India To Become 2nd Largest Smartphone Market By 2019
Smartphones are drastically changing the way we communicate. India, which sees a high growth potential in this segment, is likely to surpass the United States to become the second largest smartphone market by 2019, according to a latest report by global market research firm Strategy Analytics.
Beating the slowdown trends, global smartphone sales will grow 13% in 2015, it added. “China and the US will remain the largest smartphone sales countries by 2014, making up 43% of global volumes,” the report said.
In another report by IDC, the research firm states that the growth potential for low-cost and big screen smartphone phones is very high in the India, as it notes that low price models and continuous migration from feature phones to smartphones are key factors contributing to the growth.
According to IDC, in Q2 2014, vendors shipped a total of 18.42 million Smartphones compared to 10.02 million in the same period of 2013. The sub $200 category of the smartphone market is increasing in terms of the shipment share as the contribution from this category stood at 81% in Q2 2014. With the influx of Chinese vendors and Android One phones as well as Mozilla’s plans to enter the smartphone category at $50 level, the low end segment of the smartphone market will become crucial in the coming quarters.
“While Samsung has held on to its leadership position in the market, it is noteworthy that Micromax is growing faster. Samsung needs to continue to address the low-end of the market aggressively, and also needs a blockbuster product at the high end to regain momentum. Given the current growth rates, there is a real possibility of seeing vendor positions change in the remaining quarters this year,” Jaideep Mehta, Vice President and General Manager - South Asia, IDC notes.
The world’s top 20 countries will account for 80% of the global smartphone volumes in 2015, up from 75% in 2007, says Strategy Analytics stating that Asia Pacific will continue to drive growth, accounting for 54% of the global volumes in 2015. Emerging markets like Central Latin America and Africa Middle East will see strong smartphone growth by 2020 and will play the role of a new growth engine for global market, it says.
- India Launches Blockchain Foundation To Accelerate Growth
- Artificial Intelligence Transforming India's Education Sector
- Cyber Security Jobs At Premium As India Goes Digital
- What Makes Samsung Bullish On India Market?
- Trends In Information Management: An India Perspective
- Predictions for RPA in Financial Services in 2018
- RBI Reiterates Its Warning On Bitcoins
- How CIOs Can Ensure A Seat At The Strategy Table
- Xiaomi To Make Fresh Investments, Set Up More Plants In India
- Infor Looks To Triple Its India Revenue By 2020