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Smartphone market to reach $739B by 2031, driven by 5G, AI features, and foldable tech growth

Market News
01 Jun 2026
Mordor Intelligence
View Source
Bullish
pluang ai news

The global smartphone market is projected to grow from $609.29 billion in 2026 to $739.23 billion by 2031, with a CAGR of 3.94%. Growth is fueled by increasing adoption of 5G devices, AI-powered features, premium upgrades, and innovations like foldable phones. Asia-Pacific and the Middle East are key growth regions, supported by expanding network infrastructure and consumer demand. Manufacturers focus on AI integration, sustainable practices, and affordable 5G models to capture emerging market opportunities.

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