According to the International Data Corporation (IDC) Worldwide Quarterly Mobile Phone Tracker, smartphone shipments are forecast to grow 13.9% year over year in the first quarter of 2021 and 5.5% for the full year 2021. 5G remains the driving factor in the industry, accelerated further by the success of Apple’s full 5G iPhone 12 line-up, according to the research group.
IDC expects 5G smartphone shipments to account for more than 40% of global volume in 2021 and grow to 69% in 2025. Both factors have helped to increase the overall average selling price (ASP) for smartphones to $363 in 2021, up from $349 in IDC’s previous forecast.
The research group says smartphone growth will be driven by continued recovery in demand and a supply-side push of 5G devices. The research group expects the global smartphone market to deliver a compound annual growth rate (CAGR) of 3.6% over the 2020-2025 forecast period.