Overview:
The annual smartphone market shrank 4.4% YoY in 2023 as the macroeconomics headwinds and consumer weakness continued to pressure the industry thought the year. We expect the market grow by around 3.4% annually in 2024. The reasons for upward revision of the forecast are as follows;
- Inventory levels had reached more or less normal levels by the end of 2023 clearing the way for orderly market functioning in 2024.
- The global macroeconomic projection is adjusted higher due to the greater-than-expected resilience in H2 2023 in many economies, such as Stronger-than-expected US growth and partly growth in the euro zone, the growth in emerging and developing Asia, and strong demand in Brazil, Mexico, and India.
- The introduction of Gen AI based devices is likely to catalyse additional growth.
This report provides the global mobile handset/smartphone market forecast by region and brand for 2023-2027.
Table of Contents:
- Assumptions
- Pivot
- Tech Pivot
- Track Changes – Smartphone
- Global
- North America
- Caribbean & Latin America
- Middle East & Africa
- Europe (Western Europe / Central & Eastern Europe)
- Asia Pacific (China/India/Japan/Korea/AP Others)
- Flatfile
- Definitions
Published Date: Feb 2024