Global Smartphone Market 2019 To Reach Valued At $ 363.4 billion And Grow At A 7.5% Cagr Forecast To 2024

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PUNE, MAHARASTRA, INDIA, December 3, 2019 / — Smartphone Market 2019-2024

Market Overview:

Telecommunication is considered one of the fastest expanding industries in the world, where the deployment of the Internet of Things is revolutionizing the lifestyle as well as the way of communication. Smartphone connection with other smart devices is changing the lifestyle of the people globally. Major industry players are highly investing in developing operating systems and are using high-end sensors in order to provide ease in usability of the devices for the consumers. Moreover, industry behemoths are introducing innovative products in the market, which is estimated to drive the demand for smartphone across the globe. Also, several applications developed to help monitor customer’s fitness will further augment the global smartphone market growth during the assessment period.

Moreover, emerging android vendors, especially in developing nations such as, China are acquiring market share of players such as, Apple and Samsung, which is estimated to benefit the market worldwide. Also, improved battery life along with extra-storage space offered by the industry players will augment the growth of the Chinese smartphone market.

On the contrary, saturation of developed economies are however likely to impact the growth of the smartphone market negatively, thereby impacting its growth curve.

The global smartphone market is valued USD 363.4 billion in 2016 and is projected to witness over USD 3.6 billion units shipments of smartphones by the end of 2024. The global smartphone market is anticipated to grow at a CAGR of 7.5% during the forecast period.

Key Market Players:

Apple Inc.
Samsung Electronics Co. Ltd.
Huawei Technologies Co. Ltd.
Lenovo Group Limited
LG Electronics Inc.
Vivo Communication Technology Co. Ltd.
Sony Corporation
TCL Communication Technology Holdings Limited
ZTE Corporation
HTC Corporation
Microsoft Corporation

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Segmental Analysis:

The global smartphone market has been segmented on the basis of price, operating system, and distribution channel.

By price, the global smartphone market is segmented into low-range, mid-range, and high-range.

Based on the operating system, the global smartphone market is segmented into iOS, Windows, Andriod, and others.

The distribution channel of the smartphone market comprises offline and online. Of these, consumers prefer offline distribution channel as they provide one-stop shopping convenience. Moreover, they are reliable as customers can have a look at the item before getting it home. Meanwhile, the proliferation of the e-commerce segment has propelled the growth of the online channel. Online shopping offers multiple options to chose from and delivers items to the doorsteps. This has further benefited the growth of the online distribution channel of the smartphone market.

Regional Insights:

Geographically, the smartphone market spans across Latin America, North America, Asia Pacific, Europe, the Middle East & Africa, and the Rest of the World (RoW).

Considering the global scenario, the smartphone market in the Asia Pacific is estimated to command the largest share and is predicted to retain its pole position over the forecast period. The regional growth can be attributed to the presence of countries such as China, accounting for the largest selling of smartphones worldwide. Moreover, China is likely to launch 6G technology in the next few years, which has further bolstered the demand for the smartphones market globally.

On the other hand, regions such as, the Middle East & Africa and Europe are likely to procure a substantial share of the global market during the assessment period. In Europe, economies such as, France, Germany, and the Great Britain are bolstering the demand of smartphones, thereby propelling the demand for the smartphones market during the assessment period.

North America is another prominent region for the smartphones market as this region is an early adopter of technology, which has propelled the demand for the same.

Table of Contents:

1. Executive Summary

2. Research Methodology

3. Regional Opportunity Analysis on the basis of Competitors

4. Global Smartphone Market (USD Billion) and Forecast Analysis, 2016-2024

5. Market Dynamics: Growth Drivers, Restraints and Opportunities

6. Global Smartphone Market Segmentation

7. Competitive Outlook

8. Porter’s Five Force Model

9. Market Landscape: Competition and Beyond

10. Market outlook for business players and entry level players to ascertain their business in dynamic ecosystem

11. Expert Analysis

12. Concluding Remarks


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Source: EIN Presswire