The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Smartphone Market Size. The growth sectors of the Smartphone Market Size are identified with precision for a better growth perspective.
Smartphones are objects of our daily lives that were once considered a luxury but now are in possession of almost every individual on the plant, linking them in a seamless manner. The obsession with this technology is expected to grow further at an alarming rate in the coming years. Since the earlier period, smartphones have altered the manner in which we live our lives. They are present in almost every area of our lives, whether it’s checking the weather to operating a business; the human race has become reliant on these little controlling devices to fulfill our tasks on a daily basis with no difficulty. The introduction of the smartphone in our daily lives has done away with certain things such as letters, calculators, and phonebooks, to name a few that have become obsolete in human society. Smartphones have time and again changed to better meet our rising needs in the shape of quicker wireless connections, sharper images, and superior memory storage, to name a few.
The real smartphone revolution is believed to have started when Steve Jobs revealed the first iPhone. The previous phones, which had up until then been dependant on keypads and could work a simpler version of the internet. The iPhone’s huge touchscreen (at that time) could browse through websites similar to a desktop computer, all the while looking sleeker than anything customers had previously used before. The promise of 5G networks for the year 2020 suggest even quicker speeds and augmented bandwidth that many people think may facilitate the ushering in of life-changing technologies like virtual reality training, real-time telemedicine, and really smart cities. For instance, the critical telecom carriers in the European region have decided to reveal smartphone location data with the European Commission in order to improve on tracking the range of the coronavirus cases. The commission has said it will collect the location data anonymously in order to guard the confidentiality of users. The information will be used to organize measures such as the delivery of medical equipment, the location of quarantined patients, and more. The data is expected to be deleted after the emergency is over.
However, the evolution of smartphones seems a given, and development be more on the lines of what consumers want, such as the incorporation of useful features to validate the escalating cost. The futuristic phones are expected to flaunt flexible displays. Companies such as Motorola and Samsung have already gotten off to running start in regard to the launch of their respective models featuring foldable displays. But more many other companies in this market depends on how they navigate the next few years. Currently, foldable phones are primarily regarded as motivating gimmicks, but ones that the majority of people wouldn’t consider this as their next phone.
Another notable progress that is expected to disrupt the smartphone market is the upgradation of mobile networks and data speeds. Mobile networks are the literal spine of the smartphone market that allows users to gain more from their smartphone usage. 5G networks have already been introduced in certain countries and are about to be introduced in several others. The additional speed is expected to benefit people, especially people in well-developed areas, where 4G is by now faster than most networks. This development is also likely to spark off the development of apps that can make the most of the high-speed connection. This will imply that in the coming years, companies will present more 5G phones and lesser 4G handsets, shadowing the pattern of a new generation of connectivity, making 5G enabled handsets that are a rarity now to something like the common as the 4G sets that we now use.
Smartphone Market is projected to grow at a 16.4% CAGR over 2025, Global Smartphone Market Research …
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