According to the research report titled ‘Global Smartphones Market Size study, by Operating System (Android, iOS, Windows, Others), by Distribution Channel (OEM, Retailer, E-Commerce), by Price Range (Premium segment, Mid-Range Phones, Budged Phones) and Regional Forecasts 2020-2027’, available with Market Study Report, global smartphones market was remunerated at USD 715 billion in 2019 and is projected to amass USD 1672 billion by the year 2027, registering 11.2% CAGR over the next seven years.
 

Evolving lifestyle, rising disposable income, along with increasing popularity of internet and social media platforms are the key factors stimulating global smartphones market growth. In addition, mounting demand for technologically advanced smartphones is also swaying the business dynamics.
 

According to Statista, worldwide smartphone shipments were recorded to be about 1.6 billion units in 2017, indicating an increase of 7.17% from 2014 (1.3 billion-unit smartphone shipments). In China, there were 690 million smartphone users in 2015, up from 480 million in 2014, cited the same source.
 

Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/3029650/
 

As per the International Data Corporation (IDC), smartphone vendors worldwide shipped a total of 369.8 million units in the fourth quarter of 2019.
 

For those unfamiliar, a smartphone is a mobile device that combines computing and cellular capabilities into a single device. Notably, smartphones are coming out to be a viable alternative to PDAs (personal digital assistants) and laptops, offering phone features such as SMS and voice, as well as multimedia functionality, mobile internet apps, high-speed data processing capabilities, and in-built GPS proficiencies.
 

Improved hardware, and faster wireless connectivity (thanks to standards like LTE) are further augmenting worldwide smartphones industry share.
 

On the downside, data security & privacy issues, along with health concerns owing to overuse of smartphones are anticipated to negatively impact the industry expansion over the forecast timespan.
 

Considering the regional scope, Asia Pacific currently holds significant portion of global smartphones market share and is poised to gain momentum over the coming years, attributable to growing smartphone production, widespread popularity of internet, along with increasing number of smartphone manufacturers. Moreover, presence of large customer-base in developing economies like India and China, as well as advent of 5G infrastructure network are contributing to the overall regional market outlook.
 

Established players in global smartphones market sphere are HTC Corporation, Micromax Informatics Ltd., Sony Corporation, AsusTek Computer Inc., Nokia Corporation, Xiaomi Corporation, Vivo Communication Technology Co. Ltd., Apple Inc., Huawei Technologies Co. Ltd., and Samsung Electronics Co. Ltd.