Global smartphone market expected to grow by 12 percent this year

Global smartphone market expected to grow by 12 percent this year

Global smartphone sales are recovering from the corona crisis and will increase significantly in the next few years despite new risks due to scarce components. […]

After three years of declines, global smartphone sales are recovering, rising 12 percent to 1.4 billion devices this year compared to 2021. The market researchers at Canalys also expect growth for the period from 2022 to 2024, but this is expected to be more moderate.

Due to the consequences of the corona crisis, sales fell by 7 percent last year. Analysts attribute the market recovery primarily to the increased importance of smartphones for people’s communication, but also to a shift in consumer spending away from travel and leisure activities.

Already 43 percent of all devices sold will be 5G-capable this year, in 2022 they should even make up the majority. Drivers of this development are increasingly favorable sales prices: almost a third of the 5G phones that go over the counter this year come from the price range below $ 300.

However, market researchers recognize a risk in the general shortage of semiconductors, which also affects smartphone manufacturers. In response, they could focus their delivery priorities more on more lucrative markets such as China, North America and Europe, as well as supply fewer distribution channels such as network operators and online shops. The scarcity of chipsets could also cause device prices to rise again.

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