Phablet Market Size (2024 – 2030)

The Global Phablet Market saw a valuation of USD 2.36 billion and is poised to achieve a market size of USD 6.7 billion by the culmination of 2030. Projections indicate growth at a CAGR of 16.09% during the forecast span from 2024 to 2030.

Phablet Market Overview

The term "phablet" denotes a mobile device amalgamating the functionalities of both a smartphone and a tablet. Typically, it boasts a screen larger than that of the standard smartphone yet falls short of the typical tablet size. The phablet market has witnessed substantial expansion in recent times, driven by consumer preferences for smartphones with larger screens without compromising on mobility. This market is segmented into mid-range and high-end phablets. Mid-range phablets sports screens ranging between 5.5 and 6.5 inches, commendable processing capabilities, and decent camera quality, with prices spanning from $200 to $500. On the other hand, premium phablets priced above $500 offer screens exceeding 6.5 inches, cutting-edge cameras, and advanced processors. The surge in mobile video consumption and the demand for multitasking devices has significantly propelled the phablet market's growth. While companies such as Huawei, Xiaomi, and Oppo have made notable strides, Samsung and Apple continue to lead this market globally. The foreseeable future indicates a persistent need for more powerful mobile devices with larger screens, thus driving the anticipated expansion of the phablet market.

Global Phablet Market Drivers

Increasing Demand for Mobile Video Consumption

A pivotal driver in the global phablet market is the escalating demand for mobile video consumption. The trend of streaming video content on mobile devices has surged, leading to a heightened need for devices with larger screens that retain mobility. Phablets offer an immersive viewing experience superior to smartphones, despite their smaller form factor. With the proliferation of video content platforms like YouTube, Netflix, and Amazon Prime Video, the market now demands technology capable of delivering high-quality video content. Phablets, equipped with larger screens and high-resolution displays, stand as the prime choice to fulfill this demand. Despite their smaller screens compared to smartphones, phablets remain portable for on-the-go usage while providing an enhanced viewing experience. This trend is projected to persist in the coming years as more consumers turn to their mobile devices for entertainment.

Increasing Demand for Multi-tasking Capabilities

Another significant factor propelling the global phablet industry is the growing desire for multi-tasking capabilities. As more individuals use mobile devices for both personal and professional purposes, the need for devices capable of running multiple applications concurrently rises. Phablets, with their larger screen sizes, facilitate easier operation of numerous apps simultaneously while remaining portable. With mobile devices becoming primary work tools amid the rise of remote work and flexible schedules, the ability to multitask efficiently has gained paramount importance. Phablets, equipped with larger screens and powerful CPUs, cater excellently to this demand. Users can seamlessly transition between work-related tasks and leisure activities owing to their capability to handle multiple programs simultaneously. This trend is expected to persist in the forthcoming years as mobile devices increasingly become integral to work and productivity.

Global Phablet Market Challenges

The global phablet market encounters a notable challenge owing to the saturation of the smartphone market. As smartphones offer larger screens and advanced features, customers may exhibit reluctance in transitioning to phablets, posing a challenge for manufacturers to attract and retain consumers. Additionally, some consumers might opt for less expensive smartphones or smaller tablets due to the potentially high prices of high-end phablets. Mid-range phablets, while balancing price and performance, might lack some cutting-edge features present in high-end models.

Global Phablet Market Opportunities

The burgeoning demand for 5G-capable devices presents a substantial opportunity for the global phablet market. With customers seeking devices capable of harnessing the faster download and upload speeds offered by 5G networks, phablet manufacturers stand to benefit by providing 5G-enabled smartphones with larger screens. This offering promises customers a more immersive experience while streaming video content or using multiple apps concurrently.

COVID-19 Impact on Global Phablet Market

The impact of the COVID-19 pandemic on the global phablet market has been multifaceted. On the downside, the pandemic-induced economic downturn has led to reduced consumer expenditure on non-essential goods such as electronic devices, including phablets. In certain regions, this has resulted in a decline in the demand for phablets. Conversely, the pandemic has spurred the adoption of virtual meetings and remote work, consequently increasing the demand for devices with larger screens and enhanced multitasking capabilities, such as phablets. Moreover, the accelerated adoption of e-commerce during the pandemic has boosted online sales of electronic products, including phablets.

Global Phablet Market Recent Developments

In October 2022, Apple introduced the iPhone 14 Plus, marking its foray into the phablet segment with a 6.7-inch display and A15 Bionic chip. Despite lacking a telephoto camera lens and LiDAR sensor, it boasts an upgraded dual-camera system, Crash Detection, Emergency SOS via satellite, and the best battery life ever seen in an iPhone.

In February 2023, Samsung launched the new Galaxy S23 series in India, featuring the Galaxy S23 Ultra equipped with a built-in S Pen and a 200MP adaptive pixel rear camera. The device also touts dual-pixel autofocus technology and Nightography for enhanced low-light photography. Promising faster focus, clearer images, and detailed captures, the Galaxy S23 series showcases Samsung's latest innovations in the phablet market.

Global Phablet Market Segmentation: By Component

• Hardware
• Software
• Services

The global phablet market is categorized into three segments: hardware, software, and services. Hardware components encompass display screens, CPUs, batteries, and cameras, while software components include operating systems and applications. The services segment covers post-purchase support such as repair and maintenance. Forecasts suggest that the hardware sector is poised to lead the market, driven by the escalating demand for devices featuring expansive screens and powerful CPUs. Simultaneously, the software sector is expected to witness significant growth due to the increasing reliance on mobile applications. Additionally, the services industry is anticipated to expand as consumers seek post-sales assistance to uphold and rectify their devices.

Global Phablet Market Segmentation: By Operating System

• Android
• iOS
• Windows
• Others

In terms of operating systems, the global phablet market is segmented into Android, iOS, Windows, and other categories. Android commands the largest market share owing to the extensive array of devices offered by diverse manufacturers across various price ranges. The iOS segment, led by Apple's iPhone Plus and Max models, occupies the second-largest market share. Windows, characterized by a limited device selection, holds a smaller share, while lesser-known operating systems such as Tizen and Sailfish are grouped under "others." Looking ahead, it is expected that Android and iOS will continue their dominance, potentially posing challenges for alternative operating systems to gain traction.

Global Phablet Market Segmentation: By Region

• North America
• Europe
• Asia Pacific
• Middle East
• Latin America

Regional divisions of the phablet market span North America, Europe, Asia Pacific, the Middle East, and Latin America. The Asia-Pacific region secures the largest market share, buoyed by its dense population, rapid urbanization, and increasing disposable incomes in countries like China, India, and Indonesia. North America and Western Europe also boast substantial market shares, driven by the high rates of mobile device adoption, particularly in the United States and Western Europe. The Middle East and Latin America are poised for significant growth, fueled by the expanding mobile penetration and consumer preference for larger-screen devices.

Global Phablet Market Key Players:

1. Samsung Electronics Co. Ltd.
2. Apple Inc.
3. Sony Corporation
4. Motorola, Inc.
5. ASUS, Inc.
6. HTC Corporation
7. LG Display Co. Ltd.
8. Micromax Ltd.
9. Dell, Inc.
10. Huawei Technologies Co. Ltd.
11. ZTE Corporation