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Superphones Market size is projected to witness lucrative growth rate during the forecast period i.e., between 2024-2036.
Growth Drivers
An increasing need for high-end cameras and growing digital consumption amongst the youth
Constant innovation in every industry is producing mega results. In no time, smartphones penetrated almost into every household and so will superphones, although it will take time. Further, the ease of internet availability is supporting every sector in its way, and it makes buying a superphone more tempting as it comes with bonus features.
It has been notified that these days the advanced features in superphones and smartphones make it more compatible with photography than a bulky DSLR. Photography has been a major boost for mobile phone growth, globally. With a growing tech-savvy populace around the world, people want to consume data via advanced systems.
Furthermore, the presence of several companies into this market, online shopping, growing expenditure on a variety of gadgets, budding awareness about superphones, a rise in disposable income, and increasing commercialization of these devices are estimated to drive the market during the forecast period.
Challenges
However, high costs and complex processes are obstructing the market growth at the global level. Superphones are far from substituting personal computers across offices, research centers, and space institutes, and this factor could be a challenge for the players operating in the global superphones market.
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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Regional Scope |
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The superphones market is segmented by the operating system, distribution channel, and region. Among operating systems, the android segment is expected to lead the global market of superphones over the forecast period owing to easy accessibility and a great user interface. Among distribution channels, the offline segment is projected to hold the major market share. Growing penetration of hypermarkets and supermarkets has supported the offline selling segment around the sphere. The brick and mortar store intends personal service, easy returns, and physical verification of products to the consumers before buying anything. The online segment is expected to grow at a fast pace owing to the convenience it offers to the buyers. There are many customer reviews on e-commerce platforms that assist the buyer to make good choices and helps in choosing the best superphones amongst wide varieties present on the platforms.
Our in-depth analysis of the global market includes the following segments
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By Operating System |
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By Application |
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By Distribution Channel
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Geographically, the global superphones market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.
North America industry is likely to account for largest revenue share by 2036, attributed to prevalence of tech-savvy population, high spending on gadgets, rapid expansion of online retailing in the region, and easy accessibility to the latest innovations in the specialized and online stores.
The European region is anticipated to hold the second-largest market share in the superphones market. Spreading out of e-commerce, rising expenditure power, budding population, presence of key market players, and rising awareness are the elements that have accelerated the growth of the market growth in this region.
Asia-Pacific is estimated to grow at the fastest rate during the forecast period. Factors such as the fast adaptation of technology among the consumers, along with the rising purchasing power of the customers, growing population, have been fueling the demand for the superphones in this region. Also, the presence of leading players such as Samsung Electronics Co. Ltd., Sony Corporation, Motorola, Inc. and ASUS, Inc. in the region is contributing significantly towards the region’s growth. Moreover, the growing investments in research and development activities for the introduction of innovative feature smartphones are projected to accelerate the growth of this region in the coming years
Evolving nations, such as China, India, Brazil, South Africa, and Thailand are significant markets with huge opportunities for the global superphones market.
May 28, 2020: Samsung for its Galaxy devices, has developed accessibility features for empowering individuals with visual impairments. It’s called “Bixby Vision”, and it will give more access to the user through sensing more information about their surroundings by using a smartphone’s camera. The Bixby vision describer will tell you about your surrounding in real-time by saying it, along with more amazing features.
May 14, 2020: Sony Incorporation announced that they are going to release the world’s first models of intelligent vision sensors, the foremost image sensors to be equipped with AI processing functionality. At Sony, they feel that products of these kinds can magnify the opportunities to develop AI-equipped cameras, which will enable a diverse range of applications in the retail and industrial equipment industries and contribute to building optimal systems that can be linked with the cloud.
Author Credits: Abhishek Verma
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