The exponential rise of smartphones has led the demand in the global smartphone industry. Product enhancement and adoption of advanced technologies are key strategies implemented by most of the players.
According to TRM (www.transparencymarketresearch.com), top-notch vendors are establishing a strategic alliance to increase their customer base and get a firm hold in the market. Product innovation, the addition of new features, and pricing strategy are some of the key focus areas of the leading players, adds the research group. With minute yet path-breaking changes, the global smartphone market is expected to witness high growth in the coming years.
Introduction of new products and technological advancements are key contributors that might take up the value in the smartphone market to $1,503.2 billion by the end of 2026, predicts TRM. It’s been estimated that the global smartphone market might progress at a staggering 19.0% compound annual growth rate during the course of eight years from 2018 to 2026.