The smartphone shipments market is expected to double by 2017 and credit is given to top brands providing consumers more options than ever.
According to research firm IHS, worldwide shipments of smartphones will reach 1.5 billion units in 2017. IHS's figure is up compared to 712 million units shipped in 2012.
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"The volume of new flagship smartphone releases from top original equipment manufacturers (OEM) this year has been astounding," said IHS Senior Analyst for Consumer and Communications Wayne Lam. "These include the new BlackBerry Z10, the aluminum uni-body HTC One, and an update to the Samsung Galaxy S4 featuring a Full HD 5-inch active matrix organic light emitting diode (AMOLED) display."
As for 2013, smartphone shipments are set to rise to 897 million units.
IHS has projected that if the number of smartphone shipments made remains at the pace it is currently going, 2014 will witness the one billion mark, specifically 1.1 billion units. The shipments will gradually increase to 1.2 billion units in 2015 and 1.4 billion in 2016.
Apple's iPhone brand may, however, encounter difficulties at the current sales rate. iPhone shipments reached 37.4 million units by the first quarter of 2013, which was below expectations. If the rumored iPhone 5S launches this September, overall iPhone sales could hit the 150 million units mark for 2013, however, it is considered "flat" compared to the 134 million units sold in 2012.
"The possible slowing growth of the iPhone and the rapid pace of competitive smartphones releases speak to the ferocious nature of the handset business, especially now as the market continues to pivot from a market dominated by lower-end handsets known as feature phones to one that is increasingly smartphone-centric," added Lam.