Published on: November 13, 2019
Electronic devices such as smartphones and tablets that act as a portable computer and typically have a touchscreen interface along with an operating system that can operate mobile application falls under the scope of the mobile market. With growing digitization, increasing internet penetration, and increased consumer dependency on mobile applications, the demand for these mobile devices is increasing rapidly. We have categorized mobile market as a part of the overall technology hardware, storage & peripherals market. The technology hardware, storage & peripherals market covers manufacturers of cellular phones, personal computers, servers, electronic computer components and peripherals. Includes data storage components, motherboards, audio and video cards, monitors, keyboards, printers, and other peripherals.
The global mobile market was valued at around 1800 million units in 2018 which is expected to reach 1950 million units by 2023 growing at a CAGR of 1.61%. The mobile market is dominated by smartphone sales owing to increased consumer preference as a priority mobile device. The tablet market which has the second dominant share is witnessing a continuous slowdown which is expected to hinder the growth of the global mobile market. Based on the platform, android market has the dominant market share. However, Apple dominates the tablet market with launch of its new iPad Air and iPad mini.
Based on geography, APAC dominates the global mobile market owing to the presence of prominent vendors like Samsung Electronics, Huawei Technologies, and OPPO. With rising digital literacy, increasing internet penetration, and increased disposable income in multiple countries in APAC region has led to the increased sales of new smartphones. Further, the European market is witnessing a gradual increase in growth rate for smartphone shipment owing to the entry of new Chinese players in the region leading to the availability of cheaper smartphones.
Global mobile market can be segmented into the following:
Many factors are expected to influence growth in the global mobile market during the forecast period. Our analysis identifies the following factors to be driving the growth of the global mobile market:
Many Chinese mobile computing device manufacturers are making significant profits through the sales of low-cost smartphones. These smartphones are integrated with several features that are usually available in high-end smartphones. Moreover, customers in developing countries tend to be less brand-conscious than their developed counterparts and focus more on value and functionality than brand appeal. By identifying this underlying trait, several smartphone manufacturers are releasing products in lower price ranges.
The global internet usage has increased significantly in the last decade and total internet penetration reached more than 85% in developed countries like the US and Germany and in developing countries it is also increasing exponentially. People are getting highly dependent on the internet and mobile apps. As a result of this, almost everybody is looking to adopt mobile devices driving the mobile market.
Vendors in the mobile market and related market are rapidly investing in R&D activities leading to the development of new devices and components like image sensors, processing chips, displays, and batteries. Such development leads to the introduction of new mobile devices with improved features such as notch display and high-end cameras, hence increasing the demand in the global mobile market.
Collaborations and partnerships help the vendors in product development, geographical expansion, and gaining access to technological expertise. This also enables vendors to explore new opportunity areas for products and services. For instance, Samsung Electronics partnered with Vivo, under which Vivo will integrate the Exynos 980 processor developed by Samsung Electronics.
The upcoming global commercialization of the 5G network is the most anticipated trend in the global mobile market. The introduction of the 5G network will increase the demand for new mobile devices which are compatible with the new standard. The demand for 5G enabled smartphones and tablets are expected to breathe energy in saturated markets like Europe and Europe.
Meanwhile, the vendors operating in the market face numerous challenges in increasing their sales and improving profitability. Some of those challenges are:
The consumer preference for tablets witnessed a slowdown in recent years. The presence of alternatives like smartphones and tablets with small form factor makes it difficult for tablet manufacturers when it comes to product placement.
One of the prominent factors that is hindering the global mobile market expansion is the growing market for counterfeit mobile devices. The market is filled with fake copies of all the prominent products from major vendors. A large majority of these counterfeit products are manufactured in APAC region owing to the presence of low-cost labor. The customers are buying counterfeit products knowingly or unknowingly owing to the significantly reduced price of the product.
Our report on the global mobile market covers several large and small vendors active in the market including Samsung Electronics Co. Ltd., Apple Inc., Huawei Technologies Co. Ltd., Lenovo Group Ltd., Xiaomi Corp., and Guangdong OPPO Mobile Telecommunications Corp. Ltd (also known as OPPO)
Investment in the latest technology and production facilities, partnership and collaboration, and the introduction of new products are some of the strategies adopted the manufacturers in the global mobile market.
Following are few of the major development in the market:
Backed with competitive intelligence and benchmarking, our mobile market research is designed to provide entry support, customer and M&A assessment, as well as go-to-market strategy support.
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