TECH SUPPLIER Mar 2020 - Market Forecast - Doc # US46134020
Worldwide Mobile Phone Forecast, 2020–2024
This IDC study presents the five-year forecast for mobile phone shipments worldwide by device type. The worldwide mobile phone market will reach a total of 1,687.1 million unit shipments in 2020, down 6.0% from the 1,794.2 million units shipped in 2019. From there, total mobile phone shipments will dip to 1,729.6 million units worldwide by 2024, resulting in a CAGR of -0.7% from 2019 to 2024.
"The global smartphone market recovery will be impacted in 2020 as uncertainties around COVID-19 continue to raise concerns in most major markets," said Anthony Scarsella, research manager with IDC's Worldwide Quarterly Mobile Phone Tracker. "The COVID-19 outbreak is expected to stress the short-term scenario, with smartphone shipments declining 10.6% year over year in the first half of 2020. Global smartphone shipments are expected to return to growth in 2021 driven by accelerated 5G efforts and the arrival of more affordable 5G handsets in various markets."
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