Flagship Smartphone Market Revenue Growth Predicted by 2026
Flagship
smartphones have gained significant popularity over the past few years.
Companies are increasingly introducing high-end mobile phones and largely focus
on the sales & marketing of these phones to garner increased consumer
traction. Some of the popular product launch in 2017 include the Samsung Galaxy
S8, LG G6, HTC U11, OnePlus 5, Motorola Moto Z2 Force, Apple iPhone X, and Mi6.
The rapidly growing working population is increasingly inclined towards luxury
products such as flagship smartphones and are growingly tech savvy, in turn
fueling market growth.
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Growing emphasis on the internet penetration to boost the economic
growth is expected to drive the demand of the flagship smartphone
Proliferation of
IoT and increased demand of connectivity in every aspect, that include home
automation, security, automotive, work, factory has led significant change in
the lifestyle of the middle income group. Moreover, increased emphasis on the
development of high speed internet technology such as 4G and 5G technologies is
expected to drive the demand of advanced mobile phone having features such as
high processing capability, versatility, and durability. In addition, increased
emphasis on the introduction cutting edge features such as improved water resistance,
high resolution cameras, biometric identification, and gesture control among
others will present strong growth prospects for flagship smartphones market
over the forecast period.
Multi-channel retailing has added to the ease of availability of
flagship smartphones to the customers across the globe
Growth of
multiple retail channels include single brand, multi-brand stores, and
e-commerce across different regional segments have increased consumer access to
the newly launched smart gadgets. Moreover, growth of ecommerce business to
cater the international consumer base. In recent past, major smartphone
manufacturers have focused on teaming up with e-tailers, serving as exclusive
sales partners for their flagship devices. Players such as Xiaomi, Motorola,
and OnePlus have reaped rich dividends from such partnerships in the recent
past.
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Android OS is expected to hold the largest flagship smartphone
market share over the forecast period
Android provide
world-class platform to create applications and games for users that can be
virtually accessed from anywhere across the globe. This is primarily owing to
its open accessibility and all major manufacturers, with the exception of Apple
opting for this operating system for their flagship phones. Among the storage
types, expandable memory handsets are expected to gain edge over the internal
memory limitation. This is owing to the improvement in multi-aspects of the
smartphones, which include motion sensing, graphic resolutions, and increasing
consumers’ requirement for information storage. However, factors such as fast
processing, easy data accessibility, and protection from viruses that can be
transmitted through external device, are expected to drive the growth of the
flagship smartphone market. In addition, few major companies will continue to
provide inbuilt storage spaces to the consumers.
Key Players in the Global Flagship Smartphone Market
Chief industry
participants in the flagship smartphone market include Samsung Electronics Co.
Ltd., Apple Inc., Oppo, OnePlus and Mobitech Creations, Xiaomi, Huawei
Technologies Co. Ltd., LG Electronics Inc., Lenovo Group Limited, ZTE
Corporation, TCL Communication Technology Holdings Limited, and Vivo
Communication Technology Co. Ltd. Asia Pacific is expected to remain the
prominent focus of the players, owing to the largest middle income group and
the increasing penetration of mobile phones mainly in China, India, and ASEAN
countries.
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