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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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  • 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

  • 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

  • Memory supply tightness lifts bill-of-materials costs, pressuring low-end Android devices.

    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 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

  • 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

  • Android segment holds 69.21% market share in the global smartphones market.

    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

  • 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

  • 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

  • Smartphone vendors are focusing on foldable designs, on-device AI functionality, and sustainable manufacturing practices to strengthen their competitive positioning.

    60% confidence

  • The growing availability of budget-friendly 5G smartphones is helping accelerate adoption across developing markets.

    60% confidence

  • Used or refurbished smartphone growth is cannibalizing new device demand, acting as a market restraint.

    60% confidence
What we know · the intelligence behind this page
Live from the substrate
What we're seeing
AI Funding Surge: Capital Floods Fintech, Foundation Models, and Autonomous Systems
A concentrated burst of AI-linked funding on 2026-08-28 pushed well over $1.5B into companies spanning fraud/identity fintech (Socure, which also acquired Fravity), foundation models (Stability AI), AI agents and enterprise tooling (Instinct, Generalist AI, Emerald AI, Owner), and AI-adjacent autonomous/aerospace ventures (Gatik, Regent Craft). The breadth and simultaneity of these rounds signal that investor appetite for AI is not concentrated in a single vertical but is broadening into applied and infrastructure-adjacent domains, with consolidation (Socure-Fravity) beginning alongside fresh capital formation.
Our read on the data ›
Signals we're tracking
Satellite-Terrestrial Network Integration Acceleration
Increased investment and launches in hybrid satellite-cellular networks across telecom industry; competitive responses from other carriers; regulatory activity around satellite spectrum; expansion of emergency/rural connectivity use cases
Patterns we're watching ›
Where sources disagree
ING Group
Both facts record the same metric (shares_outstanding) for ING Group at the identical observation date (2025-12-31). FACT A states 2,902,437,688 shares; FACT B states 2,902 million shares (2,902,000,000). The difference is 437,688 shares (~0.015%). This is a genuine value conflict, though the discrepancy appears to result from FACT B rounding to the nearest million while FACT A provides the precise count.
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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 — Source | Via News | Via News