Smartphone market to grow, China to fall below 30%
The report finds that the worldwide mobile phone market is anticipated to see 4.8% year-on-year growth in 2015, while smartphone market that touched 31.5% year-on-year growth last year is to slow down to 11.3% in 2015.
Looking at smartphone market share by region, while China is expected to occupy a lion's share of over 30% in 2015, its share however is predicted to fall below 30% in 2016 and thereafter.
By 2019, the market volume is projected to reach around 1.83 billion units, registering a CAGR of 7.1% over the period 2014-2019.
This research says the APAC region has emerged as a driving force behind the increase in smartphone sales, as the price of smartphones in the region have declined significantly, and are expected to fall even further by 2019.
The market is witnessing a trend towards larger screen sizes, with many top smartphones sporting screens ranging from five to seven inches. ■