India to Become The Second Largest Smartphone Market By 2017
India, the world’s 7th largest country and with the second largest population in the world, may soon have one more tag to its name. According to a study conducted by Strategy Analytics, an international research firm, India is on the road to becoming the second largest smartphone market in the world by 2017.
The first position will be held by China, but India will push down USA from the current second place to the third place in the smartphone sector. Linda Sui, director at Strategy Analytics, says
China has been the engine of global smartphone growth in recent years, but China is now maturing and slowing. India is fast becoming the next major growth wave. We forecast 118 million smartphones will be sold in India in 2015, increasing strongly to 174 million in 2017.
The rise of the smartphone industry in India has been directly proportional to the Internet growth here. As of 2014, India had 243 million people in the Internet grid, the third largest in the world. The US had 279.8 million online in the same year, putting it in the second place.
Linda Sui added that India is driven by the growth of low smartphone invasion, expanding retail availability of devices, prosperous middle-class consumers, and dynamic advancements from local smartphone brands like Micromax.
According to the report, 118 million smartphones will be sold in India this year. About 458 million smartphones will be sold in China in 2015 and will rise steadily to 505 million in 2017. About 164 million smartphones will be sold in the US in 2015, climbing marginally to 169 million in 2017.
Clearly, we can see that in the past decade, US was in the middle of the tech world. But now, companies are trying to get into different and untouched markets in many ways, since most of them are at a disadvantage to the local brands, anyways.