In an exciting outlook for the global smartphone market, recent research indicates that by 2024, smartphone shipments worldwide are expected to surge, reaching a total of 1,181.4 million units, marking a remarkable growth of 4.9%. The next five years promise to be transformative, especially as more users in regions like India, Southeast Asia, Latin America, and Africa transition from feature phones to smartphones, prompted by the proliferation of 5G networks. This technological advancement is set to significantly bolster smartphone shipments in these burgeoning markets.
Forecasts suggest a steady annual increase in global smartphone shipments, averaging between 3% and 4%, with a compound annual growth rate (CAGR) of 3.6%. As inflationary pressures ease and regional purchasing power rebounds, 2025 is anticipated to continue this growth trajectory, with shipments projected to hit 1,223.9 million units.
The upcoming year is expected to witness nine major smartphone brands surpassing the milestone of 30 million units in shipments. These brands, which will hold a commanding 92.7% of the global market share, include Samsung, Apple, Xiaomi, Oppo, Transsion, Vivo, Honor, Lenovo, and Huawei.
In the realm of 5G technology, 2024 will see shipments of 5G-enabled smartphones soar to 711.5 million units, representing an impressive 23.6% growth from 2023. Looking forward, between 2025 and 2029, an annual increase of 80 to 140 million 5G units is anticipated, reflecting the rapid adoption of this next-gen network.
The integration of cutting-edge technologies like large language models and generative AI into smartphones is set to revolutionize user interaction. These advancements will empower users with sophisticated personal AI assistance, seamlessly interacting across multiple devices and performing tasks through conversational commands.
The next half-decade promises groundbreaking advancements in smartphone technology and usability, chiefly driven by the integration of AI into mobile ecosystems. As personal AI agents evolve, their ability to interact with various applications and services will define the competitive landscape of the smartphone industry, heralding a new era of convenience and connectivity for users worldwide.
