IDC’s data shows a clear truth: the smartphone market is resilient, adapting, and thriving despite the odds.
We’re talking about significant growth predictions which is a back bounce back since the post-pandemic era. Two back-to-back years saw the market fluctuating. So many low-end phones from Android continue to reign supreme while those from Apple couldn’t quite keep up with the market trend.
As per the estimates published by the IDC recently, smartphone makers could ship up to 1.24B devices this year which is a 6.2% rise from last year. The main driver for such growth is the demand for phone upgrades.
The IDC says growth will hopefully slow down with time from next year onwards. Meanwhile, the CAGR sits at 2.6% between the 2023 to 2028 period. A lot of the factors leading to this trend are longer refresh cycles, more demand for used phones, and also greater penetration. A lot of the sales are linked to phones from Android that are on the lower end of the price range but offer great functionalities.
The growth for iPhones this year is quite low as figures hit just 0.4%. While the demand for Apple products in India continues to rise steadily, it’s still facing a hurdle in nations like America, Europe, and China. Moreover, the IDC says it hopes a YoY growth of 3.1% for Apple products by next year.
Despite the main focus of the tech industry on AI, the IDC feels it’s yet to make a grand impact on smartphone demands. Organizations need to raise better awareness on this front about how GenAI can give rise to useful endeavors in mobile phones that make users’ lives easier. This will drive more sales for AI devices in the industry.
For now, GenAI devices will replace the premium flagship phones and ensure they move down in terms of pricing to grow rapidly to 70% of the smartphone industry by the year 2028.
Read next: New Webcam Hack Lets Hackers Activate Cameras Without LED Indicators, Experts Warn
We’re talking about significant growth predictions which is a back bounce back since the post-pandemic era. Two back-to-back years saw the market fluctuating. So many low-end phones from Android continue to reign supreme while those from Apple couldn’t quite keep up with the market trend.
As per the estimates published by the IDC recently, smartphone makers could ship up to 1.24B devices this year which is a 6.2% rise from last year. The main driver for such growth is the demand for phone upgrades.
The IDC says growth will hopefully slow down with time from next year onwards. Meanwhile, the CAGR sits at 2.6% between the 2023 to 2028 period. A lot of the factors leading to this trend are longer refresh cycles, more demand for used phones, and also greater penetration. A lot of the sales are linked to phones from Android that are on the lower end of the price range but offer great functionalities.
The growth for iPhones this year is quite low as figures hit just 0.4%. While the demand for Apple products in India continues to rise steadily, it’s still facing a hurdle in nations like America, Europe, and China. Moreover, the IDC says it hopes a YoY growth of 3.1% for Apple products by next year.
Despite the main focus of the tech industry on AI, the IDC feels it’s yet to make a grand impact on smartphone demands. Organizations need to raise better awareness on this front about how GenAI can give rise to useful endeavors in mobile phones that make users’ lives easier. This will drive more sales for AI devices in the industry.
For now, GenAI devices will replace the premium flagship phones and ensure they move down in terms of pricing to grow rapidly to 70% of the smartphone industry by the year 2028.
Read next: New Webcam Hack Lets Hackers Activate Cameras Without LED Indicators, Experts Warn
