Global Smart Phone Market Anticipated to Grow at a CAGR of 7.5% during 2016-2024

New York, USA, 2018-Dec-01 — /EPR Network/ — The decrease in average selling price (ASP) of smartphones is the major factor promoting the growth of the Smartphone Market across the globe. In 2016, the ASP of smartphone reported approximately USD 280 which was decreased as compared to 2013, where ASP of the smartphone was more than USD 330. Global smartphone market segmentation has been done on the basis of price, operating system, distribution channel, and geography. The global smartphone market is largely dominated by Asia-Pacific by 34% market share in 2016. Whereas, Europe and Middle East & Africa (MEA) are the fastest growing region in the smartphone market. Europe smartphone market valued USD 67.6 billion in 2015.

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Market Segmentation

On the basis of our in-depth analysis, Global Smart Phone Market can be segmented as follows:

Based on Price

• High-Range
• Mid-Range
• Low-Range

Based on Operating System

• Android
• iOS
• Windows
• Other Operating System (Blackberry OS, Tizen, Sailfish)

Based on Distribution Channel

• Online Channel
• Offline Channel

By Region

• North America (US, Canada) {Market Share (%), Market Size (USD Billion, Adoption Rate (%)}
• Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
• Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of Middle East & Africa) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
• Latin America (Brazil, Mexico and Rest of Latin America) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
• Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
• Rest of the World {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}

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 “Global Smart Phone Market Outlook 2024” contains detailed overview of the global smartphone market. On the basis of our in-depth analysis, market can be segmented in terms of market segmentation by price, operating system, and distribution channel.

Further, for the in-depth analysis, Global Smart Phone Market Report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis. This market report also includes competitive outlook of some of the major players profiling of companies such as Apple Inc., Samsung Electronics Co. Ltd., Huawei Technologies Co. Ltd., Lenovo Group Limited, LG Electronics Inc., Vivo Communication Technology Co. Ltd., Sony Corporation, Motorola, TCL Communication Technology Holdings Limited, ZTE Corporation, Nokia, HTC Corporation, OnePlus, Xiaomi, BlackBerry, Microsoft Corporation,etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments. Overall, the report represents the global smartphone market trends along with market forecast that will help industry consultants, technology providers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.

Global Smart Phone Market is driving on the basis of advancement in mention below industries:

Cloud Services Market

Cloud service is provided to the users on demand or by subscriptions over the internet. Cloud services are provided and designed to ease the process of data handling and to easy access to resources, applications, and services which are completely maintained and managed by the cloud service providers. Cloud Services Market accounted for USD 164.8 Billion in 2016 and the market is expected to reach USD 390.0 Billion by the end of 2024. Further, the market is anticipated to expand at a compound annual growth rate of 11.4% over the forecast period i.e. 2016-2024.

Sensors Market

Sensors are the components in a larger system that collects information about the world, organize the information in an understandable form and then it communicates that information. Sensors technology is widely being used across the world as the most of the cutting edge technologies rely on the functioning of the sensors. Sensors Market is set to harness market revenue of USD 250 billion by 2025 growing at a CAGR of 11.60% over the forecast period (2017-2025).

Chatbot Market

Chatbot Market is expected to reach USD 834.5million by 2025, expanding at a CAGR of 24.5% over the forecast period, 2017-2025. Growing applications and solutions to facilitate customers majorly boost the market growth. Various e-commerce industries are adopting Chatbot for marketing and sales purposes which further impact positively on the revenue of this industry.

Mobile Gaming Market

With the initial launch of the mobile game by Nokia back in 1997, the Mobile Gaming Industry has passed through various technological revolutions and now is a multi-billion industry growing on the back of rising number of Smartphone users across the globe. the global mobile gaming market to grow at a CAGR of 5.4% during the period 2016-2024. Further, the market is likely to reach USD 56.2 billion by the end of the forecast period.

Artificial Intelligence Market

With the digitization, enterprises are witnessed to shift towards smart & innovative technologies. Increasing adoption of advanced technologies by the organizations to read the algorithms and interpret the data is majorly driving the growth of global artificial intelligence market. The Artificial Intelligence Market size is expected to reach USD 14.2 billion by 2024 from an estimated market size of USD 525 million in 2015, growing at a CAGR of 17.2% over the forecast period 2016-2024.

Smart Phone Accessories Market 

Smartphone Accessories Market is driven by fashionable and trendy accessories with advanced innovative technologies. The necessity to protect the smartphone from any damage is one of the major drivers propelling smartphone accessories market globally. Furthermore, rising inclination towards gaming and entertainment application is also increasing the demand for wireless accessories all across the globe.”

Android Apps Market

Growing penetration of smartphones and internet connectivity across the globe is majorly driving the growth of global android mobile apps market. On Google play store 70% of the apps are available to download for free. More the number of applications downloaded will generate higher revenues for the app developers and the Google app stores. Android Mobile Apps Market revenues in 2017.