[prweb] Consumers' desire to stay entertained and be constantly informed is propelling smartphones to new levels. The market for smartphones posts sanguine growth patterns for the upcoming years, backed largely by the wide availability, greater affordability, and higher data attachment rates for smartphones than conventional handsets. Relative resilience of the Smartphones market to economic cycles is higher than in comparison with other electronic gadgets, given its growing indispensability as a smart communication tool, and competitive prices. The propensity to spend on smartphones is not hugely impacted by a slowdown, rather consumer preferences during these periods tend to shift towards lower priced mass-market products.
Apple's iPhone 3G, launched in July 2007, was the major reason for smartphone record growth in 2007 and 2008. The industry has another coat of recession-proofing as its largest consumer base are typically young executives with high disposable incomes who regard mobile communication as an important part of their lives. Smartphone vendors are also catching-up in the App department, which has not only turned out to be a key revenue generator for vendors and their wireless carrier partners but also a decisive factor in consumers' buying decisions. The demand for smartphones from wireless carriers has increased tremendously since 2007, as smartphones are easy way to increase ARPU (Additional Revenue Per User) and revenue by means of data plans. Benefiting from significant investments both in terms of product innovation and marketing, worldwide market for smartphones has emerged into a lucrative industry churning out top dollars for market participants.
Until recently, Japan and other developing nations have witnessed some truly remarkable sales for smartphones category. India and China saw increased mobile adoption, particularly Nokia N-Series devices, due to strong brand reputation, and distribution network. However, harsh economic environment in developing nations shifted the momentum of the industry from the Asia to North America and Western Europe. Mobile operators are targeting smartphone users in developed nations with heavy subsidies, more-sophisticated mobile games, and even differentiated service offerings in order to increase usage.
World market for smartphones is dominated by the US and Europe, as stated by the new market research report on smartphones. Symbian and Research in Motion are the most used operating systems for smartphones.
Contrary to the forecasts of certain industry gurus, smartphones will not take over the mobile phone market. Growth in smartphones market will likely moderate despite the launch of compelling new smartphones. Price continues to be the center of attraction for many players, as competitors aggressively slash prices and lower their product margins to maintain or gain market share. The industry is also characterized by constant product introductions, evolving technologies and design approaches, short product life cycles, aggressive pricing practices, rapid imitation of product and technological advancements, and price sensitivity of consumers.
Key players dominating the global smartphones market include Apple Inc, High Tech Computer Corporation, Motorola Inc, Nokia Corporation, Palm Inc, Research In Motion Limited, and Samsung Electronics Co Ltd, among others.
Global Smartphones Market to Reach 804.42 Million Units by 2015, According to New Report by Global Industry Analysts