Global Phablets and Superphones Market is Expected to Reach USD 116.4 Billion by 2018
Albany, New York, USA (PRWEB) September 15, 2014
According to a new market report published by Transparency Market Research "Phablets and Superphones Market - Global Industry Analysis, Size, Share, Growth and Forecast, 2012 - 2018," the global phablets and superphones market is expected to reach USD 116.4 billion by 2018, growing at a CAGR of 44.1% from 2012 to 2018. The shipments of superphones and phablets are expected to grow at a CAGR of 25.8% from 2012 to 2018, and reach 825.0 million units by 2018.
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North America has been leading the global market in terms of volume as well as revenue, due to the increasing penetration of smartphones in the region. However, Asia Pacific is expected to be the largest and fastest growing market for phablets and superphones by 2018 in terms of volume sales and revenue. This is a result of the expected catapulting demand for phablets and superphones, especially in China, India, and Korea.
Phablets are smartphones with powerful processors of 1 GHz and above and screen size ranging between five inches and seven inches. They combine the features of smartphones and tablet PCs, and are the best choice for consumers who cannot afford both these devices at the same time. Smaller size of phablets as compared to tablet PCs makes it easier for users to carry them wherever they go.
A phablet has all the features of a tablet PC such as touchscreen, mobile operating system, customized apps, integrated camera, and virtual keyboard among others. Superphones feature powerful processor of 1 GHz and above and have screen size ranging between four inches and five inches. Phablets and superphones are becoming rapidly popular due to their larger screen size and improved display quality. The global market for phablets and superphones, in terms of volume sales, is expected to grow at a compounded annual growth rate of 25.8% from 2012 to 2018.
The trends in the mobile industry are changing continuously. Starting from the brick-sized cell phones in the late eighties, the design of mobile phones has changed significantly with increasing features being incorporated in a single device. Today’s cell phones are far more than just a communication device. Features such as 3G connectivity, social media, games, music, graphics, and other applications have made mobile phones more popular among the youth.
Continuous technological developments in cell phones in terms of processor speed, high resolution displays, and larger batteries have been driving the market. Smartphone is the term used for a mobile phone that uses an operating system with advanced connectivity and capability better than a feature phone. The operating systems used by smartphones include Symbian, Android, iOS, BlackBerry, Bada, Microsoft Windows, webOS, and embedded Linux among others. These platforms can be installed on different mobile phones and a device can receive multiple software updates over its lifetime.
Smartphones have screen sizes ranging between 2.8 inches to 3.5 inches. It is fairly difficult to navigate documents, web pages, etc. on such a small screen using touch interface. Increase in web browsing due to 3G and 4G networks and growing media consumption makes larger displays more desirable. Tablets have displays sizes ranging anywhere between seven inches and ten inches. However, it is not feasible to carry a mobile phone as well as tablet. This gave rise to the invention of phablets and superphones.
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Android operating system currently dominates the global phablets and superphones market contributing to a share of around 82% and 87% respectively. North America was the largest market for phablets and superphones, in terms of volume sales.
Asia Pacific is the fastest growing market, expected to surpass North America by 2015, in terms of volume sales. Samsung is the leader in global phablets and superphones manufacturing with Samsung Galaxy S series superphones and Galaxy Note and Note II phablets dominating the global market. Apart from Samsung, LG, HTC, and ZTE are the popular manufacturers for phablets and superphones.