Smartphone market to grow by ten per cent

The smartphone market is set to grow by around ten per cent over the coming years, as devices begin to come down in price, reports.

According to the new ‘Global Smartphones Market 2012 – 1016’ report from TechNavio, the industry is far from reaching saturation point. In fact, it has claimed that sales are expected to increase by around 10 per cent over the next three years.

Much of this, the report claimed, could be attributed to technological advancements and simultaneous cost declines, making them even more attractive an option than ever before. Not only that, price drops help both cost-conscious westerners, as well as those in developing countries who may otherwise have not been able to enter the market, meaning this growth could be seen world wide.

The results should be positive not only for mobile manufacturers, but also businesses around the world which rely on the devices for their marketing efforts. Seeing as smartphones offer users the option to click through to webpage links embedded in marketing text messages with just one-touch, the SMS marketing industry’s continued success is thought to be closely linked to that of the global smartphone market.

Elsewhere, the study looked at potential challenges to the market and how this could impact growth, claims. As such, the ten per cent expansion figure has taken this into consideration and been revised accordingly, in order to make it a more qualitative forecast.