Smartphone volume to expand between 2016 and 2024

September 21, 2016 // By Jean-Pierre Joosting
According to Persistence Market Research the global smartphone market is projected to register a healthy CAGR of 7.9% in terms of value and 5.8% in terms of volume during the forecast period 2016 to 2024.

On the basis of operating system, the iOS segment is anticipated to account for US$ 584.9 billion by 2024, registering a substantially high CAGR of 9.1% over the forecast period with a relatively high value share of 59.8%. The Android segment is expected to follow closely with a value share of 47.6% and a CAGR of 6.7%. In terms of volume, the Android operating system is estimated to account for the largest market share of 69.3% in the global smartphone market by the end of 2016 and is expected to increase to 70.0% by 2024.

The Android segment is estimated to account for 50.7% value share in 2016 while the iOS segment is estimated to account for a revenue share of 46.2% in 2016. In terms of value, the Android segment is likely to register a high CAGR between 2016 and 2024 and this can be attributed to an increase in the demand and supply of reasonably priced android smartphones.

The Blackberry Operating System segment is estimated to be valued at US$ 7,563.1 million in 2016 while the Windows Operating System segment is estimated to be valued at US$ 8,819.9 million in 2016.