Global ODM Smartphones Market to Rise at 12.7% CAGR during 2021-2027

Global ODM Smartphones Market to Rise at 12.7% CAGR during 2021-2027

The global ODM smartphones market is expected to rise at 12.7% during the 2021-2027 period, thanks to rising demand for smartphones globally due the horizon of 5G technology. According to the Pew Research study in 2019, nearly 96% of Americans own cell phones, with nearly 81% owning a smartphone. Moreover, the figure is up from 35% in 2011, thanks to rising penetration of technology-use with growth of desktops, laptops, and tablets among other electronic devices. Nearly half of Americans also own a e-reader device, propelling demand for ODM manufacturing globally. Furthermore, growing share of Americans are entirely dependent on their smartphone devices to connect to the internet. According to the Pew Research Centre study, one in five Americans do not have a conventional broadband access to the internet. Additionally, the penetration of smartphones is breaking down traditional boundaries of race, income groups, with more non-whites, and lower-income Americans reporting a major demand for smartphone-based internet access.

Growth of 5G to Remain a Major Driver of Smartphone Penetration Globally

According to the CTIA, a trade association representing the wireless communication industry, the 5G technology is expected to make major breakthrough in a wide range of industries. For example, self-driving cars enabled by the 5G technology will result in 79% emission reductions, while reducing fatal loss of lives by over 20k. Moreover, the agency also predicts that over 79% agricultural professionals will rely on the wireless technology to improve efficiency in agricultural production. Furthermore, currently 40% farmers rely on smartphones or tablets to support their faming business. The mobile gaming industry also continues to get bigger to reap in more revenues, with mobile gaming accounting for 51% market share in 2018, rising from 34% in 2015.

The adoption of 5G remains robust in the healthcare sector, wherein trends like tele pharmacy are aiding rural population with cost-effective consultation to serve treatment of chronic illnesses. Moreover, growing adoption of smartphone-based technology also remains a key driver of growth for the healthcare sector with additional savings estimated to reach $305 billion by the CTIA. Growing horizon of lightening quick internet, and complimentary trends like AI, machine learning, and IoT will drive robust demand for smartphones, tablets – leading to major growth for players in the ODM smartphones market.

Global Smartphone Manufacturers Take the ODM Route to Manufacturing

Global smartphone manufacturers including Apple, Samsung, Nokia, Realme, Xiaomi are increasingly opting for the ODM route to manufacture smartphones. The ODM route has proven to be a reliable way to manufacture smartphones in a cost-effective manner. The rising demand for smartphones, and growing announcements like Realme’s decisions to also launch its line of laptops through the ODM route, along with Nokia’s entry into the laptop segment remains promising drivers of growth for the ODM industry. The Realme CEO for India, and Europe, Madhav Sheth, recently announced that the company will be launching a 100 new products including smart speakers, air buds, smart bulbs, and even laptops in 2021 to cash-in on the growing popularity of its brand. The rising effifacy of ODM manufacturing, and growing demand for smartphones with drivers like 5G technology will promise major growth for players in the global ODM smartphones market.

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