Smartphone ownership rate to surpass 90 pct by 2028

Last update: 23/10/2019

KUALA LUMPUR, Oct 23 -- Smartphone possession at households in developed and emerging markets is expected to exceed 90 per cent by 2028, according to Euromonitor International.

Last year, 78 per cent and 65 per cent of households in developed and emerging markets, respectively, possessed a smartphone.

Euromonitor International digital consumer senior head, Michelle Evans said: “Widespread connectivity, rising smartphone possession and new technologies are reshaping consumer markets. 

“Companies need to adopt a strategy that includes renovation, innovation as well as disruption tactics to remain competitive.”

Global consumers, for example, will spend more than US$108 billion on digital streaming services this year. (US$1 = RM4.19)

The global market research firm’s new white paper, ‘Digital Disruptors: Leveraging Tech to Innovate’, explores disruption in the digital era across streaming services, delivery, ride-hailing, digital wallets and social media.

The white paper profiles cutting-edge companies such as Netflix, Grab and WeChat, that are pushing the boundaries of innovation.