Cellular Telephones Global Market Report 2024

The cellular telephones market size has grown strongly in recent years. It will grow from $419.79 billion in 2023 to $453.05 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth observed during the historical period can be attributed to factors such as the rising consumer demand, the expansion of global connectivity, and the proliferation of mobile apps and ecosystems.

The cellular telephones market size is expected to see strong growth in the next few years. It will grow to $648.43 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. The anticipated growth in the forecast period can be attributed to factors such as the adoption of 5G technology, the Internet of Things (IoT), emerging markets, the increasing prevalence of remote work and digital transformation, and growing environmental concerns. Key trends expected in the forecast period encompass the development of foldable and flexible displays, the integration of augmented and virtual reality technologies, advancements in AI and machine learning, and a heightened focus on security and privacy.

The cellular telephones market is experiencing growth driven by an increase in disposable income. With rising incomes, cellular phones have become a household necessity due to their numerous benefits, including connectivity, productivity applications, entertainment, and education. The increased affordability, coupled with higher disposable income, has empowered individuals to purchase smartphones. For example, data from TRADING ECONOMICS reveals that in the United States, disposable personal income increased from $18,700.30 in August to $18,771.60 in September 2022, reflecting the positive impact of increased disposable income on the cellular telephones market.

The primary product categories of cellular telephones consist of smartphones and feature phones. Smartphones are advanced cellular devices with enhanced functionalities akin to computers, featuring touchscreen interfaces, internet access, and operating systems. Cellular telephones cater to diverse age groups, including those aged 18 years and older, 18-45 years old, 45-60 years old, and individuals above 60 years old. These devices are distributed through original equipment manufacturers (OEMs), retailers, and e-commerce channels.

The cellular telephones market research report is one of a series of new reports that provides cellular telephones market statistics, including cellular telephones industry global market size, regional shares, competitors with a cellular telephones market share, detailed cellular telephones market segments, market trends and opportunities, and any further data you may need to thrive in the cellular telephones industry. These cellular telephones market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The cellular telephone market is expected to benefit from the growth in mobile connections. This growth pertains to the number of active SIM cards or phone lines that access cellular networks for voice calls, texting, and data services. Cellular telephones enable users to establish mobile connections, facilitating communication and data access. In February 2023, Uswitch Limited reported that the UK witnessed 71.8 million mobile connections in 2022, a 3.8% increase compared to the previous year. This surge in mobile connections is a driving force behind the cellular telephone market.

Market uncertainty resulting from government stability and policies can impact the import of raw materials essential for manufacturing cellular phones, thereby having a negative influence on the market. Government policy uncertainties stemming from trade agreement cancellations may prompt companies to reduce import volumes to control costs or raise prices for finished products due to increased expenses. For example, the USA's withdrawal from the Trans-Pacific Partnership (TPP) trade deal and the imposition of $250 billion in tariffs on imported Chinese products by the US government indirectly affected consumers and households, hindering the growth of the cellular telephones market.

Companies in the cellular telephones market are introducing technological advancements in processors to enhance the customer experience. Smartphones are now equipped with 7nm (nanometer) processors that offer increased speed, improved power efficiency, and support for 5G technology. In 2021, Samsung introduced its Galaxy F62 smartphones featuring 7nm Exynos 9825 processors to deliver fast performance and power efficiency, catering to the preferences of young consumers.

Major companies operating in the cellular telephones market are launching affordable devices, like the Jio Bharat cell phone, to accelerate digital transformation and provide high-speed internet access to a wider population. The Jio Bharat cell phone is a feature phone designed to grant users access to the 4G network. For instance, in July 2023, Reliance Jio, an India-based telecommunications company, introduced the Jio Bharat device, an affordable feature phone aimed at expanding access to the superior Jio 4G network, aligning with their '2G Mukt Bharat' vision, and making quality network services more accessible to a broader audience.

Major companies operating in the cellular telephones market include Samsung Electronics Co. Ltd., Apple, Huawei, LG Electronics, Lenovo, Xiaomi, OPPO, Vivo, Motorola Mobility Holdings Inc., TCL Corporation, Research In Motion Limited, Sony Mobile Communications Inc., ZTE Corporation, Nokia, HTC Corporation, Others, Xiaomi, Gionee, LeEco/Coolpad, Micromax Informatics Ltd., Ericsson

Asia-Pacific was the largest region in the cellular telephones market in 2023. Western Europe was the second largest region in the cellular telephones market. The regions covered in the cellular telephones market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the cellular telephones market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada

The cellular telephones market consists of sales of equipment such as cellular telephones, which use radio waves over a networked area (cells) and is served through a cell site or base station at a fixed location, enabling calls to transmit wirelessly over a wide range, to a fixed landline or via the internet. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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