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2016-2024 Smartphones Market Share

The report profiles some of the leading companies operating in the global Smartphone Market and provides information on their market share
Global Market Study on Smartphones: Android OS
to Account for 50.7% Value Share in 2016
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Report Media Releases
Global Smartphone Market Revenue to Register a CAGR of
7.9% by 2024 Owing to Increasing Demand for Android and
iOS; APEJ Slated to be the Largest Market by 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
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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
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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 mcommerce particularly among the working population, and this has increased the demand for
smartphones with top-notch features supporting m-commerce. Growing internet penetration,
Global Smartphones Market 2016-2024
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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
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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
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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.
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),
Global Smartphones Market 2016-2024
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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
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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.
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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, and Vivo Communication
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Technology Co. Ltd.
Global Smartphones Market 2016-2024
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Global Smartphones Market 2016-2024
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2016, Smartphone Market, Global Smartphone Market
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