5-LEVEL GRANULAR ANALYSIS ON GLOBAL SMARTPHONE MARKET ANALYSIS

Detailed Study on the Smartphone Market with 5-level Granular Insights

The smartphone market recorded a YoY growth of 8.2% in second quarter in 2024. Consumer demand remained resilient in Europe, Latin America, and Caribbean region, based on our 5 level granular insights on global smartphone market.

Globally, around 300 million units of smartphones were sold in Q2FY24, which was a drop 2.5% drop from Q1FY24. Notably, increasing saturation in major markets coupled with rising inflation globally poses a challenge. As a result, consumers are delaying the smartphone upgrade or altogether moving to low-cost alternative for value at cost.

As per our analysis, Samsung claimed the top spot with sales of 51 million units (Q2FY24), mostly from the Galaxy A-series. This clearly shows how user preferences are inclined toward the blend of premium as well as affordability features. Besides this, consumer insights for smartphone market shows buyers prioritizing devices with multi-setup camera, efficient battery performance, and AMOLED displays.

Closer to Samsung, Apple claims the second spot with smartphone sales of 44 million units in second quarter in 2024. As per our 5 level granular insights on global smartphone market, brand loyalty and premium build quality are two key drivers, attracting new and repeat buyers.

Based on our historical data, consumers in the United States, Europe, and some parts of Asia Pacific, and the Middle East generate demand for fresh models of iPhones. Popularity of second-hand iPhones, switching loyalty due to seek affordability, and quest for innovation has led to muted growth of iPhone 16. In addition, 5 level granular insights on global smartphone market suggests that China fiercely competes on the scale of innovation at affordable prices, which offers meagre growth.

Brands like Xiaomi, OPPO, and vivo collectively account for 100 million units sold in Q2FY24. Among this batch, Xiaomi recorded the fastest growth with a YoY of 27% during the same time period. According to 5 level granular insights on global smartphone market, China and India, along with some of the emerging economies, have seen the best performance of the brand.

YoY, Future Outlook, Historical Analysis and 72+ Parameters lead to well-informed Decision-making for Smartphone Market.

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5-level Granular Segmentation Available in the Report:

• By Company
  • By Brands
    • By Models
      • By Country
        • By Age of Demographics
          • Millennial
            • By Distribution Channel
              • Online
                • Company Owned Website
                • Third Party market Place
              • Offline
                • Company Owned Stores
                • Premium Resellers
                • Retail Outlets
          • Generation X
          • Baby Boomers

10% of Customization Available for Free on Segmentation

Prominent Consumer Trends across Top Countries

• United States

The smartphone market in the Unites States is governed with strong consumer inclination towards premium products. As a result, brands like Apple and Samsung enjoys a dominant market share.

Additionally, value for privacy sits at a high spot, which makes premium brands desirable over their affordable counterparts. Access to better network speeds is yet another key factor, which brands can look at to make their devices compatible to 5G and subsequent technologies to enjoy smooth upgrade cycles in the United States.

• Europe

In Europe, the customer base in split between mid-range smartphones and premium devices. Hence, besides Apple and Samsung, Xiaomi and OPPO are at the forefront.

Consumer insights in the European smartphone market suggests preference for look and feel, light-weighted-ness, camera life, and battery life. As per 5 level granular insights on global smartphone market Sustainability advocacy is stronger in Europe as compared to the other parts of the world. Hence, European buyers are found to favour brands opting for sustainable practices in manufacturing, packaging, and distribution of their devices.

• India

India shows a divided consumer base, showing preference for premium devices (to some extent), mid-range devices (in small proportion), and affordable smartphones (significantly). Popularity of smartphones with better camera quality, battery performance, and 5G-enablement are easier to sell in the Indian market.

A large base of content creators and content consumers make it seamless for smartphone brands to penetrate into the Indian market. However, the resale market for smartphone also shows vital signs of growth, which obstructs the true potential of the smartphone market in the country.

• South Korea

The tech-savvy consumers of South Korea gravitate towards high-end and innovative smartphones. This consumer trend in the South Korean smartphone market gives a natural edge to Samsung with its high resolution, advanced camera systems, and 5G models.

Consumer base in the country are early adopters of technology while also seeking for long-lasting designs. Brand loyalty is strongly inculcated in the user base here, which favors Samsung over its competitors.

• China

Based on the consumer trends in the smartphone market in China, sales of gaming-focused devices and innovative designs are rising. eCommerce is the primary distribution channel, which attracts consumers through promo codes and discounts.

Huawei, OPPO, and Xiaomi compete fiercely in the country, leaving very little margin and scope for Apple, Samsung, and other brands.

Get Country-wise Sales Data for Each Brand based on Demographics, Preferred Model of the Company, and Distribution Channel.

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Key Features of the Study:

• This 5 level granular insights on global smartphone market report provides in-depth analysis of the global smartphone market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global smartphone market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include Apple, Google, Honor, Huawei, Microsoft, OnePlus, Oppo, Realme, Samsung, Sony, TCL, Tecno, Transsion, Vivo, and Xiaomi
• Insights from this 5 level granular insights on global smartphone market report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The global smartphone market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global smartphone market.