TECH SUPPLIER Jun 2020 - Market Forecast - Doc # US46555420
Worldwide Smartphone Forecast Update, 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 1.21 billion units shipped in 2020, down 11.9% from the 1.37 billion units shipped in 2019. From there, shipments will reach 1.48 billion units in 2024, the final year of our forecast period, resulting in a CAGR of 1.5%.
"The negative impact on the smartphone market due to the COVID-19 pandemic has IDC further decreasing our smartphone forecast due to both supply chain issues and more importantly weakened demand in key markets," said Anthony Scarsella, research manager with IDC's Worldwide Quarterly Mobile Phone Tracker. "As consumers focus more on health and combating this pandemic in the coming months, interest has shifted away from their next smartphone purchase and more toward essential goods in the near term. Moreover, an increase in consumer spend around both work from home and education (remote learning) heading into the fall will also harm refresh rates in many markets heading into the holiday season."
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