TECH SUPPLIER Dec 2019 - Market Forecast - Doc # US45708719
Worldwide Mobile Phone Forecast Update, 2019–2023: December 2019
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 1,798.1 million unit shipments in 2019, down 4.9% from the 1,891.2 million units shipped in 2018. From there, total mobile phone shipments will dip to 1,729.5 million units worldwide by 2023, resulting in a CAGR of -1.8% from 2018 to 2023.
"Despite the continued decline in the overall mobile phone market, the uptick in smartphone shipments in the third quarter along with the projected smartphone growth starting next year is a positive sign for the market," said Anthony Scarsella, research manager with IDC's Worldwide Quarterly Mobile Phone Tracker. "The arrival of more affordable 5G handsets and services could be the answer to spark growth in many developed markets where the refresh cycle has remained stagnant. New affordable 5G chipsets will allow major brands to offer midtier devices that feature premium designs, 5G connectivity, and more affordable price points compared with the standard ultrahigh-end flagships that we typically see come launch time."
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