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Global Smartphone Market to Grow by 64 mn Units in 2020-24

Vendors such as Apple, Huawei, and Samsung are increasingly investing in R&D to provide best user experience using AI

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Smartphone
The result of Smartphone addiction is such that 30 per cent fewer people meet family and loved ones multiple times a month. Pixabay

Riding on the Artificial Intelligence (AI)-enabled features, the global smartphone market is expected to grow by 64.05 million units during 2020-2024, a new report said on Wednesday.

According to London-based market research firm Technavio, the consumer’s shift to online purchases will have a positive impact on the market and contribute to its growth significantly over the forecast period.

“Online smartphone sales contributed to around 50 per cent of the total sales in India as of April 2019 because many major e-commerce vendors such as Amazon and Flipkart are promoting multiple brands of smartphones,” said the report.

In addition, online distribution channel requires limited investments and eliminates additional costs for the seller as well when compared to the offline channel.

The online sales volume of smartphones is increasing due to factors such as wide assortment of products, convenience, and the availability of products at special prices and discounts.

Vivo, OPPO
As an industry leader in innovation, OPPO has invested heavily in the development and research of 5G smartphones. Wikimedia Commons

“This is expected to further increase the variety and number of products available over the online channel. All these factors are expected to showcase a positive outlook for the market over the forecast period,” the report added.

AI is gaining traction in the smartphone industry as it has transformed the way consumers interact with technology.

“AI facilitates the introduction of features such as augmented reality (AR), facial recognition, device management, emotion recognition, user authentication, and more,” said the report.

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Vendors such as Apple, Huawei, and Samsung are increasingly investing in R&D to provide best user experience using AI.

“AI-enabled smartphones consume less power to perform multiple operations per second. Thus, technological advances in AI and its integration in smartphones, will drive sales leading to the growth of the smartphone market during the forecast period,” the report added. (IANS)

Next Story

Huawei Dominates Chinese Smartphone Market With 39% Share, Xiaomi Slips To 5th Spot

Xiaomi with 8.1 million shipments, got 9.5 per cent slice of the pie

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Huawei
Meanwhile, in a breather to the Chinese telecom equipment and smartphone giant Huawei, the Pentagon has blocked the Commerce Department-backed ban on sales that make it harder for US-based companies to sell equipment to the handset maker. Wikimedia Commons

Telecom and smartphone giant Huawei extended its dominance in the China market in the fourth quarter of 2019 with a massive 39 per cent market share and 33.3 million unit shipments while Xiaomi slipped to fifth spot with a mere 8.1 million shipments and 9.5 per cent slice of the pie, Singapore-based market research firm Canalys has revealed.

For the calendar year 2019, Huawei had an impressive 142 million shipments in the domestic market — a 35 per cent growth over 2018.

Oppo with 65.7 million and Vivo with 62.7 million were the other two shipment leaders for the full year 2019. Xiaomi with 38.8 million and Apple with its 27.5 million completed the top-five list for 2019.

In the fourth quarter (October-December period), Oppo retained the second spot with 14 million units shipped and a 16.4 per cent market share.

Vivo grabbed the third spot with 13.1 million shipments and 15.4 per cent market share, followed by Apple at the fourth place with 10.1 million sales and 11.8 per cent market share.

Xiaomi with 8.1 million shipments, got 9.5 per cent slice of the pie. Notably, all these major original equipment manufacturers (OEMs) had significant declines compared to the Q4 2018 values. Total smartphone sales for 2019 came out to 369 million units which is a 7 per cent down on a yearly basis.

Huawei
Telecom and smartphone giant Huawei extended its dominance in the China market in the fourth quarter of 2019 with a massive 39 per cent market share and 33.3 million unit shipments while Xiaomi slipped to fifth spot with a mere 8.1 million shipments and 9.5 per cent slice of the pie, Singapore-based market research firm Canalys has revealed. Pixabay

Meanwhile, in a breather to the Chinese telecom equipment and smartphone giant Huawei, the Pentagon has blocked the Commerce Department-backed ban on sales that make it harder for US-based companies to sell equipment to the handset maker, the media has reported.

The US Department of Commerce had put Huawei on the “entity list” in May 2019, thus, preventing US firms from conducting business with the company unless they obtain a specific license, citing national security concerns with the Chinese telecommunications giant.

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The UK has also decided to let China’s Huawei continue to be used in its 5G networks but with restrictions, including banning its equipment in the network’s “sensitive parts”, like the core, and capping the presence of its kit in the network’s periphery to 35 per cent. (IANS)