Futuresource Mobile Phones
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Current Market Trends
The mobile phone market achieved 1.96 billion shipments in 2021, generating a market value of $318.2 billion. This represented an increase of 0.4% in volume growth and an increase of 8.3% in value growth over 2020.
Regionally, market value share is expected to decline in Eastern Europe and China, despite rising ATP, predominantly driven by the decline in the volume expected in these two regions. Value share in the mature markets of North America and Western Europe cumulatively accounted for 27.4% of value in 2022, down from 28.1% in 2021. In contrast, APAC (excluding China) experienced growth in value share, accounting for 31.4% of revenue in 2022 from 29.4% in 2021.
By 2026, Futuresource expects the mobile handset market will generate $399 billion across both feature phones and smartphones, growing at a CAGR of 4.9% between 2022 and 2026. Feature phones will see a declining trend, whereas smartphones are forecast for value growth of CAGR 5.2%.
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