Global Smartphone Market to Grow at a CAGR of 8.1% during 2015
A smartphone is a mobile device with more advanced functionalities and features compared to cellphones. A smartphone’s hardware and software specifications are meant to perform functions such as web browsing, capturing high-quality images, and playing HD videos. A smartphone can install various applications that can perform several advanced functions. Smartphones have become popular because of their many capabilities and are often used for communication and online activities. Advances in technology have led to smartphones being more compact and cheaper than other mobile devices such as tablets, phablets and PDAs.
Over the past few years, smartphones have become a product of the masses rather than the product of the elite class because their increasing affordability, which has contributed to the steady growth of the global market.
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“The APAC region has emerged as a driving force behind the increase in smartphone sales, as the price of smartphones in the region have declined significantly, and are expected to fall even further by 2019,”.
Covered in this Report
This report covers the present scenario and the growth prospects of the Global Smartphone market for the period 2015-2019. The report considers shipment of smartphones of trailing 3 quarters and estimates the shipment for fourth quarter for the year 2014. To calculate the market size, the report considers the revenue generated from the total unit shipment of smartphones. It also includes the shipments of phablets to arrive at the total market size for the base year 2014. However, the report does not consider the following to estimate the market size:
Aftermarket sales of smartphones
Sales of accessories and peripherals for smartphones
Sales of mobile handsets that are classified as feature phones and tablets
According to the latest report, smartphones have also undergone radical changes in aesthetics as well as functions, in recent years. The market is witnessing a trend towards larger screen sizes, with many top smartphones sporting screens ranging from five to seven inches.
“Due to the consumption of a large amount of content online, consumers are demanding bigger and better displays, which is expected to fuel the Global Smartphone Market in the coming years,”