The iPhone was first launched in 2007, making it 10 years old next year. Apple's first smartphone release was such a big deal that it pushed the demand for smartphones to sky high. Different manufacturers competed with each other as they release new models year after year. However, according to a recent research, the smartphone boom is going downhill from here.

Consumers have seen hundreds of new smartphone models come to the market. Samsung's Galaxy line, Microsoft's Lumia line, LG's G line, and Motorola's Moto line among many others have successfully entered the market for smartphones. However, this trend is about to end now.

Analyst firm IDC released some information this week saying that the growth in smartphone market will be way lower this year compared to last year. In 2015, the growth in smartphone market was 10.6 percent from 2014. This year, however, it would only be 1.6 percent versus last year.

Furthermore, developed places like Japan, Europe and North America are all expected to have a continuously declining smartphone market. BusinessInsider shares that people are already happy with their current phones, so not a lot of people are interested in buying new ones. This is also why manufacturers like Apple encourages their users to do constant upgrading.

However, with the rise of VR headsets, the slow down of the smartphone market may not exactly lead to an ultimate downfall because these headsets require smartphones to work. But this could mean that smartphones with bigger screens may become the new trend. But even so, it is still undeniable that the smartphone boom is over.

Rumor has it though, that Apple is planning something big for iPhone's 10th anniversarry next year. If it would lead to a repeated history, it's still hard to tell right now.

Further information from the research reveal that based on the breakdown of sold devices by operating systems, Android is still on top. Windows phones however, will see a very big fall versus last year.