Smartphone Market to Grow at a CAGR of 8.33% During the Forecast Period
Increasing GDP per capita income and technological advancements are expected to drive the growth of the global smartphone market. According to TechSci Research report, “ Global Smartphone Market –Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2017-2027”. The global smartphone market is expected to reach USD809.95 billion by 2027F with a CAGR of 8.33% during the forecast period. Smartphone sales are expected to increase during the forecast period due to increasing consumer preference, rising disposable income, a growing 5G network sector, and a rising population worldwide. However, two major smartphone that are more trending in the global smartphone market are: foldable smartphones and 5G smartphones. Many industry analysts see foldable phones as the smartphone's future and a potential driver of renewed market growth. Several smartphone OEMs, including Huawei, Xiaomi, Microsoft, Samsung, and Motorola, have recently introduced foldable phones. 5G connectiv