Smartphones Market Worth USD 739.23 Billion By 2031 With Android Segment Holding 69.21% Market Share And AI Adoption Accelerates Growth, Reports Mordor Intelligence

(MENAFN- GlobeNewsWire - Nasdaq) The smartphones market growth is driven by increasing adoption of 5G-enabled devices, rising consumer demand for AI-powered features, and growing smartphone penetration across emerging economies. The market is projected to register a CAGR of 3.94% during 2026–2031, supported by advancements in on-device artificial intelligence, premium smartphone upgrades, foldable device innovations, enhanced camera technologies, and expanding digital ecosystems across consumer, enterprise, gaming, and mobile commerce applications worldwide.

Hyderabad, India, June 01, 2026 (GLOBE NEWSWIRE) -- Mordor Intelligence has published a new report on the smartphones market, providing a comprehensive analysis of market dynamics, technological advancements, competitive developments, and future growth opportunities across key regions worldwide.

According to Mordor Intelligence, the smartphones market size is expected to grow from USD 609.29 billion in 2026 and is forecast to reach USD 739.23 billion by 2031, registering a CAGR of 3.94% during 2026-2031. The market continues to evolve as manufacturers integrate advanced artificial intelligence capabilities, improved camera systems, enhanced connectivity, and energy-efficient hardware into new product launches. Market estimates indicate that increasing 5G adoption, growing consumer demand for premium devices, and the expansion of digital ecosystems are supporting long-term smartphones market growth. As per published reports, smartphone vendors are also focusing on foldable designs, on-device AI functionality, and sustainable manufacturing practices to strengthen their competitive positioning within the global smartphones industry.

Smartphones Market Evolution Through AI and 5G Adoption

AI Features Are Shaping Consumer Upgrade Decisions

Advanced AI capabilities are becoming a key factor influencing smartphone purchases. Consumers are increasingly attracted to devices that offer smarter personalization, improved photography, real-time language assistance, and productivity tools directly on the handset. As manufacturers continue to enhance on-device AI performance, premium smartphones are gaining stronger appeal among users seeking a more seamless digital experience.

Ashish Gautam, Senior Research Manager, Mordor Intelligence says, "As smartphone market dynamics continue to evolve across regions and price segments, decision-makers require analysis grounded in consistently applied research standards and transparent evaluation of market developments. Mordor Intelligence combines structured industry monitoring, multi-source validation, and disciplined analytical frameworks to provide a balanced view of emerging opportunities and competitive shifts, helping stakeholders make informed business decisions with greater confidence.”

Affordable 5G Devices Expand Market Reach

The growing availability of budget-friendly 5G smartphones is helping accelerate adoption across developing markets. Smartphone brands are introducing feature-rich devices at accessible price points, allowing more consumers to transition to next-generation connectivity. Supportive manufacturing initiatives and expanding network infrastructure are further encouraging smartphone upgrades and broadening market opportunities.

