Smartphones Continue to Dominate the Market

According to Technavio, the global smartphone market size is estimated to grow by USD 99.8 million from 2025-2029, and the market is estimated to grow at a CAGR of over 4.1% during the forecast period. Growing adoption of AI in smartphones is driving the growth, says the firm, with a trend towards emergence of sensor fusion technology. 

Smartphones continue to dominate the market. Premium class phones with features like cloud storage, content subscription, and high-speed network access are in high demand, says the firm. Also, disposable cash is a key factor for mobile phone users looking for entertainment, networking, and improved telecom infrastructure.

5G gadgets, including 5G chips and 5G network technologies, are driving growth, says Technavio. Chipmakers and laboratories are engineering institutes' focus, developing applications for gaming consoles, laptops, tablets, and picture processing, and affordable handsets cater to budget-conscious consumers. In-app purchases and subscriptions to courses further enhance user experience, and high-speed data connectivity and integrated IoT applications complete the package.