CHART: Worldwide Smartphone Market Forecast in 2024
Early 2024 has already shown promise, with 12% growth in Q1 and 9% in Q2, sparking optimism for a continued upward trend throughout the year.
- Global smartphone shipments are forecasted to grow 5.8% in 2024, reaching 1.23 billion units.
- Android devices are expected to grow 7.1% outpacing iOS growth of 0.8%.
- Generative AI (GenAI) smartphones are expected to see a 344% growth, capturing 18% of the market by the end of 2024.
The smartphone market, once battered by economic uncertainties and supply chain disruptions, is showing signs of a robust recovery.
Global smartphone shipments are projected to grow by 5.8% year over year in 2024 reaching 1.23 billion units, according to IDC. Early 2024 has already shown promise, with 12% growth in Q1 and 9% in Q2, sparking optimism for a continued upward trend throughout the year.
This resurgence is particularly evident in China and developing regions, where affordable smartphones are experiencing a significant uptick in demand.
A key factor in this rebound is the growth of Android smartphones, especially in emerging markets like China. Following a tough two years, affordable Android devices are gaining traction again, fueling market expansion.
According to IDC, Android shipments are set to grow 7.1% in 2024, far outpacing iOS’s 0.8% growth, which faces headwinds in China due to heightened competition.
