Asia Pacific to remain more lucrative for smartphones than North America & Latin America combined. Here’s why!

The global market for smartphones is forecasted to surge onward and register a CAGR of 7.9% over the forecast period. Gaining capabilities of smartphone devices are supplementing their prominence in consumer electronics industry. Operational convenience plays an important role in fuelling the demand for smartphones.

Furthermore, availability of effective products for reduced costs makes smartphones a key device for every consumer. Apart from the environmental impact of recycling used smartphones and the undulating risks of faulty production, the global market for smartphones will continue to grow exponentially in 2016 and beyond.

Based on the operating systems, iOS and Android will continue to battle out to procure the leading competitive edge in the global smartphones market. While iOS is restricted to Apple’s iPhones, Android is the most common operating system incorporated by several top players in the market.

As a result, there is wide range of vents to increase influx of revenues from Android smartphones. And, easier compatibility among several regions has made them a widely-preferred operating system in the global market. In 2016, Android operating systems are expected to account for 69.3% share of market volume of global smartphones market.

That may intimidate several competing OS manufacturers, but nor iOS. Being solely dedicated to Apple, iOS has exhibited a credible progress rate in the market, and continues to expand with launch of newer smartphone series by iPhone. Owing to its sole product outlet (Apple’s iPhone), iOS will continue to demonstrate impressive growth and account for 46.2% global revenue share by the end of 2016, reaching about US$ 584.9 Bn market value by 2024.

Based on the distribution channels, OEMs will continue to be the widely-preferred commercial outlet for smartphone manufacturers. In 2016, the market value of OEM segment is likely to reach US$ 221.2 Bn and account for the utmost share among distribution channel segments.

Meanwhile, e-Commerce websites are witnessing higher sales of smartphones over previous year, encouraging smartphone manufacturers to initiate business tie-ups and provide products at discounted prices. As a distribution channel, e-Commerce is likely to register promising growth, anticipating a US$ 175.3 Bn market value by the end of 2016.

The global smartphones market is also segmented into several key regions such as, North America, Europe, Latin America, Asia Pacific Excluding Japan (APEJ), and the Middle East & Africa (MEA), among others. Of all the regions, consumption of smartphones is noticeably higher in APEJ countries. In terms of market value share, APEJ region is likely to contribute 33.7% by the end of 2016. Smartphones are not only pervasively used in APEJ regions but also manufactured at reasonable production costs.

A majority of leading smartphone companies are based in China, and other key players have also shown interests in setting up their manufacturing units in the country. Correspondingly, APEJ’s contribution to global smartphones market is far more than other lucrative regions such as North America, MEA and Latin America combined. Meanwhile, smartphones market in MEA region is forecasted to expand at rampant 13.4% growth rate.

Samsung Electronics Co. Ltd., LG Electronics, Apple Inc., Lenovo Group Limited, ZTE Corporation, Huawei Technologies Co. Ltd., TCL Communication Technology Holdings Limited, and Vivo Communication Technology Co. Limited, among others, are recognized as some of the key players in the global smartphones market.

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Shreyas Deshmukh | Persistence Market Research Pvt. Ltd.
Email Id: shreyas.d@persistencemarketresearch.com
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