Juniper Research forecasts that Apple would generate iPhone sales worth US$200 billion in 2022, representing nearly 40 per cent of the total smartphone hardware market as users’ demand for higher-price models grows.
In its latest study, Juniper Research found Apple was succeeding in convincing customers to choose pricier items by combining strong hardware with an advanced software platform, something the company stated other vendors have only achieved to a limited degree.
Despite expecting iPhones to account for almost half of smartphone sales by value in 2022, Juniper Research noted Apple’s market share by shipments would be less than 20 per cent.
Juniper Research added the ASP of iPhones is expected to rise to $700 globally in 2024, while Android devices are set for a decline to around $200 if they fail to leverage 5G and widen the reach of new design features.
It also tipped Chinese brands to continue to benefit from Huawei US troubles, with the vendor’s market share tipped to stand at 9 per cent in 2022 compared with 11 per cent in 2019.
The research company warned premium features including camera technology improvements and high-end audio won’t be enough for vendors to compete at scale in the crowded smartphone market.
“Apple and Samsung have succeeded in fostering brand loyalty, which smaller vendors have struggled with, despite many introducing new capabilities,” said associate analyst Nick Hunt. “These players need to pair strong features with strong branding to have sustained success.”