Table of Contents (Partial) - Smartphones Industry

1. INTRODUCTION

1.1 Study Assumptions and Market Definition

1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET LANDSCAPE

4.1 Market Overview

4.2 Market Drivers

4.2.1 AI-Enabled Upgrade Cycle Accelerates Replacements (On-Device GenAI, Multimodal Assistants)

4.2.2 Premiumization Sustained by Financing, Trade-Ins, and Extended Software Support

4.2.3 Entry-Level 5G Proliferation in Emerging Markets

4.2.4 Foldable Maturation Expands High-Value Niches

4.2.5 Others

4.3 Market Restraints

4.3.1 Memory Supply Tightness Lifts BoM Costs, Pressuring Low-End Android

4.3.2 Used or Refurbished Smartphone Growth Cannibalizes New Device Demand

4.3.3 Slower Refresh Cycles from Durability and Incremental Innovation

4.3.4 Geopolitics and Tariffs Shifting SKUs, Raising Logistics Complexity

4.4 Industry Value Chain Analysis

4.5 Macroeconomic Impact Analysis

4.6 Regulatory Landscape

4.6.1 Spectrum Allocation and Licensing (2G/3G/4G/5G)

4.6.2 eSIM Readiness and IoT Device Enablement

4.6.3 Device Import Policy and Local Manufacturing or Assembly Rules

4.7 Technological Outlook

4.7.1 SoC Roadmaps (NPU TOPS, RF Integration, Satellite NTN)

4.7.2 Display Stack (LTPO, Micro-Lens OLED, UDR Glass, Anti-Reflective Coatings)

4.7.3 Camera or Computational Photography (Periscope, Stacked Sensors, ISP or AI Fusion)

4.7.4 Battery or Charging (Silicon Anodes, GaN Fast Charge, BMS Safety)

4.7.5 Others

4.8 Smartphone Device Lifecycle Analysis

4.8.1 Stakeholder Lifecycle Mapping

4.8.2 Key Pain-Point Analysis by Stakeholder

4.9 Porter's Five Forces Analysis

4.9.1 Bargaining Power of Suppliers

4.9.2 Bargaining Power of Buyers

4.9.3 Threat of New Entrants

4.9.4 Threat of Substitutes

4.9.5 Intensity of Competitive Rivalry

5. MARKET SIZE AND GROWTH FORECASTS (VALUE AND VOLUME)

5.1 Overall Market Estimates

5.1.1 Total Market Value (USD)

5.1.2 Total Market Volume (Units)

5.2 By Operating System (Value and Volume)

5.2.1 Android

5.2.2 iOS

5.2.3 Others (HarmonyOS, KaiOS)

5.3 By Price Band (Value and Volume)

5.3.1 Entry-Level (Less Than USD 200)

5.3.2 Mid-Range (USD 200-499)

5.3.3 Premium (USD 500-799)

5.3.4 Ultra-Premium (More Than USD 800)

5.4 By Technology (Network Generation) (Value)

5.4.1 5G

5.4.2 4G or LTE

5.4.3 3G and Below

5.5 By Form Factor (Value)

5.5.1 Bar

5.5.2 Foldable or Flip

5.5.3 Rugged or Industrial

5.6 By Distribution Channel (Value)

5.6.1 Operator or Carrier Stores

5.6.2 Brand-Owned Retail

5.6.3 Multi-Brand Physical Retail

5.6.4 Online Direct-to-Consumer

5.7 By End User (Value)

5.7.1 Consumer or Individual

5.7.2 Enterprise or SME

5.7.3 Public Sector or Government

5.8 By Geography (Value)

5.8.1 North America

5.8.1.1 United States

5.8.1.2 Canada

5.8.1.3 Mexico

5.8.2 South America

5.8.2.1 Brazil

5.8.2.2 Argentina

5.8.2.3 Chile

5.8.2.4 Colombia

5.8.2.5 Rest of South America

5.8.3 Europe

5.8.3.1 Germany

5.8.3.2 France

5.8.3.3 United Kingdom

5.8.3.4 Italy

5.8.3.5 Spain

5.8.3.6 Russia

5.8.3.7 Rest of Europe

5.8.4 Asia-Pacific

5.8.4.1 China

5.8.4.2 India

5.8.4.3 Japan

5.8.4.4 South Korea

5.8.4.5 Southeast Asia (Singapore, Thailand, Indonesia, Vietnam, Philippines, Malaysia)

5.8.4.6 Australia

5.8.4.7 Rest of Asia-Pacific

5.8.5 Middle East

5.8.5.1 Saudi Arabia

5.8.5.2 United Arab Emirates

5.8.5.3 Rest of the Middle East

5.8.6 Africa

5.8.6.1 South Africa

5.8.6.2 Nigeria

5.8.6.3 Rest of Africa

6. COMPETITIVE LANDSCAPE

6.1 Market Concentration

6.2 Strategic Moves (M&A, Partnerships, Local Assembly MoUs)

6.3 Market Share Analysis

6.4 Company Profiles

6.4.1 Apple Inc.

6.4.2 Samsung Electronics Co. Ltd

6.4.3 Xiaomi Corporation

6.4.4 OPPO (incl. OnePlus)

6.4.5 Vivo Communication Technology Co., Ltd.

6.4.6 Transsion Holdings Co., Ltd. (TECNO, Infinix, itel)

6.4.7 Huawei Technologies Co., Ltd

6.4.8 Honor Device Co., Ltd.

6.4.9 Google LLC

6.4.10 and more

7. MARKET OPPORTUNITIES AND FUTURE OUTLOOK

7.1 White-Space and Unmet-Need Assessment

Smartphones Market Segmentation Analysis

The market is segmented as follows:

