Smartphone Shipments Poised for Growth in 2024, Driven by GenAI Integration and Emerging Markets
BEIJING, August 30,2023 – The global smartphone market is expected to rebound in 2024, with shipments projected to reach 1.23billion units, representing a 5% year-over-year increase, according to market research firm Counterpoint Research. This growth would mark an end to twoconsecutive years of decline.
The positive outlook is attributed to a combination of factors, including the emergence of new smartphone users in developing markets and the increasing adoption of generative artificial intelligence (GenAI) features in high-end devices.
LizLee, Vice President at Counterpoint Research, highlighted the role of emerging markets in driving growth. In the long term, we expect more new smartphone users to enter the market, leading to steady growth in overall installed base, she said.While this will be driven by emerging markets like the Middle East and Africa (MEA), the Caribbean and Latin America (CALA), India, and Southeast Asia, we also expect growth in North America and even Europe, which is currently primarily a replacement market.
Mature markets like China, Japan, and South Korea arealso expected to contribute to growth, driven by the increasing demand for high-value smartphones.
The integration of GenAI features is expected to be a key driver of innovation and demand in the coming years. Counterpoint Research predicts that the share of smartphones with GenAI capabilities will increase from less than one-fifth in2024 to more than half by 2028.
Apple’s upcoming models featuring Apple Intelligence will drive the adoption of GenAI devices across the smartphone market, said Harmeet Singh Walia, Senior Analyst at Counterpoint Research. This could create an opportunity for Apple to potentially become thetop smartphone vendor by shipments as early as 2025.
The integration of GenAI is expected to bring significant advancements to smartphone functionalities, including:
- Enhanced image and video processing: GenAI can be used to improve image and video quality, enabling features like real-time object recognition, background removal, and advanced editing capabilities.
- Personalized user experiences: GenAI can personalize user interfaces, apps, and content recommendations based on individual preferences and usage patterns.
- Improved voice assistants: GenAI can enhance the capabilities of voice assistants, making them more natural and intuitive to interact with.
- Advancedsecurity features: GenAI can be used to develop more sophisticated security systems, including facial recognition, fraud detection, and malware prevention.
The increasing adoption of GenAI in smartphones is expected to transform the mobile landscape, offering users a more powerful, personalized, and secure experience. As the technology continues to evolve, we canexpect even more innovative and transformative applications in the years to come.
About Counterpoint Research:
Counterpoint Research is a global research firm specializing in technology products. It provides in-depth analysis of the smartphone market, including forecasts, trends, and competitive landscapes.
Disclaimer: This article is based on informationprovided by Counterpoint Research and other publicly available sources. It is intended for informational purposes only and does not constitute financial advice.
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