.1.1. Android 4.4.3.1.2. iOS 4.4.3.1.3. Others 4.4.3.2. Mexico Smartphone Market Size and Forecast, by Distribution Channel (2022-2029) 4.4.3.2.1. OEM 4.4.3.2.2. Retailers 4.4.3.2.3. E-Commerce 4.4.3.3. Mexico Smartphone Market Size and Forecast, by Price (2022-2029) 4.4.3.3.1. Low End 4.4.3.3.2. Mid-Tier 4.4.3.3.3. High End 5. Europe Smartphone Market Size and Forecast by Segmentation (by Value in USD Million) 2022-2029 5.1. Europe Smartphone Market Size and Forecast, by Operating System (2022-2029) 5.2. Europe Smartphone Market Size and Forecast, by Distribution Channel (2022-2029) 5.3. Europe Smartphone Market Size and Forecast, by Price (2022-2029) 5.4. Europe Smartphone Market Size and Forecast, by Country (2022-2029) 5.4.1. United Kingdom 5.4.1.1. United Kingdom Smartphone Market Size and Forecast, by Operating System (2022-2029) 5.4.1.2. United Kingdom Smartphone Market Size and Forecast, by Distribution Channel (2022-2029) 5.4.1.3. United Kingdom Smartphone Market Size and Forecast, by Price(2022-2029) 5.4.2. France 5.4.2.1. France Smartphone Market Size and Forecast, by Operating System (2022-2029) 5.4.2.2. France Smartphone Market Size and Forecast, by Distribution Channel (2022-2029) 5.4.2.3. France Smartphone Market Size and Forecast, by Price(2022-2029) 5.4.3. Germany 5.4.3.1. Germany Smartphone Market Size and Forecast, by Operating System (2022-2029) 5.4.3.2. Germany Smartphone Market Size and Forecast, by Distribution Channel (2022-2029) 5.4.3.3. Germany Smartphone Market Size and Forecast, by Price (2022-2029) 5.4.4. Italy 5.4.4.1. Italy Smartphone Market Size and Forecast, by Operating System (2022-2029) 5.4.4.2. Italy Smartphone Market Size and Forecast, by Distribution Channel (2022-2029) 5.4.4.3. Italy Smartphone Market Size and Forecast, by Price(2022-2029) 5.4.5. Spain 5.4.5.1. Spain Smartphone Market Size and Forecast, by Operating System (2022-2029) 5.4.5.2. Spain Smartphone Market Size and Forecast, by Distribution Channel (2022-2029) 5.4.5.3. Spain Smartphone Market Size and Forecast, by Price (2022-2029) 5.4.6. Sweden 5.4.6.1. Sweden Smartphone Market Size and Forecast, by Operating System (2022-2029) 5.4.6.2. Sweden Smartphone Market Size and Forecast, by Distribution Channel (2022-2029) 5.4.6.3. Sweden Smartphone Market Size and Forecast, by Price (2022-2029) 5.4.7. Austria 5.4.7.1. Austria Smartphone Market Size and Forecast, by Operating System (2022-2029) 5.4.7.2. Austria Smartphone Market Size and Forecast, by Distribution Channel (2022-2029) 5.4.7.3. Austria Smartphone Market Size and Forecast, by Price (2022-2029) 5.4.8. Rest of Europe 5.4.8.1. Rest of Europe Smartphone Market Size and Forecast, by Operating System (2022-2029) 5.4.8.2. Rest of Europe Smartphone Market Size and Forecast, by Distribution Channel (2022-2029) 5.4.8.3. Rest of Europe Smartphone Market Size and Forecast, by Price (2022-2029) 6. Asia Pacific Smartphone Market Size and Forecast by Segmentation (by Value in USD Million) 2022-2029 6.1. Asia Pacific Smartphone Market Size and Forecast, by Operating System (2022-2029) 6.2. Asia Pacific Smartphone Market Size and Forecast, by Distribution Channel (2022-2029) 6.3. Asia Pacific Smartphone Market Size and Forecast, by Price (2022-2029) 6.4. Asia Pacific Smartphone Market Size and Forecast, by Country (2022-2029) 6.4.1. China 6.4.1.1. China Smartphone Market Size and