IDC: Smartphone Market Expands 23 Percent Year-Over-Year

IDC Smartphone Market Expands 23 Percent Year-Over-YearAccording to the latest global industry data available, the worldwide smartphone market grew 23.1% year over year in the second quarter of 2014.

The International Data Corporation (IDC) Worldwide Quarterly Mobile Phone Tracker indicates that the growth in question remains fueled by ongoing demand for mobile computing and the widespread availability of low-cost smartphones.

Second quarter shipments were in line with IDC’s forecast and all expectations are that the market will continue a similar pace in the second half of the year.

“A record second quarter proves that the smartphone market has plenty of opportunity and momentum,” said Ryan Reith, Program Director with IDC’s Worldwide Quarterly Mobile Phone Tracker. “Right now we have more than a dozen vendors that are capable of landing in the top 5 next quarter. A handful of these companies are currently operating in a single country, but no one should mistake that for complacency – they all recognize the opportunity that lies outside their home turf.”

Notwithstanding Samsung’s and Apple’s contributions, emerging markets supported by local vendors are continuing to act as the main catalyst for smartphone growth.

“As the death of the feature phone approaches more rapidly than before, it is the Chinese vendors that are ready to usher emerging market consumers into smartphones,” adds said Melissa Chau, Senior Research Manager with IDC’s Worldwide Quarterly Mobile Phone Tracker. “The offer of smartphones at a much better value than the top global players but with a stronger build quality and larger scale than local competitors gives these vendors a precarious competitive advantage.”