The projected global smartphone shipment volume for 2024 is expected to reach 1.148 billion units, marking a 3% year-on-year growth compared to 2023, said Rachel Liao, senior industry analyst at MIC (Market Intelligence & Consulting Institute). Liao further noted, "Global 5G smartphones alone are anticipated to reach 780 million units in 2024, reflecting an 18.7% year-on-year increase, with the penetration rate to reach 68%, better than our predictions made in August this year."
Global Smartphone and 5G Smartphone Market Volume, 2023-2024
| |
2023(e)
|
2024(f)
|
|
WW Smartphone
(Unit: Billion)
|
1.115
|
1.148
|
|
GR(%)
|
-7%
|
3%
|
| |
2023(e)
|
2024(f)
|
|
WW 5G Smartphone
(Unit: Million)
|
660
|
780
|
|
5G Penetration
|
59%
|
68%
|
|
GR(%)
|
4.5%
|
18.7%
|
| |
|
|
Source: MIC, December 2023
While the global smartphone market showed signs of improvement in the second half of 2023, the market volume is anticipated to have hit a ten-year low in 2023. Furthermore, despite the better-than-expected performance of the Chinese market in the fourth quarter, there remains uncertainty regarding whether this indicates a complete recovery of the consumer market or merely a short-term return of consumer demand in 2024.
About Market Intelligence & Consulting Institute (MIC):
Established in 1987, Market Intelligence & Consulting Institute (MIC) is a division of III (Institute for Information Industry), a major government think tank, and one of the leading IT research institutes in Taiwan. MIC specializes in industry and market research. With over three decades of experience, MIC provides valuable insights and data-driven recommendations to assist businesses in making informed decisions.
To know more about this topic, please visit: Worldwide Smartphone Forecast, 2023 - 2027 (May 2023 Update), Development of the Taiwan Information and Communications Technology Industry, 2023 and Beyond, Taiwan 5G FWA CPE Industry, 2Q 2023, Global and Taiwan 5G Smartphone Shipment Five-Year Forecast: 2023-2027 (pre-order)
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