Forecast, by Operating System (2022-2029) 6.4.1.2. China Smartphone Market Size and Forecast, by Distribution Channel (2022-2029) 6.4.1.3. China Smartphone Market Size and Forecast, by Price (2022-2029) 6.4.2. S Korea 6.4.2.1. S Korea Smartphone Market Size and Forecast, by Operating System (2022-2029) 6.4.2.2. S Korea Smartphone Market Size and Forecast, by Distribution Channel (2022-2029) 6.4.2.3. S Korea Smartphone Market Size and Forecast, by Price (2022-2029) 6.4.3. Japan 6.4.3.1. Japan Smartphone Market Size and Forecast, by Operating System (2022-2029) 6.4.3.2. Japan Smartphone Market Size and Forecast, by Distribution Channel (2022-2029) 6.4.3.3. Japan Smartphone Market Size and Forecast, by Price (2022-2029) 6.4.4. India 6.4.4.1. India Smartphone Market Size and Forecast, by Operating System (2022-2029) 6.4.4.2. India Smartphone Market Size and Forecast, by Distribution Channel (2022-2029) 6.4.4.3. India Smartphone Market Size and Forecast, by Price (2022-2029) 6.4.5. Australia 6.4.5.1. Australia Smartphone Market Size and Forecast, by Operating System (2022-2029) 6.4.5.2. Australia Smartphone Market Size and Forecast, by Distribution Channel (2022-2029) 6.4.5.3. Australia Smartphone Market Size and Forecast, by Price (2022-2029) 6.4.6. Indonesia 6.4.6.1. Indonesia Smartphone Market Size and Forecast, by Operating System (2022-2029) 6.4.6.2. Indonesia Smartphone Market Size and Forecast, by Distribution Channel (2022-2029) 6.4.6.3. Indonesia Smartphone Market Size and Forecast, by Price (2022-2029) 6.4.7. Malaysia 6.4.7.1. Malaysia Smartphone Market Size and Forecast, by Operating System (2022-2029) 6.4.7.2. Malaysia Smartphone Market Size and Forecast, by Distribution Channel (2022-2029) 6.4.7.3. Malaysia Smartphone Market Size and Forecast, by Price (2022-2029) 6.4.8. Vietnam 6.4.8.1. Vietnam Smartphone Market Size and Forecast, by Operating System (2022-2029) 6.4.8.2. Vietnam Smartphone Market Size and Forecast, by Distribution Channel (2022-2029) 6.4.8.3. Vietnam Smartphone Market Size and Forecast, by Price(2022-2029) 6.4.9. Taiwan 6.4.9.1. Taiwan Smartphone Market Size and Forecast, by Operating System (2022-2029) 6.4.9.2. Taiwan Smartphone Market Size and Forecast, by Distribution Channel (2022-2029) 6.4.9.3. Taiwan Smartphone Market Size and Forecast, by Price (2022-2029) 6.4.10. Rest of Asia Pacific 6.4.10.1. Rest of Asia Pacific Smartphone Market Size and Forecast, by Operating System (2022-2029) 6.4.10.2. Rest of Asia Pacific Smartphone Market Size and Forecast, by Distribution Channel (2022-2029) 6.4.10.3. Rest of Asia Pacific Smartphone Market Size and Forecast, by Price (2022-2029) 7. Middle East and Africa Smartphone Market Size and Forecast by Segmentation (by Value in USD Million) 2022-2029 7.1. Middle East and Africa Smartphone Market Size and Forecast, by Operating System (2022-2029) 7.2. Middle East and Africa Smartphone Market Size and Forecast, by Distribution Channel (2022-2029) 7.3. Middle East and Africa Smartphone Market Size and Forecast, by Price (2022-2029) 7.4. Middle East and Africa Smartphone Market Size and Forecast, by Country (2022-2029) 7.4.1. South Africa 7.4.1.1. South Africa Smartphone Market Size and Forecast, by Operating System (2022-2029) 7.4.1.2. South Africa Smartphone Market Size and Forecast, by Distribution Channel (2022-2029) 7.4.1.3. South Africa Smartphone Market Size