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Source document· June 1, 2026

Smartphones Market Worth USD 739.23 Billion by 2031 with Android Segment Holding 69.21% Market Share and AI Adoption Accelerates Growth, Reports Mordor Intelligence

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Smartphones Market Worth USD 739.23 Billion by 2031 with Android Segment Holding 69.21% Market Share and AI Adoption Accelerates Growth, Reports Mordor Intelligence Hyderabad, India, June 01, 2026 (GLOBE NEWSWIRE) -- Mordor Intelligence has published a new report on the smartphones market, providing a comprehensive ana…

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Used or refurbished smartphone growth is cannibalizing new device demand, acting as a market restraint.
60% confidence
The Used and Refurbished Smartphone Market is expected to reach USD 69.66 billion in 2026 and grow to USD 96.99 billion by 2031, registering a CAGR of 6.84% during the forecast period.
60% confidence
The smartphones market size is expected to grow from USD 609.29 billion in 2026 and is forecast to reach USD 739.23 billion by 2031, registering a CAGR of 3.94% during 2026-2031.
60% confidence
Memory supply tightness lifts bill-of-materials costs, pressuring low-end Android devices.
60% confidence
Smartphone vendors are focusing on foldable designs, on-device AI functionality, and sustainable manufacturing practices to strengthen their competitive positioning.
60% confidence
Advanced AI capabilities are becoming a key factor influencing smartphone purchases, with consumers attracted to smarter personalization, improved photography, real-time language assistance, and productivity tools on the handset.
60% confidence
The growing availability of budget-friendly 5G smartphones is helping accelerate adoption across developing markets.
60% confidence
The Middle East and Africa Smartphones Market is projected to reach USD 33.95 billion in 2026 and expand to USD 50.14 billion by 2031, growing at a CAGR of 8.12%.
60% confidence
Increasing 5G adoption, growing consumer demand for premium devices, and expansion of digital ecosystems are supporting long-term smartphone market growth.
60% confidence
The Foldable Smartphone Market is expected to reach USD 38.68 billion in 2026 and grow to USD 110.19 billion by 2031, registering a CAGR of 23.29% during the forecast period.
60% confidence
Asia-Pacific remains a key hub for the smartphones market, supported by strong consumer demand, expanding local manufacturing capabilities, and ongoing investments in mobile technology.
60% confidence
As smartphone market dynamics continue to evolve across regions and price segments, decision-makers require analysis grounded in consistently applied research standards and transparent evaluation of market developments.
60% confidence
Geopolitics and tariffs are shifting SKUs and raising logistics complexity as a market restraint.
60% confidence
The Middle East is witnessing increasing demand for advanced smartphones, driven by digital transformation initiatives and growing interest in premium mobile experiences.
60% confidence
Android segment holds 69.21% market share in the global smartphones market.
60% confidence