Market Study on Smartphones: Emergence of 5G to Drive Market Growth Substantially

Smartphones Market Segmented By Mobile Vendor, Android, iOS, Windows, Blackberry Operating System

NEW YORK CITY, NEW YORK , INDIA, February 21, 2023 /EINPresswire.com/ -- According to Persistence Market Research's estimate of the Smartphone Market, the market was valued at US$ 507.5 Billion in 2021 and is expected to grow at a respectable CAGR of 6.8% from 2021 to 2031. Internet usage growth is being driven by increasing smartphone adoption as well as an e-commerce business that is expanding fast. 𝐒𝐚𝐥𝐞𝐬 𝐨𝐟 𝐬𝐦𝐚𝐫𝐭𝐩𝐡𝐨𝐧𝐞𝐬 𝐚𝐫𝐞 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐞𝐝 𝐭𝐨 𝐢𝐧𝐜𝐫𝐞𝐚𝐬𝐞 𝐚𝐭 𝟔.𝟖% 𝐂𝐀𝐆𝐑 𝐚𝐧𝐝 𝐛𝐞 𝐯𝐚𝐥𝐮𝐞𝐝 𝐚𝐭 𝐚𝐫𝐨𝐮𝐧𝐝 𝐔𝐒$ 𝟗𝟖𝟐.𝟖 𝐁𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 𝟐𝟎𝟑𝟏.

One of the key drivers propelling the global smartphone industry is the rising demand for cutting-edge technology like AI and machine learning. The requirement for real-time voice processing and image recognition is driving the integration of AI capabilities into smartphones. The majority of AI processors also include neural processing units that can process information in parallel, consume little power, and perform cognitive functions. In the future, all flagship smartphones are projected to feature on-device AI, which uses specialised AI chipsets.

• In August 2020, Xiaomi presented its main plan for the upcoming ten years, dubbed "Smartphone AIoT." According to this plan, the company has decided that smartphones will be the foundation of its business, and that the AIoT platform would create an ecosystem for smart homes centred around smartphones, further enhancing Xiaomi's value.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐭𝐡𝐞 𝐬𝐚𝐦𝐩𝐥𝐞 𝐜𝐨𝐩𝐲 𝐨𝐟 𝐫𝐞𝐩𝐨𝐫𝐭 @ https://www.persistencemarketresearch.com/samples/11827

𝐊𝐞𝐲 𝐓𝐚𝐤𝐞𝐚𝐰𝐚𝐲𝐬 𝐟𝐫𝐨𝐦 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐭𝐮𝐝𝐲

• By operating system, the Android segment is anticipated to account for a leading market share and is estimated to expand at a robust CAGR of 6.2% through 2031.
• North America is expected to lead the market followed by Asia Pacific. Asia Pacific is anticipated to emerge as the fastest-growing region from 2021 to 2031.
• Mid-range ($200-$500) smartphones will be a dominating segment and is anticipated to expand at a CAGR of nearly around 7.5% from 2021 to 2031.
• The market in India is expected to progress at a CAGR of almost 9.5% over the forecast period.
• In the United Arab Emirates, sales are expected to increase at a CAGR of close to 6.6% over the next ten years.
“Increasing Internet penetration, rising consumer disposable income, growing popularity of 5G, and rising demand for foldable smartphones are collectively driving market growth across the world,” says a Persistence Market Research analyst.

𝐈𝐧𝐭𝐞𝐠𝐫𝐚𝐭𝐢𝐨𝐧 𝐨𝐟 𝐀𝐈 𝐭𝐨 𝐒𝐩𝐮𝐫 𝐃𝐞𝐦𝐚𝐧𝐝 𝐟𝐨𝐫 𝐒𝐦𝐚𝐫𝐭𝐩𝐡𝐨𝐧𝐞𝐬

Lightning-fast 5G-capable phones are anticipated to be highly sought after as adoption rates rise and users desire to replace their 4G phones. One of the key elements boosting the global smartphone industry growth is the shift in consumer tastes and rising popularity of m-Commerce. Customers are gravitating more and more towards online purchasing as they become more dependent on digital devices.

Also fueling industry expansion is a rise in demand for mobile gaming. Those with higher connectivity can expect better gaming experiences thanks to 5G connectivity. Gamers think that 5G connectivity will make it possible to have high-quality visuals.

𝐅𝐨𝐫 𝐈𝐧-𝐃𝐞𝐩𝐭𝐡 𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬, 𝐁𝐮𝐲 𝐍𝐨𝐰 @ https://www.persistencemarketresearch.com/checkout/11827

Additionally, it is anticipated that the implementation of 5G will lead to new smartphone use cases, making the decision to upgrade to 5G devices a crucial one for end consumers. Moreover, manufacturers are anticipated to release reasonably priced 5G phones, facilitating the quick and simple adoption of 5G technology.

𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 :

• Apple
• Samsung
• Google
• Sony
• Huawei
• Motorola
• Nokia
• Xiaomi
• Vivo
• Oppo
• LG
• HTC
• OnePlus
• Asus
• Microsoft

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐅𝐨𝐫 𝐑𝐞𝐩𝐨𝐫𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 @ https://www.persistencemarketresearch.com/request-customization/11827

𝐒𝐦𝐚𝐫𝐭𝐩𝐡𝐨𝐧𝐞𝐬 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐒𝐮𝐫𝐯𝐞𝐲 𝐛𝐲 𝐂𝐚𝐭𝐞𝐠𝐨𝐫𝐲

𝐛𝐲 𝐎𝐩𝐞𝐫𝐚𝐭𝐢𝐧𝐠 𝐒𝐲𝐬𝐭𝐞𝐦:

• Android Smartphones
• iOS Smartphones
• Others

𝐛𝐲 𝐏𝐫𝐢𝐜𝐞 𝐑𝐚𝐧𝐠𝐞:

• Low-range Smartphones (Below $200)
• Mid-range Smartphones ($200-$500)
• Premium Smartphones (Above $500)

𝐛𝐲 𝐒𝐚𝐥𝐞𝐬 𝐂𝐡𝐚𝐧𝐧𝐞𝐥:

• Online/e-Commerce
• Physical Retail Stores (Offline)

𝐛𝐲 𝐑𝐞𝐠𝐢𝐨𝐧
:
• North America Smartphones Market
• Latin America Smartphones Market
• Europe Smartphones Market
• Asia Pacific Smartphones Market
• Middle East Smartphones Market

𝐓𝐨𝐩 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭

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𝐀𝐛𝐨𝐮𝐭 𝐮𝐬:

Persistence Market Research is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. Persistence Market Research boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients’ business needs.

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