Global Smartphone Market to Increasing Demand for Android and iOS Worldwide.

Persistence Market Research delivers key insights on the global smartphone market in a new report titled, “Smartphone Market: Global Industry Analysis and Forecast, 2016–2024”. The global smartphone market is projected to register a healthy CAGR of 7.9% in terms of value and 5.8% in terms of volume during the forecast period 2016-2024. The report provides insightful information on the global smartphone market pertaining to the value chain, market trends, competitive landscape, market dynamics, and market estimation and forecast for the projected eight-year period.

Rising disposable income increases the probability of consumer spending on media, entertainment, and networking and mobile communication; leading to higher potential sales of consumer electronics such as smartphones, tablets, laptops, and gaming consoles. The instances of smartphone adoption are very high among the urban population as compared to the rural population – and hence there is high demand for smartphones in developed regions (where the urban to rural population ratio is higher than developing regions). These factors have led to a sudden growth of the global smartphone market over the last few years and this trend is likely to continue in the coming eight years.

Request SampleL: https://www.persistencemarketresearch.com/samples/11827

The global smartphone market is expected to witness substantial growth over the forecast period owing to advancements in the electronic, telecommunication, and m-Commerce industry as well as the increasing penetration of the Chinese smartphone industry. Leading global smartphone manufacturers such as Apple Inc., Samsung Electronics Co., Ltd., Huawei Technologies Co., Ltd., Lenovo Group Limited, and LG Electronics Inc. are making strategic investments in the development and production of their own application processor (AP) to differentiate their offerings and maintain increased market share and margins. There is also a rising trend of m-commerce particularly among the working population, and this has increased the demand for smartphones with top-notch features supporting m-commerce. Growing internet penetration, increasing marketing activities by vendors, and rising subscription in social media are some of the other key factors driving the growth of the global smartphone market. In the tug of war over customer acquisition and retention, brands are resorting to aggressive marketing and sales strategies to woo the new generation of smartphone wielding young professionals with attractive pricing, enhanced features, and multiple user options.

The global smartphone market is segmented on the basis of Operating System (Android, iOS, Windows, Blackberry Operating System, Other (Sailfish, Tizen, and Ubuntu)) and Distribution Channel (OEM, Retailer, e-Commerce). On the basis of operating system, the iOS segment is anticipated to account for US$ 584.9 Bn by 2024, registering a substantially high CAGR of 9.1% over the forecast period with a relatively high value share of 59.8%. The Android segment is expected to follow closely with a value share of 47.6% and a CAGR of 6.7%. In terms of volume, the Android operating system is estimated to account for the largest market share of 69.3% in the global smartphone market by the end of 2016 and is expected to increase to 70.0% by 2024. The Android segment is estimated to account for 50.7% value share in 2016 while the iOS segment is estimated to account for a revenue share of 46.2% in 2016. In terms of value, the Android segment is likely to register a high CAGR between 2016 and 2024 and this can be attributed to an increase in the demand and supply of reasonably priced android smartphones. The Blackberry Operating System segment is estimated to be valued at US$ 7,563.1 Mn in 2016 while the Windows Operating System segment is estimated to be valued at US$ 8,819.9 Mn in 2016.

Download TOC: https://www.persistencemarketresearch.com/market-research/smartphones-market/toc

On the basis of distribution channel, the e-Commerce segment is expected to show a significantly high growth rate of 9.3% followed by the OEM segment with a 7.9% growth rate by the end of 2024. The e-Commerce segment is estimated to be valued at US$ 175.3 Bn in 2016. The OEM segment is estimated to be valued at US$ 221.2 Bn in 2016 while the Retailer segment is estimated to be valued at US$ 218.1 Bn in 2016. As compared to the other segments, the OEM segment is expected to exhibit a relatively high attractiveness index over the forecast period. In terms of value, the global smartphone market is likely to project a healthy incremental opportunity during the forecast period.

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.

305 Broadway,7th Floor
New York City, NY 10007
United States
+1-646-568-7751
+1 800-961-0353 (USA-Canada Toll free)
Email: sales@persistencemarketresearch.com
Website: https://www.persistencemarketresearch.com

This release was published on openPR.