Market Outlook – Handset Shipment Forecast by OEM Region, February 2024


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



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