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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 ), 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 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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