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Latest global smartphone market trends

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Latest global smartphone market trends

  1. 1. Latest Global Smartphone Market Trends
  2. 2. Industry Overview - By 2019, the global smartphone market’s value was $714 billion, with an expected CAGR (Compound Annual Growth Rate) of 11.2%. - According to the Polaris Market Research Report, 5G led the global smartphone technology trends valued at $13.4 billion in 2019. Experts project a 122.7% expansion in it by 2027. - However, the latest smartphone sales trends reveal that the coronavirus pandemic also affects the 5G growth. 5G-smartphone sale cuts down significantly worldwide during the first two quarters of 2020. - Coronavirus uncertainties continue to influence consumer buying behaviour negatively. Most consumers are still cautious in their spending, catering to their essentials first and luxuries later. - COVID-19 based Global supply line disruptions also affect the mobile industry. For instance, Foxconn, a famous smartphone assembler, shut down its assembly plants in China in February 2020. More recently, Apple shares fears of cutting iPhone 13 production due to chip shortage. - Software development also faces slowdowns like the rest of the
  3. 3. Factors Driving Global Smartphone Market Trends Mobile-First Mindset With COVID019 running wild all around the world in 2020, many industries took a drastic hit. Travel and tourism, hoteling, and hospitality industries were hit initially and vehemently. The consequent health emergency and lockdowns led people to confine themselves into their homes. As a result, we saw a mobile-first mindset taking over, coercing more and more people to turn to their mobiles to complete almost all essential tasks. From calling and texting apps to productivity apps, and travel apps, people’s reliance on different sorts of apps continues to soar until now. And this trend will continue, at least shortly. So, businesses worried about their survival and growth should focus on introducing apps to cater to the masses’ mobile-first mindset. App Annie reports that people downloaded 22.5 billion new apps on Google Play during the first quarter of 2020.
  4. 4. Factors Driving Global Smartphone Market Trends AI Personalisation The use of artificial intelligence (AI) and machine learning (ML) also continues to increase in mobile applications, focusing primarily on improving the user experience on the go. The pandemic seems to push this trend further. A report by Markets and Markets estimates the AI market to grow to a $190 billion industry by 2025. With people turning to mobiles and apps as an alternative to physical restrictions resulting in the aftermath of COVID, researchers resort to AI’s ability to customise the user experience based on customers’ unique behaviour. It also serves to complement the mobile-first mindset of global audiences, giving them a highly personal and individualised user experience.
  5. 5. Factors Driving Global Smartphone Market Trends IoT – The Next Big Thing More than anything else, COVID-19 has proven successful in highlighting the significance of connectivity – of both people and things. That makes the “Internet of Things” (IoT) more relevant than ever. Why? Because it helps bring things closer, connecting them ingeniously and making it easier for you to control them at will. IoT has shown its efficacy in mobile apps in various manners after the pandemic. From tracing and tracking apps to patient-care apps for offering improved treatment to people suffering from COVID and other diseases, IoT also aids mobile app development to secure your homes. The need of securing our homes post-covid also surfaces insistently, as the pandemic forces people to spend most of their time within their homes.
  6. 6. Factors Driving Global Smartphone Market Trends Agility and Convenience of 5G Technology 5G also secures and establishes its place in the factors that influence global smartphone market trends. More and more people jumping in on the smartphone bandwagon means more people looking for a quick and seamless connectivity experience. And what better than 5G, offering better speed and connectivity than ever. You’ll be wrong in confining the benefits of 5G services only for millions of people resorting to streaming services for entertainment purposes. As the number of people interested (read forced!) in using mobiles for everything increases, so will the need for businesses looking for more incredible data speeds and higher bandwidths to better serve their customers.
  7. 7. Factors Driving Global Smartphone Market Trends Viable Alternatives for Global Connectivity According to the latest updates on the recent global internet outages by S&P Global Market Intelligence, the 3rd week of September 2021 saw a 30% hike in the volume of global internet outages. The times like these help us realise things we start taking for granted when we get used to their better alternatives. For instance, Talk Home App recently registered a 32% increase in its overall userbase. It’s an app that allows you to call and text anyone, anywhere in about 240 global destinations. But without the need for the internet! Instead, it relies on local lines to connect you on mobiles as well as landlines. So, it turns out that deep down, people still crave to communicate with their loved ones and are ready to go the extra mile when the need arises. For now, it seems like people will move forward with their search for viable alternatives for global connectivity, keeping this trend alive in the future as well.
  8. 8. Top 8 Global Smartphone Market Trends - Simply Named Product Lines - Compact Phones – The Balancing Act - Curves and Folds in the Display - Displays with High Refresh Rates - Fast Charging - Photographic Innovations - Enhanced Software Experience - Intrepid Designs - Embracing The Future View complete blog at: Link
  9. 9. Visit today blog.talkhome.co.uk

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