Worldwide Mobile Phone Forecast Update, 2020–2024: June 2020

Worldwide Mobile Phone Forecast Update, 2020–2024: June 2020

This IDC study presents the five-year forecast for mobile phone shipments worldwide by device type. The worldwide mobile phone market will reach a total of 1,517.2 million unit shipments in 2020, down 15.5% from the 1,794.7 million units shipped in 2019. From there, total mobile phone shipments will dip to 1,692.3 million units worldwide by 2024, resulting in a CAGR of -1.2% from 2019 to 2024. "The global smartphone will continue to be negatively impacted in 2020 as uncertainties around COVID-19 continue to weaken demand in most major markets," said Anthony Scarsella, research manager with IDC's Worldwide Quarterly Mobile Phone Tracker. "The COVID-19 outbreak is expected to further decrease mobile phone shipments than previously forecast declining 15.5% year over year by the end of 2020. We expect 5G to be the prime catalyst of growth in 2021 (8.4%) and beyond as the market is expected to grow throughout the remainder of the forecast period."

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