CHART: Global smartphone shipments predicted to rebound with 4% Growth in 2024
This growth marks a turning point after several sluggish years.
- Global smartphone shipments are forecast to rebound 4.0% in 2024, reaching 1.21 billion units.
- Android is expected to surge at 4.8% growth, while Apple's iOS faces headwinds with a meagre 0.7% increase.
- 5G smartphones are expected to see a 16% increase in 2024, reaching 67.2% of all smartphone shipments in the year.
The global smartphone market is finally showing signs of life, with analyst firm IDC predicting a 4.0% year-over-year shipment increase to 1.21 billion units in 2024.
This growth marks a turning point after several sluggish years, and IDC expects the momentum to continue till 2028, with a five-year compound annual growth rate (CAGR) of 2.3% throughout the forecast period.
Amidst the overall market rebound, Android is expected to be the key driver, growing at a robust 4.8% compared to a meagre 0.7% for Apple's iOS. This disparity can be attributed to two factors: Android's recovery from a rough past two years, and Apple facing intensifying competition in China, a crucial market.
Meanwhile, 5G smartphones are expected to gain traction and continue to be a significant growth factor. IDC predicts nearly 16% growth in 5G devices in 2024, with adoption expanding across all regions. This trend is expected to continue, with 5G market share reaching 74.4% by 2025, up from 67.2% in 2024.
