The global smartphone market size was valued at USD 570.32 billion in 2024 and is estimated to reach USD 1,032.74 billion by 2033, growing at a CAGR of 6.82% during the forecast period (2025–2033). The growth of the global smartphone market has been significantly demonstrated in recent years. This expansion is driven by technological advancements, increasing internet penetration, and rising consumer demand for advanced mobile devices.
A smartphone is a portable electronic device that integrates the capabilities of a computer and a mobile phone. It features a touchscreen interface, internet connectivity, and advanced operating systems like iOS or Android. It also helps users to make calls, send messages, browse the web, and access various apps for social media, entertainment, productivity, and more.
Equipped with high-resolution cameras, GPS, and sensors, they support photography, navigation, and fitness tracking. Modern smartphones often include features like facial recognition, artificial intelligence, and fast charging capabilities. Compact yet powerful, these phones have become indispensable tools for communication, work, and entertainment in everyday life.
The incorporation of AI and machine learning technologies into smartphones has significantly enhanced user experience, driving smartphone market growth. Features such as AI-powered cameras, virtual assistants, and personalized user interfaces have become standard, attracting consumers seeking innovative functionalities.
Additionally, the development of generative AI (GenAI) capabilities is expected to further stimulate demand as manufacturers integrate these advanced features into their devices. For instance, companies like Apple and Google are introducing AI enhancements in their latest smartphone models to provide more intuitive and efficient user experiences. smartphone market trend is anticipated to continue, with AI-enabled smartphones projected to capture a significant portion of the market in the coming years.
In contrast to the growth observed in emerging markets, developed regions like North America and Europe are experiencing market saturation. High smartphone penetration rates have led to a slowdown in new device sales, as consumers are holding onto their existing devices longer due to the lack of groundbreaking innovations in recent models. This trend poses a challenge for manufacturers relying on these markets for revenue.
For instance, in the first quarter of 2024, global smartphone shipments rose by 7.8% to 289.4 million units; however, Apple's smartphone shipments dropped by 10%, indicating challenges even for leading brands in saturated markets. To counter this, companies are investing in research and development to introduce compelling features and are exploring new markets to sustain growth.
The global rollout of 5G networks presents a significant opportunity for the global smartphone market. 5G technology offers faster data speeds, lower latency, and enhanced connectivity, which are expected to drive the demand for 5G-enabled smartphones. Consumers are increasingly seeking devices that can leverage the benefits of 5G networks, prompting manufacturers to develop and market 5G-compatible smartphones.
In 2019, Samsung dominated the early market for 5G smartphones, accounting for 74% of the market share in South Korea. As network infrastructure continues to expand globally, the adoption of 5G smartphones is anticipated to rise, offering manufacturers the opportunity to capture new customer segments and drive revenue growth. Furthermore, the enhanced capabilities of 5G are expected to spur the development of new applications and services, creating additional value propositions for consumers and stimulating further demand in the global market.
| ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2021-2033 |
| Historical Year | 2021-2024 |
| Forecast Period | 2025-2033 |
| By Operating System |
|
| By Price Range |
|
| By Distribution Channel |
|
| Regional Insights |
|
The iOS segment, powered by Apple Inc., holds a prominent position in the global market, offering a seamless ecosystem of devices and services. Known for its high-security standards, user-friendly interface, and exclusive features like FaceTime and iMessage, iOS attracts a loyal consumer base. The segment is driven by the popularity of premium devices like the iPhone 14 and the iPhone Pro series. Apple's consistent software updates and emphasis on privacy further bolster consumer trust.
The premium segment caters to affluent consumers seeking advanced features, superior build quality, and cutting-edge technology. It includes flagship models from brands like Apple, Samsung, and Google, priced above USD 800. This segment is fueled by demand for 5G capabilities, enhanced cameras, and AI-driven features. In 2024, Apple dominated the segment with a 72% market share, highlighting the strong preference for high-end iPhones. The rising consumer aspirations and financing options have also contributed to growth, particularly in North America, Europe, and China, where premium devices are highly sought after.
The online segment has emerged as a dominant distribution channel in the global market, driven by convenience, competitive pricing, and exclusive online deals. E-commerce platforms like Amazon, Flipkart, and JD.com offer a diverse range of products with detailed comparisons, fostering consumer confidence. In 2024, approximately 55% of smartphone sales in emerging markets were conducted online. This trend is bolstered by flash sales, no-cost EMI options, and doorstep delivery, which resonate with tech-savvy consumers. Brands like Xiaomi and OnePlus leverage online channels extensively to capture market share and engage with younger demographics.
The Asia-Pacific region dominates the global smartphone market Trend, accounting for a substantial revenue share, driven by its large population base, increasing disposable incomes, and rapid urbanization. China and India are emerging as pivotal markets in this region. China, the world's largest smartphone market, contributed USD 105.5 billion in 2024, underscoring its dominance.
India, with a rapidly growing middle class and improving digital infrastructure, is experiencing a surge in smartphone adoption. In Q2 2024, India's smartphone shipments grew by 8%, led by brands like Xiaomi, Samsung, and Realme. Also, the proliferation of budget smartphones priced below USD 200 has made these devices more accessible to the masses, further driving demand.
Additionally, the rollout of 5G networks in countries like China, South Korea, and India has accelerated the adoption of 5G-enabled smartphones. For instance, South Korea recorded a 17% increase in 5G smartphone shipments in 2024. Furthermore, the key players in the region are involved in innovating and launching novel and advanced devices, thereby contributing to the regional market growth.
For instance, in December 2024, China's Xiaomi sub-brand Poco launched the M7 Pro 5G smartphone in India alongside the budget-friendly C75 5G smartphone. Moreover, with over 60% of the global population residing in the Asia-Pacific, the region is expected to remain a growth hotspot, attracting significant investments from global manufacturers.
Well structured, the insights they shared with us were very helpful and reliable. Their timely assistance make their services invaluable to us. I would highly recommend them and would definitely use them again in the future if needed.
VP of a Automotive division in Germany
The report sent to us was on the point, and its information was quite extensive, well structured, and well researched. More importantly what we valued was your response time and professionalism. As a leading global consulting firm, our clients expect high quality deliverables in short periods of time, so a reliable research partner is essential. For the price that you have charged the quality of your services were exceptional. We look forward to continue our relationship with your team on future engagements
Product Manager at US based Manufacturer
Coherent, high-quality, thoroughly-researched reports. We received a very quick response to all our queries which eventually expedited the entire process
Marketing Manager at a pharma company in Belgium
