Smartphone shipment volume to double by 2017, says IHS
Smartphone shipments are forecast by IHS to reach 1.5 billion units in 2017, up from 712 million units in 2012, a doubling of smartphone shipments.
Smartphone shipments are expected to total 897 units this year and expand at a 15.8 percent compound annual growth rate through 2017, according to IHS.
"The volume of new flagship smartphone releases from top original equipment manufacturers this year has been astounding. These include the new BlackBerry Z10, the aluminum uni-body HTC One, and an update to the Samsung Galaxy S4 featuring a full HD 5-inch active matrix organic light emitting diode display," enthused Wayne Lam, senior analyst for consumer and communications at IHS.
"The possible slowing growth of the iPhone and the rapid pace of competitive smartphones releases speak to the ferocious nature of the handset business, especially now as the market continues to pivot from a market dominated by lower-end handsets known as feature phones to one that is increasingly smartphone-centric," Lam added.
Innovation in smartphone design will become necessary for manufacturers as consumers demand more immersive user experiences and visual content. Competitive forces will place pressures on Apple and other manufacturers, forcing players to innovate and diversify smartphone offerings in order to continue growing, according to IHS.
Research firm IDC agrees with IHS about the smartphone shipment growth, projecting a 16 percent CAGR over the next five years.
TechNavio is more conservative in its forecast. The research firm expects the smartphone market to grow at a 10 percent CAGR through 2016. TechNavio agrees with IHS that rapid technology advances of smartphones will fuel smartphone growth.
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