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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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