Over the next 5 years, Linux is expected to be the fastest growing Smartphone operating system at a growth rate in excess of 75%, according to ABI Research.

A new report forecasts that Linux-based OS will account for nearly 31% of all smart devices in the market by 2012 — representing more than 331 million cumulative shipments over the same period.

“Serious initiatives from the likes of Intel and Access are gathering pace and momentum, whilst the carrier community continues to identify Linux as one of the few operating systems that it intends to support in its long-term plans,” said research director Stuart Carlaw.

Another indicator is the the expanding membership of the LiMo Foundation, an industry group that was established in January of this year with the stated goal of developing a common Linux Platform.