DIGITIMES Research, by synthesizing supply chain information, regional market conditions, and analyzing global political and economic trends, forecasts that global smartphone shipments will reach 1,181.4 million units in 2024, marking a growth of 4.9%. Looking ahead over the next five years, there is an anticipated demand for feature phone users in regions such as India, Southeast Asia, Latin America, and Africa to upgrade to smartphones, while the ongoing deployment and expansion of 5G networks in these markets are expected to further drive their smartphone shipments. DIGITIMES Research estimates that the global annual shipment growth rate will range between 3% and 4%, with a compound annual growth rate (CAGR) of 3.6%.

Taiwan-based millimeter wave (mmWave) technology company TMYTEK is preparing to go public next year following a successful US$25 million Series B funding round that brought its total capital to US$54 million. The company has positioned itself as a key player in the emerging multi-orbit satellite communications market.