After facing a record low year-over-year growth of 2.5% in 2016, IDC is predicting a rebound in smartphone sales with 3.8% expected growth for the next five years. In 2017, the growth will be 4.2%.
The smartphone market has seen stagnation over the past couple of years with lower growth compared to previous years. However, 2017 may be the year when it recovers from its slump if IDC is to be believed.
According to the firm, the market is expected to grow 4.2% in 2017 as opposed to a measly 2.5% in 2016, the lowest ever. The market intelligence company also forecasted a five-year growth period ending 2021 with a compound annual growth rate (CAGR) of 3.8% over the 2016-2021 forecast. Shipments are projected to reach 1.53 billion units in 2017 and grow to 1.77 billion in 2021.
Ryan Reith , program vice president with IDC’s Worldwide Quarterly Mobile Device Trackers pointed to a trend shift in low-cost markets as the reason, saying:
A research manager with the company, Anthony Scarsella, indicated a growth in the phablet market which he said are «expected to reach just under 680 million units by 2021, resulting in a compound annual growth rate of 9.
