Persistence Market Research presents an eight-year forecast of the global smartphone market in a newly published report. The primary objective of the report is to study market trends and drivers and offer updates on market opportunities in the global smartphone market for the forecast period 2016–2024. For ease of understanding of market dynamics and projections, the report is categorically divided into three sections that analyze the global smartphone market on the basis of Operating System, Distribution Channel, and Region. The report provides insights into market performance and analyzes the global smartphone market in terms of market value and volume over the forecast period.
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 expenses 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).
The report begins with an overview of the global smartphone market. This section includes an in-depth analysis of key trends, drivers, and restraints from the supply, demand, and macroeconomic perspectives. Impact analysis of key growth drivers based on the weighted average model are included to provide deeper insights for informed decision making. The subsequent sections analyze the market on the basis of operating system, distribution channel, and region, and present a forecast in terms of volume and value for the next eight years.
To deduce market size, the report considered the average selling price of various types of smartphones across geographies. Data points such as regional split and market split by operating system and by distribution channel; and qualitative inputs from primary respondents have been incorporated to arrive at suitable market estimates. The forecast presented in the report evaluates the total revenue expected to be generated across the smartphone market over the forecast period (2016–2024). Given the ever-fluctuating global economy, the report presents forecasts conducted not only in terms of CAGR, but also on market analysis based on key parameters such as Year-on-Year growth to understand the predictability of the market and to identify the right market opportunities.
The different segments of the global smartphone market have been analyzed in terms of Basis Points (BPS) to understand the individual segments’ relative contribution to market growth. This detailed level of information is important for identification of several key trends likely to impact the global smartphone market. Another key feature of this report is the market revenue forecast in terms of absolute dollar opportunity, something that is usually overlooked while forecasting the market. Absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales perspective. Persistence Market Research has also developed a market Attractiveness Index to understand key market segments in terms of growth and performance. This index is intended to help providers identify real market opportunities.
The report profiles some of the leading companies operating in the global smartphone market and provides information on their market share, along with information and updates on possible strategies for future business growth. Some of the top companies covered by 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.