target audience: TECH SUPPLIER Publication date: Dec 2023 - Document type: Market Forecast - Doc Document number: # US51434323
Worldwide Mobile Phone Forecast Update, 2023-2027: December 2023
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Abstract
This IDC study presents the five-year forecast for mobile phone shipments worldwide by device type. The worldwide mobile phone market will reach 1,373.9 million units shipped in 2023, down 4.4% from the 1,437.1 million units shipped in 2022. From there, total mobile phone shipments will grow to 1,436.6 million units worldwide by 2027, resulting in a CAGR of 0.0% from 2022 to 2027.
"Despite another lackluster year for smartphones, 5G adoption continues to be a bright spot in the overall market," said Anthony Scarsella, research director with IDC's Worldwide Quarterly Mobile Phone Tracker. "With 5G devices becoming less relevant in most developed markets, the growth of 5G in emerging markets will play a crucial part in the rebound in 2024 and throughout the forecast period. Global 5G shipments are expected to grow 11% in 2023 and 20% in 2024. Moreover, the share of 5G smartphones will jump from 61% in 2023 to 83% by 2027. While the smartphone will witness a small CAGR of 1.4% from 2022-2027, 5G shipments will demonstrate an impressive 11.1% growth rate for the same period."