TECH SUPPLIER Sep 2020 - Market Forecast - Doc # US46847820

Worldwide Mobile Phone Forecast Update, 2020–2024: September 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 1,548.0 million unit shipments in 2020, down 13.8% from the 1,795.4 million units shipped in 2019. From there, total mobile phone shipments will dip to 1,698.1 million units worldwide by 2024, resulting in a CAGR of -1.1% from 2019 to 2024.

"Despite the negative impact of COVID-19 felt across the phone industry in 2020, vendors and channel partners have learned new ways to attract buyers during this difficult time," said Anthony Scarsella, research manager with IDC's Worldwide Quarterly Mobile Phone Tracker. "The month of June showed a decent rebound in the second quarter, which saw increased consumer demand compared with the start of the quarter. New midmarket models lead the way from most significant vendors as trade-in deals and incentives further reduced the up-front cost to consumers. Moreover, online sales increased in many regions as retailers and telco heavily promoted their online channels as stores remain closed or restricted during the pandemic."


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