Strong demand for smartphones across all geographies will drive the global mobile phone market - forecast to grow 7.3% year-on-year in 2013, picking up the previously flat growth of 1.2% experienced last year.
This is according to the International Data Corporation's (IDC's) latest Worldwide Quarterly Mobile Phone Tracker Report, which predicts smartphone shipments will exceed one billion units for the first time in a single year.
The sub-$200 smartphone segment in emerging markets has contributed significantly to the overall mobile phone market, which is growing faster than previously forecast, according to the IDC report. Retailers are forecast to ship more than 1.8 billion phones this year - growing to more than 2.3 billion in 2017.
Year-on-year smartphone shipments are predicted to grow 40% ? partly the result of carrier subsidies on low-cost smartphones.
Ramon Llamas, research manager with IDC's mobile phone team, says the spurt bears testament to the ubiquity smartphones have achieved. "Two years ago, the worldwide smartphone market flirted with shipping half a billion units for the first time - in just two years this became double that."
He says the smartphone has gone from being a "cutting-edge communications tool" to becoming an essential component in the everyday lives of billions. "Smartphones will represent virtually all of the mobile phone market in many of the world's most developed economies by the end of 2017.
"Aggressive carrier subsidies of handsets, falling prices, higher consumer awareness, and a vast array of devices will mean almost all phones shipped to the developed world will be 'smart'. However, smartphone shipment volume will be dominated by emerging markets, such as China, even though the percentage of smartphones to feature phones won't be as high."
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