How big is the Smartphones Market?

The Smartphones Market size is expected to reach USD 1.51 billion in 2024 and grow at a CAGR of 4.10% to reach USD 1.85 billion by 2029. Read More

What is the current Smartphones Market size?

In 2024, the Smartphones Market size is expected to reach USD 1.51 billion. Read More

Who are the key players in Smartphones Market?

Samsung Electronics, Apple Inc., Huawei Technologies Co., Ltd., Xiaomi Corporation and Vivo Communication Technology Co. Ltd are the major companies operating in the Smartphones Market. Read More

Which is the fastest growing region in Smartphones Market?

Middle East and Africa is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Smartphones Market?

In 2024, the Asia Pacific accounts for the largest market share in Smartphones Market. Read More

What years does this Smartphones Market cover, and what was the market size in 2023?

In 2023, the Smartphones Market size was estimated at USD 1.45 billion. The report covers the Smartphones Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Smartphones Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

What is the future of the Smartphone Market?

Increased consumer awareness regarding responsible mobile device usage, alongside the integration of artificial intelligence and augmented reality technologies, coupled with expanding over-the-top (OTT) platform subscriptions, are anticipated to drive the future expansion of the smartphone market. Read More

What are the key challenges for the Smartphone Industry?

Key challenges for the Smartphone Industry: a) Chip shortages b) Rising component costs, and c) Intense competition in the mid-range segment Read More

Smartphones Market Share

Statistics for the 2023 & 2024 Smartphones market share, created by Mordor Intelligence™ Industry Reports. Smartphones share report includes a market forecast to 2029 and historical overview. Get a sample of this industry share analysis as a free report PDF download.

Market Share of Smartphones Industry

The smartphone market is highly consolidated, dominated by established players such as Samsung, Huawei, Apple, and Xiaomi. Most players launch new models with small technology changes such as battery power, camera configuration, and processor. Some of the recent developments are:

• January 2024: Apple Inc. announced the opening of a brand-new office in Bengaluru, India. Apple is a major beneficiary of the central government's Production Linked Incentive Scheme. The company reportedly churned out iPhones worth INR 1 lakh crore in 2023, the highest for any smartphone maker in India. Apple’s supply partner, Foxconn, recently got approval to invest USD 1 billion in its newest iPhone factory, which is coming up at Doddaballapura, near Bengaluru's Kempegowda International Airport.

• February 2023: Qualcomm Technologies Inc. and Samsung Electronics partnered to bring the fastest Snapdragon to the Galaxy S23 series globally. Qualcomm Technologies, Inc. announced that the latest flagship Galaxy S23 series is powered by a premium Snapdragon 8 Gen 2 Mobile Platform for Galaxy worldwide. The new Snapdragon 8 Gen 2 design accelerates performance by making it the fastest processor in its class and defining a new standard for connected computers. Both companies are committed to delivering the highest quality consumer experiences on flagship Galaxy devices, so they have launched the S23 series.