The Global Smartphones Industry To Hit A Valuation Of US$ 520.7 Billion By 2030, Says Astute Analytica

(MENAFN- GlobeNewsWire - Nasdaq) The smartphone industry is undergoing a notable shift in its manufacturing and supply chain approaches, as companies seek to diversify their production locations to enhance supply chain resilience. Manufacturers are placing greater emphasis on investing in research and development to integrate advanced technologies while still keeping their prices competitive.

New Delhi, Feb. 07, 2025 (GLOBE NEWSWIRE) -- According to recent findings from Astute Analytica, the global smartphones market is projected to witness a major leap forward in its revenue from US$ 273.9 Bn in 2021 to US$ 520.7 Bn by 2030. The market is registering a CAGR of 7.5% during the forecast period.

The smartphone market is experiencing significant growth, primarily driven by the increasing number of mobile applications that cater to a diverse range of functions. According to preliminary data from the International Data Corporation (IDC) Worldwide Quarterly Mobile Phone Tracker, global smartphone shipments rose by 6.5% year over year, reaching 285.4 million units in the second quarter of 2024. This growth marks the fourth consecutive quarter of rising shipments, indicating a positive momentum toward recovery in the industry. However, despite this upward trend, demand has not fully rebounded and continues to face challenges in various markets.

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2024 is shaping to be a pivotal comeback year for the smartphone industry, as it delivers the highest annual global shipment volume since the pandemic began. The market is registering a compound annual growth rate (CAGR) of 7.4% over the projected period, reflecting a robust recovery trajectory. A significant factor contributing to this surge in demand is the mass-market segment, which is benefiting from a refresh cycle of smartphones purchased during the pandemic, alongside efforts to replenish inventory across distribution channels. Many vendors have strategically capitalized on this trend by targeting the open-market channel and offering products that deliver strong value for money.

Continuous Demand for 5G-Compatible Smartphones to Add Impetus

In today's rapidly evolving technological landscape, 5G has emerged as a prominent feature in mobile phones, particularly in countries like the United States, India, China, South Korea, the United Kingdom, and Japan. The anticipation surrounding 5G compatibility is significant, with expectations that it will replace existing handsets within the next five years. This shift is largely driven by the convenience of integrated services such as cloud storage, content subscriptions, and access to high-speed networks, which enhance the overall user experience.

According to the Global System for Mobile Communications (GSMA), by 2025, it is projected that 20% of global connections will be 5G-enabled, with notable growth expected in regions like North America, Asia Pacific, and Europe. The advent of 5G is not just about faster internet speeds; it also heralds the rise of the Internet of Things (IoT), which will play a crucial role in this new era of connectivity. The integration of IoT with 5G technology is set to revolutionize how devices communicate and interact, paving the way for smarter homes, cities, and industries.

Moreover, the increasing demand for virtual and augmented reality applications is further bolstering the market presence of 5G-compatible mobile handsets. As consumers seek immersive experiences, the capabilities offered by 5G networks-such as lower latency and higher data transfer speeds-become essential. Additionally, the availability of low-cost, energy-efficient devices with fast charging capabilities is making 5G technology more accessible to a broader audience, contributing to its growing popularity worldwide.

As a result, the smartphone market is witnessing a significant boost in growth across both developing and developed countries. The transition to 5G is not merely a technological upgrade; it represents a fundamental shift in how we interact with our devices and the digital world. This evolution is expected to create new opportunities for innovation and economic growth, solidifying the importance of 5G in shaping the future of mobile technology.

Apple and Samsung are the Most Popular Brand Among Consumers

Apple and Samsung, the two tech giants, have remained resilient in the smartphone market, reflecting the continued premiumization trend. Samsung holds the highest share of 31% in the smartphone market in 2021.

In Apple's case, shipments of the iPhone 16 Pro and Pro Max in 2024 were 11% higher than the iPhone 15 Pro and Pro Max in 2023, reaching over 55 million units. The strong performance of the Pro models in the iPhone 16 series was a key driver to the iPhone 16 outperforming the launch year performance of the iPhone 15.

Samsung, the second-largest smartphone manufacturer, has 22.82% of the smartphone market share, just 5.56 percentage points less than Apple. The preliminary market results show that Samsung captured the top position in Q2 2024 with an 18.9% share of shipments, thanks to a strategic focus on its flagships and a strong AI strategy.

Apple and Samsung dominate the smartphone industry and own 51.2% of the share. These two smartphone giants have been leading the market since 2013. The continued premiumization trend in the smartphone market has been a key driver of their success, as both companies have focused on delivering high-end, feature-rich devices that cater to the growing demand for premium smartphones.

Top Players

• Apple
• Samsung
• Xiaomi
• Oppo
• Huawei'
• VIVO
• Micromax Informatics Ltd.
• Panasonic Corp
• HTC Corporation
• Nokia Corporation
• Others

Market Segmentation

By Operating System

• Android
• Windows
• iOS
• Palm OS
• Other (Sailfish, Tizen, and Blackberry OS)

By RAM Size

• Below 2GB
• 2GB-4GB
• 4GB-8GB
• More than 8GB

By Generation

• 3G
• 4G
• 5G

By Screen Size

• Below 4.0"
• 0"–5.0"
• Above 5.0"

By Price Range

• < US$ 100
• US$ 101 – US$ 200
• US$ 201 – US$ 500
• > US$ 501

By Distribution Channel

• Online

• • Brand Website

• • E-marketplaces

• Offline

• • Multi Brand Store

• • Brand Store

By Brand

• Apple
• Samsung
• Xiaomi
• Oppo
• Huawei
• VIVO
• Others

By Region

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America

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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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