News Article
Global smartphone market expected to grow 55% in 2011
The smartphone market is expected to grow more than four times the rate of the overall mobile phone market in 2011 and shipments of smartphones should approach one billion in 2015.
The worldwide smartphone market is forecast to grow 55% year over year in 2011 as a growing number of users turn in their feature phones for more advanced devices.
According to the International Data Corporation (IDC) Worldwide Quarterly Mobile Phone Tracker, vendors will ship a total of 472 million smartphones in 2011 compared to roughly 305 million units shipped in 2010. That figure will nearly double to 982 million by the end of 2015.
The fast-growing smartphone market, which will grow more than four times the rate of the overall mobile phone market this year, is being fuelled by falling average selling prices, increased phone functionality, and lower-cost data plans among other factors, which make the devices more accessible to a wider range of users.
"The smartphone floodgates are open wide," said Kevin Restivo, senior research analyst with IDC's Worldwide Quarterly Mobile Phone Tracker. "Mobile phone users around the world are turning in their 'talk-and-text' devices for smartphones as these devices allow users to perform daily tasks like shopping and banking from anywhere. The growth trend is particularly pronounced in emerging markets where adoption is still in its early days. As a result, the growth in regions such as Asia/Pacific and Latin America, will be dramatic over the coming years."
