The above 8GB RAM segment has the highest annual growth rate over the forecast period. Also, this segment is ideal for gaming, multitasking, vlogging, and daily related work. By RAM size, the 4GB-8GB segment has the highest share in the smartphones market as greater RAM provides better performance.However, the iOS segment has the highest CAGR over the projection period as it provides better customer support with its dedicated support app & website, better app selection, and better data privacy & security as compared to other systems. The growth of the Android segment is attributed to an increase in demand and supply of reasonably priced Android mobile phones. Based on the operating system, Androids holds the highest share in the Global Smartphones Market in 2021 and is further estimated to continue its dominance over the forecast period.Key Takeaways from the Global Smartphones Market Report: The competitive dashboard section includes analysis on the basis of the Concentration Ratio (CR), based on market size and market presence of key companies.It includes developers, assembling, marketing and distribution, retailers, and end-users. Detailed value chain analysis of the industry was conducted.Along with market estimations, the market study was conducted on the basis of various economic models such as PESTLE and Porter’s five force models.The market estimates are presented in terms of value (US$ Bn) and volume (Mn Units).The research study is a compilation of 35 chapters distributed across 617 pages with 273 lists of tables and 368 lists of figures.The research report offers a detailed study of market determinants including market drivers, restraints, opportunities, and trends along with an attractive presentation in the form of impact analysis to gain a simpler and easy comparison view of all market determinants.The latest study published by Astute Analytica analyzes the Global Smartphones Market for the study period of 2017-2030 where historical years are 2017-2020, the base year is 2021, and the forecast period is 2022-2030.However, the health risks due to prolonged exposure to smartphones are hindering market growth. Moreover, 5G features in smartphones will further drive the market growth by improving network efficiency, faster communications, and effective data management. Companies such as Apple, Samsung, and Huawei have introduced smartphones with powerful AI chips that are capable of performing up to 5 trillion operations per second and are proven to use significantly lesser power. Furthermore, rapid technological advancements such as AI-enabled smartphones are triggering the market growth of smartphones. Smartphones are the most popular devices that use IoT data connectivity for various functions such as fitness tracking, GPS-based guidance, Wi-Fi (wireless fidelity), and Bluetooth connectivity. Internet of Things (IoT) device allows to receive and transmit data via the internet using sensors, software, and other technologies. The growing impetus of the smartphones market is attributed to factors such as the increasing penetration of IoT and rapid technological advancement. ![]() The rise in popularity of touchscreen smartphones and mobile apps distributed via app stores along with rapidly advancing network, mobile processor, and storage technologies led to a convergence where separate mobile phones, organizers, and portable media players were replaced by a smartphone as the single device most people carried. ![]() Smartphones are distinguished from feature phones due to their stronger hardware capabilities and extensive mobile operating systems, which facilitate wider software, internet (including web browsing over mobile broadband), and multimedia functionality (including music, video, cameras, and gaming), along with core phone functions such as voice calls and text messaging. In terms of volume, the market is registering a CAGR of 7.4% over the projection period. ![]() The market is registering a CAGR of 7.5% over the forecast period 2022-2030. Global Smartphones Market is projected to witness a major leap forward in its revenue from US$ 273.9 Bn in 2021 to US$ 520.7 Bn by 2030.
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