Press release
Smartphones Market to Exceed at 15.4% CAGR by 2020
According to a persistence market research report, the global market for smartphones is expected to expand at a CAGR of over 7% in terms of value and over 5% in terms of volume during 2016-2024.Factors such as increasing disposable income, and expanding mobile communication networks across the globe are resulting in higher sales of consumer electronics such as laptops, tablets, gaming consoles and smartphones. In addition, robust adoption of smartphones, especially amongst the urban population is indicating a strong market growth in developed regions (where the rural to urban population is lower compared to developed regions). This, in turn, has triggered as rapid growth of the smartphone market in recent years and the trend are expected to continue over the forecast period
The global market for smartphones is anticipated to grow at a healthy rate during the forecast period due to technological advancement in telecommunication, m-commerce and electronic industry coupled with the higher penetration of low priced electronic products that are made in China including smartphones. Leading smartphone companies across the globe are focusing on further development of products and making significant investments in research and development activities in order to offer unique functionalities and improve their global market presence.
Likewise, growing acceptance of m-commerce particularly amongst the working populace is expected to support the demand for smartphones that come with smart plug-ins offering a better m-commerce experience. Intensive marketing activities by manufacturers, rising trends of social media subscription and increasing internet penetration are additional factors expected to drive the global market for smartphones in the near future. In a struggle to retain or establish market dominance, brands are implementing aggressive sales and market strategies to woo buyers with enhanced features, multiple user modes and most of all attractive pricing.
Based on operating systems, the global market for smartphone has been segmented into iOS, blackberry operating system, android, windows, and Other (Ubuntu, Tizen, and Sailfish). Amongst these, iOS is estimated to be the largest segment, accounting for over US$ 584 Billion by the end of 2024. The segment is anticipated to expand a healthy CAGR of over 9% and registering for 59.8% value share of the overall market during the forecast period. The iOS segment is closely followed by the android segment with 47.6% value share of the market, expanding at a CAGR of over 6%. By 2016 end, the android segment is anticipated to account for the highest volume share of the market, which is over 69%. In addition, the segment is expected to witness a further rise of its volume share up to 70% by 2024 end. In terms of value, the android segment is anticipated to account for over 50% share of the market by the end of 2016, whereas, the iOS segment is projected to account for over 46% revenue share in 2016. Similarly, the android segment is expected to expand at a healthy CAGR through 2024 owing to the growing supply and demand for low priced android phones. By the end of 2016, the blackberry operating system is projected to surpass US$ 7,563 Million. While the windows segment is expected to stand at US$ 8,819.9 Million.
Based on distribution channel, the market is segmented into e-Commerce, OEM and Retailer. E-Commerce is expected to witness the highest growth, reflecting a CAGR of over 9%. In 2016, the segment is projected to cross US$ 175.3 Billion in terms of value. In addition, the segment is closely followed by OEM segment, which is anticipated to grow at over 7% during the forecast period. Furthermore, the segment is projected to stand at US$ 221.2 Billion by 2016 end. While the retailer segment is expected to cross US$ 218 Billion in the same year.
Request to view table of content @ http://www.persistencemarketresearch.com/market-research/consumer-electronics-market/toc
On the basis region, the global market for smartphones is segmented into North America, Western Europe, Latin America, Asia Pacific Excluding Japan (APEJ), Eastern Europe, Japan, and the Middle East and Africa (MEA). In 2016, APEJ is projected to be the most lucrative market for smartphones, accounting for over 33% share in terms of value. The region is anticipated to maintain its dominance during the forecast period. In addition, robust infrastructural development and economic growth in several parts of the region is expected to drive the growth of smartphone market in APEJ. Increasing inflow and higher production of low priced efficient electronic products and components are additional factors positively influencing the market in APEJ. On the other hand, the market in MEA is expected to witness the highest growth during 2016-2024, expanding at a CAGR of over 13%. This is due to the rapid urbanization that is taking place in the region leading to increasing number of buyers willing to purchase high-end smartphones. Moreover, growing demand for consumer electronics and higher disposable income is translating into stout adoption of smartphones in the region.
A sample of this report is available upon request @ http://www.persistencemarketresearch.com/samples/3068
Vendor News
Key players operating in the global market for smartphones include Apple Inc., Huawei Technologies Co. Ltd., LG Electronics Inc., ZTE Corporation, Samsung Electronics Co. Ltd.,vVivo Communication Technology Co. Ltd., Lenovo Group Limited, and, TCL Communication Technology Holdings Limited.
About Us
Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance.
To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.
Contact Us
Persistence Market Research
305 Broadway
7th Floor, New York City,
NY 10007, United States,
USA – Canada Toll Free: 800-961-0353
Email: sales@persistencemarketresearch.com
Web: http://www.persistencemarketresearch.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Smartphones Market to Exceed at 15.4% CAGR by 2020 here
News-ID: 507243 • Views: …
More Releases from Persistence Market Research

