More than 95% of customers in the US wireless mobile phone market are served by AT&T, Verizon, and T-Mobile. This market is characterized by oligopolistic rivalry.
How large is the market for cell phones?
In 2021, the market for smartphones was estimated to be worth USD 457.18 billion. A 7.3% CAGR is predicted for the market throughout the forecast period as it increases from USD 484.81 billion in 2022 to USD 792.51 billion in 2029.
The market for smartphones is it expanding?
Since 2008, the smartphone market has been continuously expanding and increasing in size as well as in terms of the variety of models and providers. In 2022, it is anticipated that there will be 1.43 billion smartphones shipped globally. 78.05% of people on the planet will have smartphones by the year 2020.
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