In-Stat: Global Wireless Handset Market Grows 23% in 2006 and Will Reach $250 Billion by 2011

According to In-Stat, the firm predicts the market for wireless handsets "will grow 23%, to exceed $136 billion in 2006" and "will continue to grow but at a slower rate, exceeding $250 billion in 2011."

In-Stat states this growth "depends upon phone manufacturers continuing to add features that consumers value and that the rest of the industry can support. The greatest challenge is to just add the features different customers want without adding unneeded cost or complexity from unneeded or unwanted features."

According to the In-Stat survey, "very few US users, less than 5%, do not use at least one of the technological innovations introduced over this period. Consumers seem ready to embrace other new features, including location-based services and Bluetooth connectivity, but only a narrow segment have interest in multimedia features and camera phone use will see a decline."

Bill Hughes at In-Stat said, “Big trends over the next five years include adoption of wireless phones as a mobile wallet, that and more users will carry multiple devices. The primary changes in phones over the next five years are that they will become more capable, incorporate beefier security, and be more targeted as organizations have greater involvement in the wireless service decisions of their employees. Perhaps more importantly, they will help us be safer.”

Key findings include:

• Worldwide sales of mobile phones will rise from 935 million units in 2006 to more than double that in 2011.
• SmartPhone sales will surpass 480 million units by 2011.
• Motorola was by far the most popular phone brand among survey respondents who obtained their phone through work.