More than a billion smartphones will be shipped in 2013, according to forecast from the International Data Corporation (IDC). In comparison to 2012, the number represents growth of close to 40%.
A number of mature markets are nearing saturation, according to IDC. In emerging markets including Latin America, Asia/Pacific, Africa and Middle East, future growth will be driven by demand for low-cost devices.
The major force behind the growth of the segment is the steady decline of the smartphones’ average selling price (ASP). The ASP for a smartphone is expected to be $337 in 2013 which will be down from $387 the year before, according to IDC. The ASP is projected to reach $265 by 2017.
In 2017, total smartphone shipments are expected to reach a staggering 1.7 billion units. Over the next four years, the compound annual growth rate is expected to be 18.4%.