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Sales of Smartphones Market to Grow at Robust CAGR During 2016–2024

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.

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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.

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.

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The report covers the global smartphone market across seven key regions namely – North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan, and the Middle East and Africa (MEA). On the basis of region, APEJ is estimated to be the largest market for smartphones, accounting for 33.7% value share of the global smartphone market in 2016. The APEJ region is projected to remain dominant throughout the forecast period. There is a rapid growth of infrastructure and economic development in several countries in the APEJ region and this is expected to boost the growth of the smartphone market in this region. An increasing inflow of low priced high-end electronic components and products in APEJ is another key factor significantly impacting the smartphone market in the region. MEA is projected to be the fastest growing market over the forecast period, with a growth rate of 13.3%. The MEA region has witnessed rapid urbanization over the last few years and this has subsequently led to an increase in the number of consumers willing to purchase high-end smartphones. A rise in the disposable income and increasing demand for consumer electronics has led to a growing adoption of smartphones in the MEA region and this trend is expected to continue during the forecast period.

 

The report also profiles some of the leading smartphone companies operating in the global smartphone market. Key market players featured in the report include

  • Samsung Electronics Co., Ltd.
  • Apple Inc.
  • Huawei Technologies Co., Ltd.
  • Lenovo Group Limited
  • LG Electronics Inc.
  • TCL Communication Technology Holdings Limited
  • ZTE Corporation
  • Vivo Communication Technology Co. Ltd.
  • Other

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Global Smartphones Market 2020 with COVID-19 After Effects – Growth Drivers, Top Key Players, Industry Segments and Forecast to 2026

Smartphone Buying Guide - How to buy the best mobile phone | Digit

Global Smartphones Market Size, Status and Forecast 2020-2026 is the latest skillful and deep analysis of the market’s present situation and prospects. The report displays the market size, share, status, production, cost analysis, and market value with the forecast period 2020-2026. The report offers an insightful take on the historical data of the market and compared it with the current market situation. The report includes analysis of an assessment of current market trends and dynamics, which helps in mapping the trajectory of the global Smartphones market. It comprises information about the top key players, sales, revenue, future trends, research findings, and opportunities. The report studies the competitive landscape read of the business.

Our best experts have surveyed the market report with the reference of inventories and data given by the key players: Apple, Blackberry, Fujitsu, Google, HTC, Huawei Technologies, Lenovo, Motorola Mobility, LG Electronics, Microsoft, Mozilla, Samsung Electronics, Sony Mobile Communications, Xiaomi,

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NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.

Growth Prospects:

The report demonstrates insights associated with the overall present and future market scenario. This and the past performance enabled them to come out with an outlook for the period 2020 – 2026. The report includes revenue generated from the existing market players and based on all players. The total market size is also derived. The report comprises an in-depth study of the potential segments including product type, application, and end-user, and their contribution to the overall market size.

Market research supported product sort includes:

  • Android System
  • IOS System
  • Windows System

 

Market research supported application coverage: Students, Business People,

Regional and Country- Level Analysis:

Different geographical areas are studied comprehensively and an economical scenario has been offered to assist new entrants, leading market players, and investors to regulate emerging economies. The top producers and consumers focus on production, product capacity, value, consumption, growth opportunity, and market share in these key regions, covering: North America (United States, Canada, Mexico), Asia-Pacific (China, Japan, South Korea, India, Australia, Indonesia, Thailand, Malaysia, Philippines, Vietnam), Europe (Germany, France, UK, Italy, Russia, Rest of Europe), Central & South America (Brazil, Rest of South America), Middle East & Africa (GCC Countries, Turkey, Egypt, South Africa, Rest of Middle East & Africa)

What Market Factors Are Explained In The Report?

To conclude up, as per the study of the global Smartphones market report client gets point by point and confirmed data about the business. The report covers the different significant focuses which are useful to comprehend the global market, such as significant drivers for development, different components which make a negative effect on showcase development, current market patterns, and then notice the market estimating for the coming a very long time till 2026.

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Reasons to Get This Report:

  • Analyze competitive landscape based on comprehensive applications share evaluation
  • Understand the general market scenario and also the essential industries.
  • Market landscape, current market trends and shifting applications technologies which may be helpful for the businesses that are competing in this market
  • Identify major factors affecting the growth of the global Smartphones market

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This report can be customized to meet the client’s requirements. Please connect with our sales team ([email protected]), who will ensure that you get a report that suits your needs. You can also get in touch with our executives on +1-201-465-4211 to share your research requirements.

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