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
The research report titled “Smartphones: A Global Strategic Business Report”, announced by Global Industry Analysts, Inc., provides a comprehensive review of industry segments, trends, growth drivers, restraints, market share, market size, product launches, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections in units for all major geographic markets including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India, South Korea, and Rest of Asia-Pacific), Middle East & Africa (Saudi Arabia, South Africa, and Rest of Middle East & Africa), and Latin America (Brazil, Mexico, and Rest of Latin America). Operating systems analyzed in the report include Symbian, Android, iOS, BlackBerry, Windows, and Others.
For more details about this comprehensive market research report, please click here