TECH SUPPLIER Dec 2020 - Market Forecast - Doc # US47090821

Worldwide Mobile Phone Forecast Update, 2020–2024: December 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 1,609.6 million unit shipments in 2020, down 10.4% from the 1,795.4 million units shipped in 2019. From there, total mobile phone shipments will dip to 1,670.3 million units worldwide by 2024, resulting in a CAGR of -1.4% from 2019 to 2024.

"New holiday deals proved to be more powerful than the ongoing pandemic as smartphone shipments increase yet again compared with what we previously predicted," said Anthony Scarsella, research manager, IDC's Worldwide Quarterly Mobile Phone Tracker. "Strong early demand for fourth-quarter flagships combined with robust trade-in offers has enticed consumers to take advantage of mouthwatering deals while they still exist. Events such as Black Friday, Cyber Monday, and Singles Day have acted as an upgrade catalyst for consumers to take advantage of healthy promotions and price drops over the last month."


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