Consumers are likely to spend a whopping half trillion on smartphones globally in 2026, reflecting the growing costs of next-generation device average selling prices (ASPs) as well as rising data rate subscriptions, according to new data from Statista.
In 2025, annual global smartphone spending is expected to hit $485 billion, an $18 billion increase over 2024 levels.
While global spending on smartphones has exceeded $400 billion for more than a decade, the sector is now accelerating by adding between $18 billion to $20 billion to global smartphone revenue each year, Statista said. If the pace continues, consumers globally will be spending $560 billion on smartphones by 2029.
Nearly a quarter of this revenue will come from China, which is the world’s largest smartphone market. Europe is projected to spend about $95 billion on new devices and $60 billion from the U.S. market.
The spending is fueled from emerging technologies and enhancements to smartphones as well as demand for data rates continues to increase, resulting in higher spending bills.
The average smartphone price is set to rise by 3% in 2025, from about $287 to $296, the first time since 2021 the average selling prices has inched toward $300. Statista said this appears to be a long-term trend.
The company said smartphone ASPs are on a five-year trajectory of steady price increases, hitting $304.5 in 2026 and jumping to more than $312 in 2027. By 2029, smartphone ASPs will be about $328, or 10% more than 2025.
