Highlights: Global smartphone market continues to decline in 2019 for third consecutive year: IDC. The smartphone volumes are forecast to ...
Highlights: Global smartphone market continues to decline in 2019 for third consecutive year: IDC. The smartphone volumes are forecast to fall by 0.8% this year with units dipping to 1.39 billion. However, smartphone market is expected to see growth on year-over-year basis The global smartphone market is expected to face its third consecutive year of declining shipments in 2019, with the volumes expected to fall by 0.8 percent this year, International Data Corporation (IDC) has said. The market research firm says that with the fall in shipments, smartphone shipments will dip to 1.39 billion units. However, the market will begin to pick up momentum this year with year-over-year growth of 2.3 percent in the second half. According to the IDC Worldwide Quarterly Mobile Phone Tracker, over the long term, smartphone shipments are forecasted to reach 1.54 billion units in 2023. Ryan Reith, Program Vice President with IDC's Worldwide Mobile Device Trackers, says that currently, the biggest question that remains unanswered is what will bring the smartphone industry back to growth. “There is no question industry growth has been down for reasons that have already been identified – longer replacement cycles, a challenged China market, and geopolitical headwinds – but it is shortsighted to overlook the possibilities of some important technology advancements that are within reach with 5G probably being the most significant,” Reith noted. Foldable phones and 5G are the buzzword for the year 2019, and IDC says that the current year is expected to witness a new high for technological innovation with the introduction of the new tech. “Marketing buzz around 5G is in its early stages but expected to ramp up quickly. And while use cases for upgrading to a 5G device/service remain unclear, it is evident that after 2019 the adoption will begin to attain significant numbers,” the firm says. IDC expects that 5G smartphone shipments will account for roughly 1 out of every 4 smartphones shipped globally in 2023. “Though the 5G developments and foldable screen buzz is yet to have a reality check from users, 2019 will be surely marked as a year of modernization in the smartphone market,” said Sangeetika Srivastava, Senior Research Analyst with IDC's Worldwide Mobile Device Trackers. In its latest Worldwide Quarterly Mobile Phone Tracker, IDC claimed that 2018 was the worst year ever for smartphone shipments globally as smartphone vendors shipped a total of 1.4 billion units in the full year, which is down 4.9 percent year-over-year (YoY). The market research firm said that in the fourth quarter of 2018, 375.4 million units were shipped, which was also down 4.9 percent YoY. At that time, Reith said that the holiday quarter of 2018 (the fourth quarter of the year) closed out the worst year ever for smartphone shipments. He predicted that the challenging market conditions would into the first quarter of 2019. It is already March and with a negative forecast of the smartphone shipments in the year, the likelihood of a declining market this year seems to be becoming more of a reality. Related Read: Xiaomi gets largest market share in India, exits 2018 with highest ever shipments: IDC
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