Smart phones have undoubtedly been the biggest discovery of the communication industry, or are they? Well, this has to be true at least until the next big thing comes in to the market. Mobile phone industry; precisely the shipment growth of the smart phones has exploded big time after their successful marketing traits. Presently, phones known as Smart phones are not just utilized for verbal communication purpose but for anything and everything that is technically possible. The range of activities that are doable using a smart phone amazes its users to the peak. Activities right from photography, editing a document and connecting to the online world are now possible just by scrolling the screen of your smart phone.
It is thus simple to understand that the numbers would be high and pumping up further when it comes to the growth of this industry. Speaking of the global market for smart phones, the sales are rocketing sky high and the competition among the companies is getting tighter. 2013 is the annual year which witnessed a worldwide smart phone shipment of one billion units, making it a benchmark year for the industry. The market is estimated to touch and well cross US $ 150 billion mark by 2014 end. This has indeed been a double bonus for the players who now eye bulk profits in the quarters to come. The smart phone market which already eats up a good 14% of the mobile phone market is expected to reach unpredictable numbers. The avid developments like personal and/professional data management, fruition of 3G, 4G technologies and many other novelties in the smart phones are spotted as the reasons for the positive change.
The global smart phone device market is further segmented into consumer smart phones and professional smart phones. The consumer smart phone type has seen a brisk increase in sales and comprises of 3/4th of the global smart phone revenues. The same are again divided into the touch screen and keypad input types, here the touch screen application is a favorite among users; it represents around 39.6% of the total shipment and its counterpart fetches a 31.2% share. The professional smart phones were slow to pick up initially but they are expected to catch up with the numbers as there is an increased industrial mobilization. Each segment of the market is calculated according to four main geographical areas which are Europe, North America, Asia-Pacific and the Rest of World also known as ROW.
As per the 2009 figures, Europe stands as the leading region with a stake of 37.2% share of the entire business, the Asia-Pacific region is closing in as China and India are two major hubs for the mobile industry in the region. The Asia-Pacific smart phone market grossed US$ 17.1 billion in the year 2009 and crossed US $ 45 billion mark in 2014 thus growing at a CAGR of 18.6% during the five year span. In the face of global economic slowdown the smart phone industry was among the countable ones which weren’t affected in a negative way. The market in fact grew at a rate of 12.8% in 2008-2009.
Therefore, after going through the numbers above; one must easily be convinced that the global smart phone market is boon for the communication industry and is in a good health as ever. No wonder the sector is estimated to achieve a CAGR of 22.1% between years 2009 to 2014.