target audience: TECH SUPPLIER Publication date: Mar 2024 - Document type: Market Forecast - Doc Document number: # US51909324
Worldwide Mobile Phone Forecast, 2024–2028
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Abstract
This IDC study presents the five-year forecast for mobile phone shipments worldwide by device type. The worldwide mobile phone market will reach 1,393.2 million units shipped in 2024, up 1% from the 1,380.1 million units shipped in 2023. From there, total mobile phone shipments will grow to 1,437.8 million units worldwide by 2028, resulting in a CAGR of 0.8% for 2023-2028.
"The market faced steep challenges in 2023 but remained resilient in the holiday quarter, as 2024 is forecast to bring near 3% growth to the smartphone market," said Anthony Scarsella, research director with IDC's Worldwide Quarterly Mobile Phone Tracker. "Although many of the same macroeconomic challenges will remain in 2024, replacement cycle refreshes and demand in many emerging markets will help drive the growth throughout the year. Moreover, the growth of 5G continues to push smartphone users to upgrade as entry-level 5G devices become more affordable for first-time buyers in many key markets. "