Smartphones - Worldwide

  • Worldwide
  • In 2024, the revenue in the Smartphones market worldwide is projected to reach a staggering €0.4tn.
  • According to estimates, this market segment is expected to experience an annual growth rate of 4.27% (CAGR 2024-2029).
  • When comparing global revenue figures, it is noteworthy that in China leads the way, generating €97.8bn in revenue in 2024.
  • This demonstrates in China's significant presence in the Smartphones market.
  • Taking into account the total population, the per person revenue in the Smartphones market is expected to be approximately €55.95 in 2024.
  • This metric provides an interesting perspective on the individual economic impact of this market segment.
  • Looking ahead to 2029, the volume of the Smartphones market is projected to reach 1.7bn pieces units.
  • This suggests a steady growth trajectory for the market.
  • Moreover, in 2025, the market is predicted to experience a volume growth of 0.8%.
  • In terms of individual consumption, the average volume per person in the Smartphones market is estimated to be 0.2pieces units in 2024.
  • This metric highlights the level of adoption and usage of smartphones on a per capita basis.
  • Despite being the world's largest smartphone market, China is experiencing a slowdown in smartphone sales due to market saturation and increased competition.

Key regions: Brazil, Europe, China, United States, India

 
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Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on consumer spending on electronic and digital devices used privately either for entertainment (televisions, game consoles, smart speakers, etc.), communication (telephones, smartphones, etc.) or home-office activities (printers, copiers, etc.).

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., the Statista Global Consumer Survey), as well as performance factors (e.g., user penetration, price per product, usage). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, number of internet users, smartphone penetration rate, household number and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting electronic products due to the non-linear growth of technology adoption and regular product upgrade. The main drivers are GDP per capita, consumer spending per capita, and 5G penetration rate.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). GCS data is reweighted for representativeness.

Visión general

  • Revenue
  • Volume
  • Price
  • 5G Share
  • Key Players
  • Global Comparison
  • Methodology
  • Key Market Indicators
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