The smartphone market will be dominated, in the next few years, by Apple – at least this is what the market research firm Generator Research states. According to them, Apple should be able to account for about 40 percent of the global market, courtesy of its cash reserves, although there are several companies that already announced devices meant to compete with the iPhone.

“With cash reserves exceeding $34billion, 33% gross margins and the iPhone just about to enter its fastest-growth phase, Apple has the resources, competencies and motivation to invest in the mobile sector just at the time when the economic climate is forcing many established players in the mobile industry to cut back on product development,” said Andrew Sheehy, Generator head of research.

At the same time, if Apple places itself in a better position, the move could cause Nokia's share of the smartphone market to drop from the currently 40 percent it owns to around 20 percent by 2013. We should note that Nokia's share on the U.S. market has been already lowered from 15 percent about 18 months ago to merely 8 percent today.

According to Generator Research, Apple could be able to sell around 77 million iPhones by 2013, which would also include several other models released for different market segments. “Our analysis is that the iPhone and App Store constitute a vertical platform for the delivery of advanced mobile services that will be developed in a similar manner to how Apple developed its digital music platform, which included the iPod and the iTunes Music Store,” added Sheehy.

On the other hand, the mobile phone market was already forecast to see only a small growth during the next few months. The smartphone segment was also announced to be affected by the global economic downturn, making it easier for big industry players like Apple to gain more market share.