Plastic Liner Market to Reach US$ 6.67 Bn by 2030, Expanding at 4.7% CAGR - Pers …
➤ Overview of the Market
The global plastic liner market has gained steady traction across multiple industries due to its cost-effectiveness, versatility, and protective characteristics. Plastic liners are widely used in agriculture, mining, construction, waste management, and packaging industries, where they serve as an essential barrier to prevent leakage, contamination, and material loss. These liners are manufactured using materials such as polyethylene (PE), polypropylene (PP), and PVC, offering superior resistance to…

Returnable Plastic Crate Market to Reach US$ 2,665.1 Million by 2030 Fueled by S …
➤ Overview of the Market
The global returnable plastic crate market is gaining momentum as industries seek cost-effective and sustainable packaging solutions. These crates are widely used for transporting and storing perishable goods, beverages, pharmaceuticals, and industrial products due to their durability, stackability, and reusability. The shift from single-use packaging to eco-friendly alternatives has accelerated the adoption of returnable plastic crates across sectors. The market, valued at US$ 1,820.0 million in…

US Thermal Power Market Expected to Reach US$ 251.9 Mn by 2031 with 2.4% CAGR Gr …
➤Overview of the Market
The US thermal power market plays a crucial role in the nation's energy mix, serving as a stable and reliable source of electricity despite the rise of renewables. Thermal power plants in the US rely primarily on coal, natural gas, and oil to generate electricity, with natural gas emerging as the dominant fuel source due to its affordability, efficiency, and lower carbon footprint compared to coal. According…

Europe Medical Plastic Market to Reach US$ 17 Bn by 2032 Driven by Rising Health …
➤Overview of the Market
The Europe medical plastic market is undergoing robust growth, fueled by increasing demand for lightweight, durable, and cost-effective materials in the healthcare sector. Medical plastics are widely used in devices, surgical instruments, diagnostic tools, implants, and packaging due to their high biocompatibility, versatility, and resistance to sterilization methods. With healthcare systems across Europe investing heavily in modernization and patient safety, the adoption of medical-grade plastics has gained…
More Releases for CAGR
[CAGR of 6.7%] Nanocoatings Market Size, Industry Share, CAGR, Regional Forecast …
The global Nanocoatings Market generated $10.7 billion in 2020, and is projected to reach $20.1 billion by 2030, growing at a CAGR of 6.7% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Download sample PDF @ https://www.alliedmarketresearch.com/request-sample/2064
According to the report published by Allied Market Research,…
[CAGR of 5.3%] Pigments Market Size, Industry Share, CAGR, Regional Forecast, 20 …
A recent report by Allied Market Research provides a detailed analysis of the pigments market, highlighting its robust growth. The industry was valued at $27.2 billion in 2022 and is projected to surge to $45.4 billion by 2032, exhibiting an impressive CAGR of 5.3% from 2023 to 2032.
This research report identifies the growth drivers behind the market's expansion and delves into the market dynamics using advanced analytical frameworks…
[CAGR of 5.5%] Silica Flour Market Size, CAGR, Competitive Analysis and Forecast …
The global silica flour industry generated $520.0 million in 2021, and is estimated to reach $876.3 million by 2031, witnessing a CAGR of 5.5% from 2022 to 2031.
Allied Market Research published a report, titled, "Silica Flour Market by Type (Quartz, Cristobalite), by Application (Fiberglass, Glass and Clay, Oil Well Cement, Ceramic and Refractory, Foundry, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031." The report offers a detailed analysis…
Enzymes Market Expansion CAGR of 4.9% CAGR Anticipated 2025-2034
The Enzymes Market report is an in-depth examination of the global Enzymes Market's general consumption structure, development trends, sales techniques, and top nations' sales. The research looks at well-known providers in the global Enzymes Market industry, as well as market segmentation, competition, and the macroeconomic climate. A complete Enzymes Market analysis takes into account a number of aspects, including a country's population and business cycles, as well as market-specific microeconomic…
Electric Bed Market CAGR, Size, Share Grow USD 2,063 Million by 2030 CAGR 13.70%
Global electric bed market size is expected to be worth roughly USD 2,063 million by 2030, growing at a CAGR of more than 13.7% during the projected timeframe of 2022-2030, according to Ameco Research
A significant portion of the population over the age of 60, who often have reduced immunity levels and are more susceptible to neurological disorders, cardiac issues, tumors, and spinal cord compression, is anticipated to have a substantial…
Call Center AI Market Latest, CAGR, Volume and Value 2022-2030 | (CAGR) of 25%
New York , United States- Report Ocean published the latest research report on the Call Center AI market. In order to comprehend a market holistically, a variety of factors must be evaluated, including demographics, business cycles, and microeconomic requirements that pertain precisely to the market under study. In addition, the Call Center AI market study demonstrates a detailed examination of the business state, which represents creative ways for company growth,…