Smartphone demand continues to drive growth within technology sector

USA: The rapidly growing popularity of smartphones globally has provided many opportunities for growth within the Technology Sector. Recently, market researcher IDC has forecasted smartphones will outsell feature phones for the first time ever in 2013.

IDC forecasts smartphones to equate for roughly two-thirds of total mobile phone shipments, roughly 1.5 billion smartphones, by the end of 2017. Smartphone growth is expected to be driven by emerging markets such as China and India, where penetration rates are still quite low. Smartphone shipments to China are expected reach 460 million units by 2017.

"Smartphone prices have fallen globally, the smartphone strata are wider than ever, and the roll-out of data-centric fourth-generation (4G) wireless networks are three factors that have made these 'do-it-all' devices an increasingly attractive option for users," IDC said.