Global smartphone market projected to grow by 5.8% in 2024
04 September 2024 |
3:01 am
Worldwide smartphone shipments are projected to grow 5.8 per cent year-over-year in 2024 to 1.23 billion units, according to the International Data Corporation (IDC) Worldwide Quarterly Mobile Phone Tracker.
Worldwide smartphone shipments are projected to grow 5.8 per cent year-over-year in 2024 to 1.23 billion units, according to the International Data Corporation (IDC) Worldwide Quarterly Mobile Phone Tracker.
IDC noted that the 12 per cent growth in the first quarter, followed by nine per cent growth last quarter, has brought improved optimism about how 2024 will play out in the second half of the year.
The international body said affordable Android smartphones continue to grow rapidly in emerging markets coming off a difficult two years while premium markets are starting to embrace GenAI smartphones, generating excitement and renewed interest in the industry.
Senior Research Director with IDC’s Worldwide Quarterly Mobile Phone Tracker, Nabila Popal, said: “The improved forecast for 2024 cements the road to recovery for the smartphone market, driven by stronger growth for Android devices in China and emerging markets. The resulting growth for Android this year will be nine times faster at 7.1 per cent than iOS at 0.8 per cent. Apple’s softer growth is a result of increasing competition in China but also a higher comparison base year. However, there is a potential upside to the iOS forecast with a lot depending on how well the demonstrated GenAI use cases play out in the upcoming iPhone 16 launch and how soon Apple can establish local AI partnerships in China.
“IDC expects the iOS trajectory to improve in 2025 with four per cent year-over-year growth thanks to Apple Intelligence, which is already creating a lot of excitement and is expected to gain momentum next year and encourage faster upgrades.”
On his part, Research Director with IDC’s Worldwide Quarterly Mobile Phone Tracker, Anthony Scarsella, noted that though GenAI smartphones are relatively new in the market, premium flagships will continue to adopt GenAI features to help separate them from the pack.
“IDC expects a robust 344 per cent growth for GenAI smartphones capturing 18 per cent share of the total market by end of 2024, as most flagships will adopt some on-device GenAI features. However, GenAI-capable devices won’t come cheap initially, as the average selling price for these GenAI smartphones will be more than double the cost of non-GenAI capable devices, further driving the premiumization trend.”
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