The global smartphone market will hit a new record by 2021, according to the latest data IDC.
According to the market research company, shipments of Smartphones It is projected to reach 1.38 billion units in 2021, an increase of 7.7% over 2020. IDC says this trend will continue through 2022, when year-over-year growth is 3.8% and shipments total 1.43 billion.
“While the 7.7% growth will feel like an impressive turnaround, we have to keep in mind that we are recovering from one of the toughest years on record,” said Anthony Scarsella, research manager at IDC’s Worldwide Mobile Device Trackers. “2021 will be the biggest year-over-year growth since 2015 as the transition to 5G continues to accelerate across all pricing tiers,” he added.
IDC attributes this growth to the migration to 5G – where networks are provisioned. “With 5G shipments expected to surge nearly 130% in 2021, almost all regions outside of China will see triple-digit growth by the end of this year,” IDC said.
As for the non-5G markets, IDC says that after the pandemic slowed down last year, there is strong demand for mid- and lower-priced 4G phones.
“Smartphones see competition for consumer spending from related markets such as PCs, tablets, televisions and smart home devices, but that hasn’t slowed the market recovery,” said Ryan Reith, program vice president, IDC’s Worldwide Mobile Device Trackers . “The smartphone market returned to growth in the Christmas quarter of last year and since then we’ve only ramped up production from top vendors,” he added.