The growth of the global smart phone market is record by the end of 2021

The global smartphone market is set to set a new record in 2021, according to the latest data released by IDCK, and according to the market research firm, smartphone shipments are expected to reach 1.38 billion units in 2021, which is an increase of 7.7% from 2020, and IDC says this trend is set to continue until 2022. On an annual basis, growth will be 3.8% with total shipments of 1.43 billion.

Anthony Scarcella, Director of Research at IDC's Worldwide Mobile Device Trackers said, although 7.7% growth would seem like an impressive market turnaround, we have to keep in mind that we are recovering from one of the most challenging years ever. 2021 will mark the largest annual growth the market has seen since 2015, as the shift towards 5G across all price levels continues to accelerate.

IDC attributes this growth to the move towards 5G - where networks are deployed, and IDC said, with 5G shipments expected to grow nearly 130% in 2021, almost all regions outside China will experience triple-digit growth by the end of this year. For those that do not support 5G networks, IDC says there is strong demand for low-end, mid-range 4G phones after the pandemic slowed last year.

Ryan Reith, vice president of program at IDC's Worldwide Mobile Device Trackers said, Smartphones are seeing competition for consumer spending from neighboring markets such as PCs, tablets, TVs, and smart home appliances, but that has not slowed the market’s path to recovery. The smartphone market has returned to growth over the last quarter, and since then we have only seen an increase in production from major suppliers.

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