For those not paying attention, the smartphone market is booming. How much it's growing depends on who you ask, but, regardless, all signs point to rapid expansion.

According to recent figures from research firm IDC, smartphone vendors shipped a total of 99.6 million units in the first quarter of 2011, with the market growing by an impressive 79.7 percent from the first quarter last year.

The growth, IDC stated, was fueled by a slew of new models hitting the market coupled with the price of older models decreasing. Additionally, as the smartphone market continues to increase, demand for mobile phone accessories, such as cell phone cases and car chargers, will likely follow.

IDC senior research analyst Ramon Llamas noted that several factors have created a "perfect storm for sustained smartphone growth," including more vendor investment, a wide selection of devices, competitive pricing and a greater need for more utility from mobile technology.

"Altogether, these add up to continued smartphone growth throughout the year," Llamas said.

IDC's figures reflect a slightly lower growth than a separate report by Canalys, which stated the smartphone market grew by 83 percent year-over-year in the first quarter of 2011, with 101 million units shipping.