Smartphone shipments to rise strongly in 2024, says IDC

Market news | June 14, 2024

By Peter Clarke

Smartphone market research

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After smartphone shipments declined in 2023 they are expected to grow 4.0 percent year-on-year in 2024 to 1.21 billion units, according to market research firm IDC.

The market analyst said that the growth in 2024 adds that this adds momentum to an overall recovery in consumer demand after a few dismal years post covid. The recovery will continue in 2025 with shipments set to rise 2.3 percent and a five-year compound annual growth rate of 2.3 percent.

The majority of the growth will be driven by Android sales, which is expected to grow at 4.8 percent compared to the 0.7 percent growth for Apple iPhones, according to Nabila Popal, a research director at IDC.

Global Android and iOS smartphone shipments 2022 to 2028 . Source: IDC.

“The rapid growth of Android is coming off a tough two years, while iOS’s softer growth is due to a strong 2023 and increasing competition in China that is denting its growth potential. However, if Apple makes a strong move around its AI strategy for iPhones, demonstrating clear use cases, it could accelerate the growth for Apple and revamp demand for iPhones, especially in China,” Popal said in a statement.

Anthony Scarsella, a research director at IDC, said: “5G-powered smartphones continue to fuel the market as these devices will display nearly 16 percent growth in 2024 as adoption continues to expand across all regions and markets.”

He added: “With 5G saturation in most developed markets, the growth of 5G in emerging markets will play a central role in driving shipments throughout the forecast period. While the overall smartphone market will have a 2.3 percent CAGR from 2024-2028, 5G shipments will deliver an impressive 9.1 percent growth rate for the same time period.”