TECH SUPPLIER Dec 2017 - Market Forecast - Doc # US43319318
Worldwide Smartphone Forecast Update, 2017–2021: December 2017
This IDC study presents the updated five-year forecast for smartphone shipments worldwide by device vendors. The worldwide smartphone market will reach a total of 1.49 billion units shipped in 2017, up 1.2% from the 1.47 billion units shipped in 2016. From there, shipments will reach 1.71 billion units in 2021, the final year of our forecast period, resulting in a CAGR of 3.0%.
"2017 has brought a plethora of high-priced feature-rich smartphones to the market that has given consumers a wealth of options at the new ultra-high-end segment of the smartphone market," said Anthony Scarsella, research manager with IDC's Mobile Phones team. "The latest flagship devices from Samsung, Apple, Google, LG, and others have pushed the high end to the $850+ level for the first time. Despite these price hikes, consumers look as if they are willing to swallow the cost just to have the latest and greatest device in their pockets. Although many consumers may not be able to afford these devices in more price-sensitive markets, programs such as device financing combined with trade-in policies are making these devices more attainable to buyers in some markets. This growth at the ultra-high-end segment translates to higher average selling prices (ASPs) for smartphones throughout the forecast period. By 2021, the last year of our forecast, smartphones will reach an ASP of $317.12, up from $282.49 in 2016, representing a CAGR of 2.3%."
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