Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
IN THE NEWSMay 28, 2020: Samsung for its Galaxy devices, has developed accessibility features for empowering individuals with visual impairments. It’s called “Bixby Vision”, and it will give more access to the user through sensing more information about their surroundings by using a smartphone’s camera. The Bixby vision describer will tell you about your surrounding in real-time by saying it, along with more amazing features.
May 14, 2020: Sony Incorporation announced that they are going to release the world’s first models of intelligent vision sensors, the foremost image sensors to be equipped with AI processing functionality. At Sony, they feel that products of these kinds can magnify the opportunities to develop AI-equipped cameras, which will enable a diverse range of applications in the retail and industrial equipment industries and contribute to building optimal systems that can be linked with the cloud.
Superphones Market Overview
Superphones are advanced forms of smartphones that have a big display. These superphones have some added features along with prevailing features offered in available smartphones concerning design, processing capabilities, and others. They are distinguished from feature phones by their robust hardware capabilities and broad phone operating systems, which enables software, internet, and multimedia functionality, accompanied by core phone functions, such as voice calls and text, messaging.
Market Size and Forecast
The global superphones market is expected to observe an attainable high CAGR during the forecast period, i.e., 2020-2028. The market is segmented by the operating system, distribution channel, and region. Among operating systems, the android segment is expected to lead the global market of superphones over the forecast period owing to easy accessibility and a great user interface. Among distribution channels, the offline segment is projected to hold the major market share. Growing penetration of hypermarkets and supermarkets has supported the offline selling segment around the sphere. The brick and mortar store intends personal service, easy returns, and physical verification of products to the consumers before buying anything. The online segment is expected to grow at a fast pace owing to the convenience it offers to the buyers. There are many customer reviews on e-commerce platforms that assist the buyer to make good choices and helps in choosing the best superphones amongst wide varieties present on the platforms.
Growth Drivers
An increasing need for high-end cameras and growing digital consumption amongst the youth
Constant innovation in every industry is producing mega results. In no time, smartphones penetrated almost into every household and so will superphones, although it will take time. Further, the ease of internet availability is supporting every sector in its way, and it makes buying a superphone more tempting as it comes with bonus features.CLICK TO DOWNLOAD SAMPLE REPORT
It has been notified that these days the advanced features in superphones and smartphones make it more compatible with photography than a bulky DSLR. Photography has been a major boost for mobile phone growth, globally. With a growing tech-savvy populace around the world, people want to consume data via advanced systems.
Furthermore, the presence of several companies into this market, online shopping, growing expenditure on a variety of gadgets, budding awareness about superphones, a rise in disposable income, and increasing commercialization of these devices are estimated to drive the market during the forecast period.
Restraints
However, high costs and complex processes are obstructing the market growth at the global level. Superphones are far from substituting personal computers across offices, research centers, and space institutes, and this factor could be a challenge for the players operating in the global superphones market.
Market Segmentation
Our in-depth analysis of the superphones market includes the following segments:
By Operating System
By Application
By Distribution Channel
By Region
Geographically, the global superphones market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.
North America is projected to hold the largest market share during the forecast period. The leading position is attributed to factors such as the prevalence of tech-savvy population, high spending on gadgets, the rapid expansion of online retailing in this region, and easy accessibility to the latest innovations in the specialized and online stores of the U.S. and Canada.
The European region is anticipated to hold the second-largest market share in the superphones market. Spreading out of e-commerce, rising expenditure power, budding population, presence of key market players, and rising awareness are the elements that have accelerated the growth of the market growth in this region.
Asia-Pacific is estimated to grow at the fastest rate during the forecast period. Factors such as the fast adaptation of technology among the consumers, along with the rising purchasing power of the customers, growing population, have been fueling the demand for the superphones in this region. Also, the presence of leading players such as Samsung Electronics Co. Ltd., Sony Corporation, Motorola, Inc. and ASUS, Inc. in the region is contributing significantly towards the region’s growth. Moreover, the growing investments in research and development activities for the introduction of innovative feature smartphones are projected to accelerate the growth of this region in the coming years
Evolving nations, such as China, India, Brazil, South Africa, and Thailand are significant markets with huge opportunities for the global superphones market.
The superphones market is further classified based on region as follows:
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