Smartphone Market Rebounds! TechInsights Raises Shipment Forecasts for 2024 and 2025
Smartphone Market Rebounds! TechInsights Raises Shipment Forecasts for 2024 and 2025Market research firm TechInsights today announced an upward revision of its global smartphone shipment forecasts for 2024 and 2025, factoring in an improved macroeconomic outlook driven by interest rate cuts and easing inflation. Global smartphone shipments are projected to grow 3% year-over-year in 2025
Smartphone Market Rebounds! TechInsights Raises Shipment Forecasts for 2024 and 2025
Market research firm TechInsights today announced an upward revision of its global smartphone shipment forecasts for 2024 and 2025, factoring in an improved macroeconomic outlook driven by interest rate cuts and easing inflation. Global smartphone shipments are projected to grow 3% year-over-year in 2025.
The report notes that upward revisions in North America, Western Europe, Asia Pacific, Central and Latin America, and Africa and the Middle East offset declines in Central and Eastern Europe in 2024. Notably, while most of the Asia Pacific region saw shipment forecasts raised, the region's 2025 forecast was lowered, primarily due to the suspension of 5G smartphone promotion by Reliance Jio.
TechInsights anticipates Apple to surpass Samsung as the world's largest smartphone manufacturer in 2025. The report indicates that Apple stabilized its performance in the Chinese market through aggressive price discounts, while a mix of older iPhone models and the upcoming iPhone SE release next year will stimulate demand in emerging markets.
Meanwhile, improved macroeconomic conditions in mature markets, favorable exchange rates, and technological innovations (such as Apple Intelligence and the anticipated iPhone 17 Slim) will also drive iPhone upgrade sales in mature markets in 2025.
Overall, TechInsights is optimistic about the global smartphone market in 2024 and 2025. Macroeconomic improvements brought about by interest rate cuts and easing inflation will inject vitality into the smartphone market and drive global smartphone shipments growth. Apple's strong performance and rising demand from emerging markets will be key drivers of market growth.
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