Amid the COVID-19 crisis and the looming economic recession, the Smartphones market worldwide will grow by a projected 108.5 Million Units, during the analysis periodNEW YORK, May 27, 2020 — Amid the COVID-19 crisis and the looming economic recession, the Smartphones market worldwide will grow by a projected 108.5 Million Units, during the analysis period, driven by a revised compounded annual growth rate (CAGR) of 1%. Android, one of the segments analyzed and sized in this study, is forecast to grow at over 1.1% and reach a market size of 1.3 Billion Units by the end of the analysis period. An unusual period in history, the coronavirus pandemic has unleashed a series of unprecedented events affecting every industry. The Android market will be reset to a new normal which going forwards in a post COVID-19 era will be continuously redefined and redesigned. Staying on top of trends and accurate analysis is paramount now more than ever to manage uncertainty, change and continuously adapt to new and evolving market conditions.
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As part of the new emerging geographic scenario, the United States is forecast to readjust to a 0.3% CAGR. Within Europe, the region worst hit by the pandemic, Germany will add over 229 Thousand Units to the region’s size over the next 7 to 8 years. In addition, over 1.6 Million Units worth of projected demand in the region will come from Rest of European markets. In Japan, the Android segment will reach a market size of 83.5 Million Units by the close of the analysis period. Blamed for the pandemic, significant political and economic challenges confront China. Amid the growing push for decoupling and economic distancing, the changing relationship between China and the rest of the world will influence competition and opportunities in the Smartphones market. Against this backdrop and the changing geopolitical, business and consumer sentiments, the world’s second largest economy will grow at 2.3% over the next couple of years and add approximately 41.4 Million Units in terms of addressable market opportunity. Continuous monitoring for emerging signs of a possible new world order post-COVID-19 crisis is a must for aspiring businesses and their astute leaders seeking to find success in the now changing Smartphones market landscape. All research viewpoints presented are based on validated engagements from influencers in the market, whose opinions supersede all other research methodologies.
Competitors identified in this market include, among others, Apple, Inc.; ASUSTeK Computer, Inc.; Celkon Impex Pvt., Ltd.; Cosmic Technologies, Inc.
Cherry Mobile; Digicel Group; Fujitsu Mobile Communications Limited; Gionee Communication Equipment Co., Ltd.; Google LLC; HTC Corporation; Huawei Technologies Co., Ltd.; Intex Technologies (India) Ltd.; Karbonn Mobiles; Kyocera Communications, Inc.; Lava International Ltd.; Lenovo Group Ltd.; LG Electronics, Inc.; Micromax Informatics Ltd.; Motorola Mobility LLC; Olive Telecom; OnePlus; Oppo Electronics Corporation; Orange SA; Panasonic Corporation; Samsung Electronics Co., Ltd.; Sony Mobile Communications, Inc.; Spice Mobility Ltd.; TCL Corporation; Vodafone Group PLC; Xiaomi (Mi Global); ZTE Corporation
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