The global smartphone installed base will grow from four billion in 2016 to more than six billion smartphones in use by 2020, according to new analysis released today by IHS Markit.
“Mobile innovations, new business models and mobile technologies are transforming every adjacent market as the mobile industry diversifies from the maturing smartphone market,” says Ian Fogg, director at the research group. “Revenues for smartphones shipped in 2020 will total $355 billion.”
Globally, smartphones and tablets already account for more than 60% of smart connected consumer devices – up from around 17% in 2008. Smartphones and tablets make up more than 80% of connected devices in Africa and the Middle East.
“Smart mobile devices will rapidly become universally adopted throughout the world, enabling innovative smart services, which will transform emerging economies,” Fogg says. “Mobile devices and services are now the hub for people’s entertainment and business lives, as well as for communication. The smartphone has replaced the personal computer as the most important smart connected device.”