MRRSE has added a new research report on the "Global Market Study on Smartphones: Android OS to Account for 50.7% Value Share in 2016" to its collection.
Albany, NY -- (SBWIRE) -- 01/12/2017 -- The global smartphone market is expanding at a rapid pace and 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. In terms of value, the global smartphone market is projected to show healthy incremental opportunity during the forecast period.
Key market drivers and trends
Smartphones are the most demanded electronic devices today owing to a change in the lifestyle of people, where owning a smartphone is not just a necessity but a norm. 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).
Request a Sample Copy of the Report @ http://www.mrrse.com/sample/2341
To differentiate their products from competitors, smartphone manufacturers such as Apple Inc., Samsung Electronics Co., Ltd., Huawei Technologies Co., Ltd., Lenovo Group Limited, and LG Electronics Inc. are investing in the development and production of their own application processor (AP) to maintain market share and margins. With a rising trend of m-commerce particularly among the working population, there is an increasing 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.
Market projections by segmentation
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, expanding at a substantially high CAGR of 9.1% over the forecast period with a relatively high value share of 49.8%. The Android segment is expected to follow closely with a value share of 47.1% 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.
Inquiry on this report @ http://www.mrrse.com/enquiry/2341
By Distribution Channel, the OEM segment is estimated to account for the highest value share of 36.1% in 2016 which is expected to increase to 36.7% by 2024 with a CAGR of 7.9% over the forecast period. The e-Commerce segment is estimated to account for 28.8% revenue share by 2016 and is expected to register the highest CAGRs of 7.8% and 9.3% in terms of volume and value respectively over the forecast period.
The global smartphone market has been segmented on the basis of region into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan, and the Middle East and Africa (MEA). The APEJ region is projected to remain dominant throughout the forecast period. In terms of value, APEJ is estimated to account for a market share of 33.7% in 2016 and is estimated to be valued at US$ 221.96 Bn by the end of 2016. The markets in North America and Latin America are estimated to account for 17.5% and 12.3% value share respectively in 2016. MEA is projected to be the fastest growing market over the forecast period, with a growth rate of 13.4%.
Read Complete Report with TOC @ http://www.mrrse.com/smartphones-market
Top market players
The report profiles some of the leading companies operating in the global smartphone market. The top 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, and Vivo Communication Technology Co. Ltd.
MRRSE stands for Market Research Reports Search Engine, the largest online catalog of latest market research reports based on industries, companies, and countries. MRRSE sources thousands of industry reports, market statistics, and company profiles from trusted entities and makes them available at a click. Besides well-known private publishers, the reports featured on MRRSE typically come from national statistics agencies, investment agencies, leading media houses, trade unions, governments, and embassies.