Research firm Strategy Analytics released a report today stating that the global smartphone user base will grow by 11% from 2023 to 2027. The global smartphone penetration rate will continue to rise.
The report pointed out that in the short term, the growth is driven by the demand for home office/learning due to the epidemic. In the long run, the growth will be driven by emerging markets such as Brazil and India and will be driven by the upgrade needs of feature phone users. North America and Western Europe will maintain penetration leadership, while Africa and the Middle East will have the highest growth potential.
Strategy Analytics previously predicted that global smartphone shipments in 2022 will drop by 10% year-on-year. The downward trajectory will continue until 2023, but the annual growth rate will improve to -5%. Global smartphone shipments will hit the lowest level since 2014.
Additionally, Strategy Analytics expects the smartphone market to rebound starting in 2024. By 2025, the global smartphone market will return to pre-pandemic levels. China, India and the US will remain the top three smartphone markets through 2027.
