Rapid Adoption of Smartphones To Expedite Smartphone Industry Growth.
Smartphones are mobile phones with advanced computing capabilities and connectivity that were introduced to the consumer market in the late 1990s. With the introduction of Apple's iPhone in 2007, the devices' mainstream popularity skyrocketed. The iPhone changed the industry by providing user-friendly features like a touch screen interface and a virtual keyboard. In late 2008, the first smartphone running an Android OS was released to the public.
How Much Is The Smartphone Industry Worth?
What is the size of the smartphone industry? In monetary terms, the smartphone industry was valued at USD 507.2 billion in 2021, with a projected increase to USD 982.8 billion by 2030. As a result of the growth of social media platforms such as Facebook and Twitter, smartphone usage has skyrocketed. Smartphones have advanced significantly over time and now include cutting-edge technologies such as GPS, gyroscopes, flash memory, optical fingerprint sensors, near field communication (NFC), augmented reality, and virtual reality.
Consumers' disposable income has increased globally, increasing their ability to spend on media, entertainment, mobile communication devices, and networking. Purchases of electronic devices such as cell phones, laptop computers, tablets, and gaming consoles have increased significantly in recent years. These advancements in recent years have significantly accelerated the global smartphone market value.
Smartphone Industry Updates
The introduction of 4G LTE technology and a 5G network in a number of emerging markets is expected to boost smartphone sales. To meet the growing demand for 4G and 5G smartphones among tech-savvy consumers, various smartphone manufacturers are focusing on the release of 5G devices. As demand for 5G devices grows, the cost of 4G smartphones is expected to fall, resulting in smartphone market size growth.
Furthermore, governments in countries such as India, China, Taiwan, the United States, and others are relying more on providing digital information, education, and other related services in collaboration with leading companies, which has certainly fueled demand. As a result, global market growth accelerates. Apple, Inc., for example, announced a USD 430.00 billion investment in the United States in April 2021 to support American innovation strategies over the next five years.
The Need For Smartphone Industry
Smartphones are used to communicate and stay connected in our digitally dependent society. In addition to standard text messaging and phone calls, a smartphone keeps users connected through messaging services, email, video calls, and social networking apps. A smartphone is a portable computer that can access and browse the Internet. Keep up with breaking news and shop online, for example, from your smartphone – anywhere, anytime.
Because of its advanced main features and capabilities, the smartphone is a mobile device that operates as a handheld mobile computer in addition to basic features such as text messaging, email, and GPS navigation. The first feature that distinguishes a smartphone from other mobile phones is its mobile operating system (OS), which includes Google's Android and Apple's iOS. A smartphone, in addition to the operating system, typically includes high-speed Internet access and a built-in browser for viewing Web pages. The Web is accessed on a smartphone via 4G or 3G data networks, Wi-Fi support, mobile broadband, NFC, or Bluetooth.
Users can customize their smartphones by downloading apps, which is one of the most enjoyable and useful aspects of owning a smartphone. Applications can enable your smartphone's functionality to do seemingly anything, from staying up to date on breaking news and tracking finances to playing games and managing a business. Follow your favorite blogs, get up-to-date sports scores for your favorite teams, and stay organized and productive. Millions of apps are available for download to help you simplify and improve your daily life.