The latest IDC report indicated the growth in the smartphone market in 2024 and the growth drivers that will create more demand among device buyers.
Nabila Popal, senior research director with IDC’s Worldwide Quarterly Mobile Phone Tracker, said smartphone shipments are forecast to grow 6.2 percent in 2024 to 1.24 billion units.
IDC Worldwide Quarterly Mobile Phone Tracker said growth is expected to slow to low single digits from 2025 onward, with a 2.6 percent CAGR (2023-2028).
Growth drivers in the global smartphone market include smartphone penetration, lengthening refresh cycles, and headwinds from rapidly growing used smartphone market.
The latest Ericsson Mobility Report – November 2024 says smartphone subscriptions will reach 8,330 million in 2030 from 7,160 million in 2024 and 6,930 million in 2023.
5G mobile subscriptions will reach 6,350 million in 2030 from 2,270 million in 2024 and 1,603 million in 2023.
“While GenAI continues to be a hot topic and top priority for many phone vendors, it is yet to impact demand significantly and drive early upgrades.” said Nabila Popal, senior research director with IDC’s Worldwide Quarterly Mobile Phone Tracker.
GenAI smartphones will take their place in premium flagship devices and keep moving down in price tiers to grow to 70 percent of the smartphone market by 2028.
Android-based smartphone market will achieve growth of 7.6 percent focused in APeJC, Latin America, Middle East and Africa and China, primarily in low end devices.
Apple iOS is expected to grow 0.4 percent in 2024.
Apple will have a record breaking performance in emerging markets like India. Apple faces challenges in large markets like China, US and Europe.
In 2025, Apple iOS is expected to grow by 3.1 percent.
Google Android-based smartphones will grow 1.7 percent in 2025.
In Q3 2024, foldables declined by 7.4 percent. In 2024, foldables will grow 10.5 percent and maintain a double digit growth through 2028 with a five-year CAGR of 15.9 percent, IDC said.
Baburajan Kizhakedath