By Operating System

• Android

• iOS

By Distribution Channel

• Online Retail

• Offline Retail

By Geography

• North America

• Europe

• Asia-Pacific

• Latin America

• Middle East & Africa

Smartphones Market Growth Across Key Geographies

Asia-Pacific Continues to Drive Market Expansion

Asia-Pacific remains a key hub for the smartphones market, supported by strong consumer demand, expanding local manufacturing capabilities, and ongoing investments in mobile technology. Countries such as China and India continue to play a crucial role in shaping production, innovation, and smartphone adoption across the region.

Middle East Emerges as a High-Growth Opportunity

The Middle East is witnessing increasing demand for advanced smartphones, driven by digital transformation initiatives and growing interest in premium mobile experiences. Expanding network infrastructure and technology-focused government programs are further supporting smartphone adoption across the region.

Check out related reports published by Mordor Intelligence:

Used and Refurbished Smartphone Market Trends

The Used and Refurbished Smartphone Market is expected to reach USD 69.66 billion in 2026 and grow to USD 96.99 billion by 2031, registering a CAGR of 6.84% during the forecast period. Market growth is being driven by rising consumer demand for affordable smartphones, increasing awareness of sustainability, expanding trade-in programs, and the growing availability of certified refurbished devices through online and offline channels.

Middle East and Africa Smartphones Market Overview

The Middle East and Africa Smartphones Market is projected to reach USD 33.95 billion in 2026 and expand to USD 50.14 billion by 2031, growing at a CAGR of 8.12%. Growth is supported by increasing smartphone penetration, expanding 4G and 5G networks, rising digital adoption, a young population base, and strong demand for feature-rich yet affordable devices across emerging economies in the region.

Xiaomi Corporation, Samsung Electronics Co., Ltd., Huawei Technologies Co., Ltd., Infinix Mobility Limited, and Oppo Guangdong Mobile Communications Co., Ltd. are the major companies operating in this market.

Read more about companies active in the Middle East and Africa Smartphones Market:

Foldable Smartphone Market Outlook

The Foldable Smartphone Market is expected to reach USD 38.68 billion in 2026 and grow to USD 110.19 billion by 2031, registering a CAGR of 23.29% during the forecast period. The market is benefiting from advancements in flexible display technologies, increasing premium smartphone demand, improved device durability, and ongoing innovation from leading manufacturers seeking product differentiation.

Samsung Electronics Co. Ltd., Huawei Technologies Co. Ltd., Motorola Mobility LLC (Lenovo Group Limited), Xiaomi Corp., and Oppo Co. Ltd. are the major companies operating in this market.

Read more about companies active in the Foldable Smartphone Market:

About Mordor Intelligence

Mordor Intelligence is a trusted partner for businesses seeking comprehensive and actionable market intelligence. Our global reach, expert team, and tailored solutions empower organizations and individuals to make informed decisions, navigate complex markets, and achieve their strategic goals. With a team of over 550 domain experts and on-ground specialists spanning 150+ countries, Mordor Intelligence possesses a unique understanding of the global business landscape. This expertise translates into comprehensive syndicated and custom research reports covering a wide spectrum of industries, including aerospace & defense, agriculture, animal nutrition and wellness, automation, automotive, chemicals & materials, consumer goods & services, electronics, energy & power, financial services, food & beverages, healthcare, hospitality & tourism, information & communications technology, investment opportunities, and logistics.

CONTACT: For any inquiries, please contact:...

MENAFN01062026004107003653ID1111191604