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Smartphone Market Insights By Growth, Research Methodology, Emerging Trends and Forecast 2021-2030

Quadintel published the latest research report on the Smartphone market. In order to comprehend a market holistically, a variety of factors must be evaluated, including demographics, business cycles, and microeconomic requirements that pertain precisely to the market under study. In addition, the Smartphone market study demonstrates a detailed examination of the business state, which represents creative ways for company growth, financial factors such as production value, key regions, and growth rate.

A smartphone is a cellular phone that includes an integrated laptop as well as features not previously associated with telephones, such as an operating system, internet browsing, and the capacity to perform software applications. It also allow users to perform complex tasks such as editing documents, using social media, handling emails, and creating spreadsheets.

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Market insights:

The market is driven by increased purchasing power, rise in the adoption of internet and data services, and introduction of smartphones with updated features at affordable prices. The launch of 5G smartphones is expected to bring exponential growth to the market in the coming years.
The market is expected to expand at a CAGR of ~14.46% during the 2021 2026 period to reach a shipment volume of 304.75 million units in 2026. Android smartphones account for ~95.50% of the total volume of shipment, followed by iOS smartphones at ~2.86%. In 2020, Xiaomi led the business with a 27.25% shipment share, followed by Samsung (21.50%).

Impact of COVID-19:

In the wake of the pandemic, the government imposed lockdown measures that reduced outdoor activities, resulting in a decline in the sale of smartphones at offline stores. The demand for smartphones surged, primarily because of remote learning, as well as virtual social gathering. Several people lost their jobs, while some took pay cuts. As a result, they refrained from purchasing devices with upgraded features.

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Government initiatives:

Several initiatives undertaken by the government have influenced the smartphone market. The Production Linked Incentive (PLI) scheme provided all electronics manufacturing companies with registered manufacturing units with a 4% to 6% incentive on incremental sales. The Modified Electronics Manufacturing Clusters scheme offered financial incentives to mobile phone manufacturers to develop world-class infrastructure and common facilities and amenities.

Key growth drivers of the market:

The pricing pattern followed by the manufacturing companies, along with exclusive online distribution led to the spurt in demand for smartphones
Consumers’ preference shifted from standard feature phones to smartphones because of increased internet penetration to the internet

Key deterrents to the growth of the market:

The high usage of smartphones has led to a rise in the number of cybercrimes occurring in the country
The design and technology used by smartphone manufacturing companies have not met consumer expectations

Competition analysis:

Smartphone users are inclined toward using Android over iOS or other operating systems. The key players include Xiaomi Technology India Private Limited, Samsung India Electronics Pvt. Ltd., and OPPO Mobiles India Pvt. Ltd.

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Table of Contents:

  • Market Overview
  • Market Definition and Scope
  • Market Dynamics
  • Market Industry Analysis
  • Market, Regional Analysis
  • Analysis of Leading Companies
  • Competitive Intelligence
  • Research Process
  • Market Analysis and Forecast, By Product Types

What aspects regarding the regional analysis Market are included in this report?

  • Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East and Africa region. 
  • The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption. 
  • The growth rate of the market in every region, including their countries over the forecast period is included in the market report. 
  • Based on what factors are the key market players assessed in this report? 
  • The report offers detailed analysis of leading companies in the market across the globe. 
  • It provides details of the major vendors involved in the Market including Key Players 
  • A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and 
  • the manufactured products is incorporated in the report. 
  • The facts and figures about market competitors along with standpoints of leading market players are presented in the report. 
  • The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report. 

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