If you don’t own a mobile phone today, you are one of an extreme minority in the human population. There are, very simply put, few tech markets that have boomed so quickly, and so significantly, in recent decades. The technology has progressed at a staggering rate, and a few companies have emerged as the most important brands. Namely, of course; Apple and Samsung.
But as we head towards 2020, rumours have quickly started to surface; the mobile phone market is due for a major crash. Could this be true, and if so, why would such a massive crash happen?
Reach Saturation Point
One of the biggest challenges that any tech industry faces is; why would anyone want to buy a new device, when their old one is just fine? You already have a TV, why would you want a new one? You already have a mobile phone, why would you want a new one? The logical answer to the question is; you wouldn’t.
Hence; there is a serious, built in flaw in most tech markets. The mobile phone market initially boomed because, of course, they were a new technology, and the world at large had to adopt it. Now that everyone has a phone, and that phone is more or less at the peak of the available technology, there really is no reason to buy a new model. Your phone is already capable of playing real money slots games, anywhere, anytime. Why get a new phone?
Sales Are Plummeting
If you didn’t already know, now you do; smartphone sales are already on the decline. The industry, as it stands, is no longer growing, but instead gradually beginning to decline. It is a small decline as it stands, but all indications point to a much more significant decline in the coming years. This is not a crash yet, so to speak, given that sales are still very strong.
But steps have been taken by industry giants to offset weaker sales. Namely; the prices of devices was significantly raised, in order to prevent big losses. But this step will only go so far in fending off a crash. Will this method work for coming years? Probably not.
Is There Anywhere To Go?
Rumours are that a new wave of mobile device technology is incoming, and that the newer model devices will, once again, push technology far enough that a new wave of adoption will be triggered. If this is true or not remains to be seen. But, even with a new wave of impressive new advancements, a crash will only be pushed back, not entirely solved.
Will There Be A Crash?
So; will there be an industry crash? There is no way to say for sure, but a reduction in the industry is more or less guaranteed. At least to some extent. As with PCs, the tech first had to be adopted, creating an enormous global boom. Once the boom passed, the industry settled into a more focused, specialised version of itself. The mobile phone market will likely undergo a similar transformation.