Global Smartphone Shipments Anticipated to Recover and Grow in 2024, According to Canalys Report

Positive Outlook Predicts a Surge in Global Smartphone Shipments

The ever-evolving tech landscape brings promising insights as the year progresses, with industry specialists projecting an uptick in global smartphone shipments. According to a recent forecast, the industry might witness a notable rebound. Specifically, regions such as Latin America are anticipated to grow by 2%, Africa by 3%, and the Middle East by a robust 9%. The overall shipments of smartphones across the globe could reach 1.13 billion units by the close of this year, even though this signifies a minor 5% dip when juxtaposed with last year's figures.

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Brighter Days Ahead for the Smartphone Market

Looking towards the horizon, the industry's pulse shows signs of strengthening with anticipated shipments jumping to 1.17 billion smartphones in 2024—a 4% annual increase. This growth momentum is driven by consumers' evolving tastes, as they are now open to investing upwards of £320 on average for enhanced smartphone experiences.

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The epicenter of this growth is predicted to be the Asia Pacific domain, which includes burgeoning markets like India and South Korea. Approximately 33% of all new smartphones are expected to make their way to this region in the year 2024. Such optimism is fueled by a resurgence in consumer confidence paired with a more favorable economic climate.

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Global smartphone shipment forecast and annual growth 2022-2024

Future Trends in Smartphone Adoption

Surge projections are favorable across all significant markets except North America, where the Asia Pacific, Middle East, and Africa regions could see a 6% increase, and Europe might witness a 7% rise in yearly growth for 2024. The sustained desire for innovative tech is likely to propel the market, with visions of touching a 1.25 billion shipment mark by 2027.

For further details on this optimistic forecast, you can visit the official Canalys announcement.

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