What’s the Future of Global Smartphone Use? Compass Intelligence Has the Stats

Business graph - growth to skyWe believe an informed client is an empowered client. That’s why we’ve partnered with Compass Intelligence to bring you the latest news on the biggest industry trends.

Today’s topic: the growth of smartphone use. If you’re in the repair business, following the continued growth of mobile devices should be a priority. More mobile devices means more repair business. And more repair business naturally means more profits.

Business Is Good for the Smartphone Industry

Happily, smartphone use continues to grow. According to the latest Compass Intelligence report, the smartphone market in the United States has experience a growth rate of 20%. Apple and Samsung lead the pack, but other manufacturers of mobile devices are experiencing growth as well.

Most of this growth has been seen in the consumer market. What does this mean for your repair business? That the future of smartphone repair looks bright. As smartphone use has grown, studies show, so too does demand for repair services. This has everything to do with the cost-effective nature of smartphone repair, as well as the fact that the large amounts of data stored on smartphones prompts customers to seek repairs rather than a new device.

Global Growth Is Robust Too

The outlook is just as rosy for the global smartphone market. Check out these stats from Compass:

  •  Smartphone shipments for 2014 reached over 1.1 billion in total as high-growth markets are being targeted by handset makers.
  • China and other emerging markets are key drivers for growth; Apple especially reported strong growth in China.
  • Overall global sales of smartphones will remain positive over the forecast period.
  • Asia Pacific and Latin America combined will have a 26% growth rate.
  • Apple will have an increasingly market share until 2018 when it begins to gradually decline.

Who will replace Apple come 2018? For that important piece of information, you’ll have to check out the rest of the Compass Intelligence report.

Stay Ahead of the Trend with Compass Intelligence

There’s no better way to stay ahead of the latest trends than by reading the latest research. Interested in finding out more about how you can benefit from this lucrative and vibrant industry? Then download Compass Intelligence’s full Worldwide Smartphone Market: 5-Year Forecast 2014-2019 and US Smartphone Market: 5-Year Forecast, 2014-2019 reports.

They offer an in-depth look into the future of the industry, giving you an edge over the competition. And take a moment as well to check out the Bamboo Mobile blog for the latest news on device reuse and recycling, and to learn how you too can turn yesterday’s devices into today’s business opportunities.

Contact Kate Pearce at kpearce@compassintelligence.com for more information.

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Nima Jacob Nojoumi

Teen Entrepreneur. Former adviser @GoDaddy. Founder at House of Genius AZ @HofGAZ. Co-Founder & CEO @GetSourcely. Teamwork makes the dream work.