Global smartphone shipments are projected to increase by 6.2% year-over-year in 2024 which could reach a total of 1.24 billion units as the latest International Data Corporations (IDC) Worldwide Quarterly Mobile Phone Tracker reported. This notable growth comes after two years of declines and is driven by an increase in demand for device upgrades.
Although 2024 is expected to witness a strong recovery growth rates are supposed to slow down to a low single digits from 2025 onwards, with a compound annual growth rate (CAGR) of 2.6% from 2023 to 2028. There are factors that contribute to this trend including rising smartphone penetration, extended refresh cycles and challenges that are posed by the fastly expanding user smartphone market.
Nabila Popal, senior research director at IDC’s Worldwide Quarterly Mobile Phone Tracker stated, “While Generative AI remains a prominent topic and a key focus for numerous vendors, its impact on demand and early upgrades has yet to be substantial.” She further added that they maintain their belief that generative AI has the ability to transform the user experience in the upcoming years however, some additional investments are required to make consumers more aware.
The rapid growth of Android projected at 7.6% is specifically concentrated in the Latin America, Asia-Pacific, China regions, Middle East and Africa and mainly within the low-end device segment. It is important to achieve an overall growth of 6.2% growth this year.
Despite the records in performance in emerging markets such as India, Apple encounters some major issues in larger markets such as the United States, Europe and China. Looking ahead to 2025, the situation is expected to transform with iOS supposed to grow by 3.1% which may be able to surpass the anticipated growth of Android of 1.7% during the same time period.
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