There is more to the smartphone market than just selling devices; insurance, advertising, applications and accessories also generate tens of billions of dollars worldwide.
Smartphones are more than just gadgets for high-income people today. Smartphones are an integral part of everyone’s daily life, even in the poorest countries, these devices are becoming more and more widespread. Today, the smartphone also represents an extremely large industry that you may not even see at first glance. Mobile advertising, apps, games, accessories, repairs, music, and even insurance all play a crucial role in total sales today.
The Trillion Dollar Smartphone Economy
In the next year, most of an estimated $ 484 billion will go directly to smartphones. It is estimated that $ 176 billion will be generated from mobile advertising, about $ 118 billion will be generated with applications including games, and the smartphone accessories market is worth $ 77 billion. Even the insurance market is valued at $ 18 billion and repairs at $ 12 billion. Many can and do participate.
The vendor market (fees) is not even included as it cannot be used on the go without a smartphone.