and Forecast, by Price (2022-2029) 7.4.2. GCC 7.4.2.1. GCC Smartphone Market Size and Forecast, by Operating System (2022-2029) 7.4.2.2. GCC Smartphone Market Size and Forecast, by Distribution Channel (2022-2029) 7.4.2.3. GCC Smartphone Market Size and Forecast, by Price (2022-2029) 7.4.3. Nigeria 7.4.3.1. Nigeria Smartphone Market Size and Forecast, by Operating System (2022-2029) 7.4.3.2. Nigeria Smartphone Market Size and Forecast, by Distribution Channel (2022-2029) 7.4.3.3. Nigeria Smartphone Market Size and Forecast, by Price (2022-2029) 7.4.4. Rest of ME&A 7.4.4.1. Rest of ME&A Smartphone Market Size and Forecast, by Operating System (2022-2029) 7.4.4.2. Rest of ME&A Smartphone Market Size and Forecast, by Distribution Channel (2022-2029) 7.4.4.3. Rest of ME&A Smartphone Market Size and Forecast, by Price (2022-2029) 8. South America Smartphone Market Size and Forecast by Segmentation (by Value in USD Million) 2022-2029 8.1. South America Smartphone Market Size and Forecast, by Operating System (2022-2029) 8.2. South America Smartphone Market Size and Forecast, by Distribution Channel (2022-2029) 8.3. South America Smartphone Market Size and Forecast, by Price(2022-2029) 8.4. South America Smartphone Market Size and Forecast, by Country (2022-2029) 8.4.1. Brazil 8.4.1.1. Brazil Smartphone Market Size and Forecast, by Operating System (2022-2029) 8.4.1.2. Brazil Smartphone Market Size and Forecast, by Distribution Channel (2022-2029) 8.4.1.3. Brazil Smartphone Market Size and Forecast, by Price (2022-2029) 8.4.2. Argentina 8.4.2.1. Argentina Smartphone Market Size and Forecast, by Operating System (2022-2029) 8.4.2.2. Argentina Smartphone Market Size and Forecast, by Distribution Channel (2022-2029) 8.4.2.3. Argentina Smartphone Market Size and Forecast, by Price (2022-2029) 8.4.3. Rest Of South America 8.4.3.1. Rest Of South America Smartphone Market Size and Forecast, by Operating System (2022-2029) 8.4.3.2. Rest Of South America Smartphone Market Size and Forecast, by Distribution Channel (2022-2029) 8.4.3.3. Rest Of South America Smartphone Market Size and Forecast, by Price (2022-2029) 9. Global Smartphone Market: Competitive Landscape 9.1. MMR Competition Matrix 9.2. Competitive Landscape 9.3. Key Players Benchmarking 9.3.1. Company Name 9.3.2. Business Segment 9.3.3. End-user Segment 9.3.4. Revenue (2022) 9.3.5. Company Locations 9.4. Leading Smartphone Market Companies, by market capitalization 9.5. Market Structure 9.5.1. Market Leaders 9.5.2. Market Followers 9.5.3. Emerging Players 9.6. Mergers and Acquisitions Details 10. Company Profile: Key Players 10.1. Apple 10.1.1. Company Overview 10.1.2. Business Portfolio 10.1.3. Financial Overview 10.1.4. SWOT Analysis 10.1.5. Strategic Analysis 10.1.6. Scale of Operation (small, medium, and large) 10.1.7. Details on Partnership 10.1.8. Regulatory Accreditations and Certifications Received by Them 10.1.9. Awards Received by the Firm 10.1.10. Recent Developments 10.2. OPPO 10.3. Panasonic USA 10.4. Samsung Electronics 10.5. LG Electronics 10.6. Nokia 10.7. Sony 10.8. HTC 10.9. ONE PLUS 10.10. Huawei Technologies 10.11. Motorola Solutions 10.12. Google 10.13. Microsoft 10.14. Lenovo 10.15. Other players 11. Key Findings 12. Industry Recommendations 13. Smartphone Market: Research Methodology 14. Terms and Glossary
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