TECH SUPPLIER Jun 2020 - Market Forecast - Doc # US46551220

Worldwide Mobile Phone Forecast Update, 2020–2024: June 2020

By: Anthony ScarsellaResearch Director, Mobile Phones, William Stofega

Abstract

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 1,517.2 million unit shipments in 2020, down 15.5% from the 1,794.7 million units shipped in 2019. From there, total mobile phone shipments will dip to 1,692.3 million units worldwide by 2024, resulting in a CAGR of -1.2% from 2019 to 2024.

"The global smartphone will continue to be negatively impacted in 2020 as uncertainties around COVID-19 continue to weaken demand in most major markets," said Anthony Scarsella, research manager with IDC's Worldwide Quarterly Mobile Phone Tracker. "The COVID-19 outbreak is expected to further decrease mobile phone shipments than previously forecast declining 15.5% year over year by the end of 2020. We expect 5G to be the prime catalyst of growth in 2021 (8.4%) and beyond as the market is expected to grow throughout the remainder of the forecast period."


Coverage

Subscriptions Covered

Mobile Phones


Regions Covered

Worldwide


Topics Covered

Air interface, Feature phone, Smartphone


Content


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