Globaldata’s Global Mobile Phones market report gives key insights into the market data analysis, category segmentation, and market distribution among others.
The global mobile phone market has been sluggish over a historic period. Declining market sales in 2020 were in contrast to the annual growth rate of 6.0% in 2021. Moderate market growth is expected to resume Over the forecast period. The global mobile phone market is nearing saturation due to the widespread use of mobile phones. Smartphones around the world. There are about 8.1 billion mobile subscriptions and that’s over the world population (7.9 billion people). This slows market growth as it creates little value for New mobile subscribers.
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The performance of the market is forecast to accelerate, with an anticipated CAGR of 3.7% for the five years 2021 – 2026, which is expected to drive the market to a value of $910.9 billion by the end of 2026. Comparatively, the Asia-Pacific and US markets will grow with CAGRs of 4.5% and 3.4% respectively, over the same period, to reach respective values of $394.3 billion and $232.7 billion in 2026.
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- Market volume: The global mobile phone market grew by 0.2% in 2021 to reach a volume of 674.9 Average MOU. The compound annual rate of change of the market in the period 2017–21 was -0.2%
- Market value forecast: In 2026, the global mobile phones market is forecast to have a value of $879.4 billion, an increase of 23% since 2021. The compound annual growth rate of the market in the period 2021–26 is predicted to be 4.2%
- Five Forces Analysis: The mobile phone market will be analyzed taking MNOs and minors as players. The key buyers will be taken as consumers and businesses, and mobile phone manufacturers, government organizations, and mobile infrastructure businesses as key suppliers
Source from Global Data
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