New Telegraph

Nigerian smartphones’ revenue hits $8.72bn in 2022

…users to grow more than 40m by 2025

 

Revenue in the smartphones segment of the Nigerian market amounted to $8.72 billion in the last seven months of 2022 with 41.69 million users.

A report by a global  research platform, Stattista, revealed this, stating that the market is expected to grow annually by 6.58 per cent.

According to the report, in global comparison, most revenue is generated in China with $116.70 billion in 2022. In relation to total population figures, per person revenue of $40.25 is generated in 2022.

In the smartphones segment, volume is expected to amount to 37.2 million pieces by 2027 as the segment is expected to show a volume growth of 4.8 per cent in 2023.

The average volume per person in the smartphones segment is expected to amount to 0.1 pieces in 2022.

In 2021, the total amount of smartphone shipments reached 1.35 billion units worldwide.

The global smartphone market saw an exceptional  growth from 2009, when 173 million smartphones were shipped worldwide to 2016 when smartphone shipments amounted to 1.47 billion. Much of this increase was attributed to the iPhone release in 2007.

 

With its consumer-friendly design, Apple introduced multimedia functions to smartphones, offering more than basic featuressuchasemailandweb browsing.

 

Apple iPhone dominated the list of top 10 best-selling smartphones globally in 2021, according to a report. iPhone 12, iPhone 12 Pro Max, and iPhone 13 were amongst the top-selling phones of the year. Apple’s release pushed the competitors to respond with new models, and started to shape the consumers’ habits.

This shift can be observed in smartphone vendors’ shipment figures. Nokia and Blackberry/ RIM – previous leaders in smartphone shipments – saw their figures slowly decrease over the years, whereas Samsung and Apple increased their market share. In 2020, Samsung held 20.6 per cent of the global market share, and Apple accounted for nearly 16 per cent.

The global smartphone market was hit due to the Coronavirus (COVID-19) pandemic, but shows sign of recovery, and 1.57 billion smartphones are forecast to be shippedin2022, withemerging markets taking the lead. Google’s Android is the most popular smartphone operating system in the world. In 2017, just over 80 percent of all smartphone shipped used Android operating system.

 

This share is forecast to rise to 87.4 per cent in 2023. Apple’s iOS is the second most popular operating system, with about 15 per cent of the market share in 2017. In 2021, China had more smartphone users than any country in the world at more than 950 million. India had the second most smartphone users, although almost only half as many as China.

 

These two countries are expected to continue to lead the smartphone user ranking, as China and India also rank one and two in regards to the largest populations worldwide and still have strong growth potential due to a relatively low smartphone penetration rate.

 

The smartphone penetration rate can be used as one indicator to measure how advanced the economy of a country is. A smartphone penetration rate above 70 per cent, for example, is common in countries with advanced economies.

 

Outside Western Europe and the United States, smartphone penetration was highest in South Korea, as more than 76 per cent of the population is using a smartphone. Japanisanotableexception to the 70 per cent line, with penetration rates just under 60 per cent.

 

According to Jumia Mobile Report 2019, Nigeria has a mobile penetration of 87 representing a 6.4 per cent growth increase, compared to 162 million subscribers in 2017

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