Updated Nov 8, 2022 04:49

Mobile Phone Market in the United States

Market Overview
For the third year in a row, the U.S. mobile phone market recorded decline in sales value, which decreased by -% to $ in . In general, consumption, however, continues to indicate a pronounced curtailment. Over the period under review, the market hit record highs at $ in 2017; however, from 2018 to , consumption stood at a somewhat lower figure.

In value terms, mobile phone production soared to $ in . Overall, production showed a notable increase. Mobile phone production peaked at $ in ; however, from to , production stood at a somewhat lower figure.


Consumption
In , consumption of mobile phones was finally on the rise to reach units for the first time since 2019, thus ending a two-year declining trend. In general, consumption, however, showed a noticeable reduction. Mobile phone consumption peaked at units in 2011; however, from 2012 to , consumption failed to regain momentum.

The revenue of the mobile phone market in the United States reduced to $ in , remaining stable against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, recorded a perceptible curtailment. Mobile phone consumption peaked at $ in 2017; however, from 2018 to , consumption stood at a somewhat lower figure.


Market Forecast
Depressed by shrinking demand for mobile phone in the United States, the market is expected to continue its downward consumption trend over the next eight-year period. The performance of the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to depress the market volume to units by the end of .

In value terms, the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
Mobile phone market in the United States consists almost entirely of imported products. In recent years, import price have increased sharply. Despite the hike in price, the United States relies completely on foreign supplies: the volume of domestic output remains insufficient to satiate market demand. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.


Trade Balance
The United States remains a net importer of mobile phone; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of units, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.