The Global Market for Smartphones is Projected to Reach 2.15 Billion Units by 2020
Evolving Technologies
and Novel Design Approaches Drive the Global Smartphones Market, According to a
New Report by Global Industry Analysts, Inc.
GIA announces the release of a comprehensive global report on
Smartphones. The global market for Smartphones is
projected to reach 2.15 billion units by 2020, driven by evolving
technologies and design approaches targeted to improve functional expertise and
operational efficiency of the device.
Smartphones
have transformed mobile handsets used for making and receiving phone calls or
sending and receiving SMS and MMS into state-of-the-art gadgets, capable of
running multimedia, computing, GPS navigation, and web-based applications,
besides providing the traditional communication services. The sheer
attractiveness of the product, in terms of interface, display, battery life,
form factor, processor and the ability to run mobile Internet and numerous
applications is primarily responsible for the strong evolution of the market
over the past few years.
Future growth in the market will be driven by falling prices of smartphones, cheaper mobile
voice/data services, attractive price bargains for consumers due to increasing
competition, proliferation of mobile network technologies such as 3G, 4G (LTE,
WiMAX) and superior provision of mobile services by MNOs (mobile network
operators). The growth in the market is also benefiting from the popularity of Mobile
Apps. Innovative user-friendly apps enhance the functionality of the smartphone
in terms of entertainment, communication and connectivity features thus allowing
users to exploit the full potential of the device. With smartphones becoming
multi-functional and multimedia devices, the value offered by an app ecosystem
ranks as the primary purchase criterion for the device.
Technological
advancements poised to benefit market prospects in the near term include transformation
of smartphones as remote control for supporting several interconnected devices,
Google’s modular phone concept, Apple’s fall-resistant technology, replacement
of limited power Li-ion batteries with miniaturized fuel cells, voice and gesture
recognition and control, wireless charging, and wearable accessories, among
others. Use of the innovative material technology like Graphene that can design
and build completely malleable, flexible, ultra-thin, lightweight and
damage-resistant phones is also expected to benefit market expansion in the
coming years.
As stated by
the new market research report on Smartphones, Asia-Pacific represents the
largest as well as the fastest growing regional market worldwide with a CAGR of
7.5% over the analysis period. China and India, the two most populous
countries with large sections of middle-class consumers, continue to represent
major markets for premium as well as low-cost smartphones. Huge latent demand
due to the relatively lower per capita ownership in the region, large mobile subscriber base, thriving
economies, increasing spending power, rising 3G penetrations, and availability
of a wide range of low cost Android based devices, represent key growth drivers
in the region.
Key players covered
in the report include Apple Inc., Blackberry, Fujitsu Limited, Google Inc., HTC
Corporation, Huawei Technologies Co. Ltd., Lenovo, Motorola Mobility, Inc., LG
Electronics, Microsoft Corporation, Mozilla Corporation, Samsung Electronics
Co., Ltd., Sharp Corporation, Sony Mobile Communications Inc., Xiaomi, Yulong
Computer Telecommunication Scientific Co. Ltd. (Coolpad), and ZTE Corporation,
among others
Comments
Post a Comment