TECH SUPPLIER Mar 2020 - Market Forecast - Doc # US46135620
Worldwide Smartphone Forecast, 2020–2024
This IDC study presents the updated five-year forecast for smartphone shipments worldwide by operating system. The worldwide smartphone market will reach a total of 1.34 billion units shipped in 2020, down 2.3% from the 1.37 billion units shipped in 2019. From there, shipments will reach 1.51 billion units in 2024, the final year of our forecast period, resulting in a CAGR of 2.0%.
"The impact of COVID-19 on the supply chain has forced us to lower our 1H20 shipment numbers compared with our previous forecast," said Anthony Scarsella, research manager with IDC's Worldwide Quarterly Mobile Phone Tracker. "Logistics, labor, and transportation will likely remain impacted by the virus for additional weeks, if not months. Consequently, COVID-19 has already begun to shape the smartphone market as the first half shipments will demonstrate a large decline and then attempt to rebuild in 2H20, assuming the virus can be controlled."
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