Latest Research Report on “Smartphone Market” Added by Analytical Research Cognizance which covers Market Overview, Future Economic Impact, Competition by Manufacturers, Supply (Production), & Consumption Analysis
By 2020, smartphone shipment in India is expected to reach a value of 210.5 million units growing at a CAGR of ~17.5% from 2016.
With the increased economic growth, the corporate segments of various verticals are expanding their operations further and also creating newer business opportunities for several entrepreneurs in the country.
On the other hand, domestic handset companies are targeting to capture larger market share in the country with budget smartphones.
Celebrity endorsements, along with huge sponsorship campaigns by brands such as Oppo and Gionee have helped improve the perception of Chinese brands among Indian consumers which is aiding the growth of these brands in the Indian market.
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Market Research Future (MRFR) reports that Smartphone market estimated to accelerate the expansion and forecasted to note exponential growth in the forecast period 2020-2023.
The market has encountered significant development over the recent years and is predictable to grow enormously.
The Global Smartphone Market is expected to grow from USD 520.3 billion in 2018 to USD 2297.8 Billion by 2025, at a CAGR of 16.4%, during the forecast period.
Key Players The prominent players in the smartphone market are Samsung Electronics Co. Ltd (South Korea), Apple Inc. (US), Google LLC (US), Xiaomi Corporation (China), Lenovo Group Limited (China), OnePlus Technology Co., Ltd (China), Microsoft Corporation (US),Nokia Corporation (Finland), Huawei Technologies Co. Ltd (China), Guangdong OPPO Mobile Telecommunications Corp., Ltd (China), Vivo Communication Technology Co. Ltd (China), HTC Corporation (Taiwan), Sony Corporation (Japan), ZTE Corporation (China), LG Electronics Inc. (South Korea), and Panasonic Corporation (Japan) among others.
Regional Analysis The global smartphone market has been segmented, by region, into North America, Europe, Asia-Pacific, and the rest of the world.
North America is expected to grow at highest CAGR during the forecast period due to the early adoption of emerging technologies, the presence of global players, and suitable infrastructure support.