Reports from IDC states that India having the lowest smartphone penetration in in Asia/Pacific countries is also the fastest growing smartphone market in the world. Though it only accounts for 2.5% share of the total smartphones shipped globally this year, being the world’s second most populated nation with a billion plus market and a zooming economy, India is poised to grow at 57.5% for the next couple of years making it the fastest growing smartphone market in the world. But even at this phenomenal growth, it would only be garnering 8.5% of the market share in 2016.
With the markets flooded with low-cost smartphones and dropping data tariffs India has a huge untapped growth potential and a lucrative market for the mobile makers of all pedigrees. Faced with intense competition, the data tariffs are poised to nosedive further and though 3G charges are still expensive, it might get cheaper in coming years and also the advent of 4G would drive the market further. Localized apps also plays a key role in fueling the growth.
While India is poised be the fastest growing smartphone market, it’s giant neighbour China is expected to overtake the US as the world’s biggest smartphone market. Commanding a 25.5% share it is comfortably ahead of U.S.’s 17.8%.
Top Five Smartphone Markets and Market Share for 2011, 2012, and 2016 (based on shipments)
|Country||2011 Market Share||2012 Market Share||2016 Market Share||2011 – 2016 CAGR|
|Rest of World||51.1%||46.4%||46.0%||18.1%|
Source: IDC Worldwide Mobile Phone Tracker, 2012 Q2 Forecast Release, August 30 2012
Note: Countries listed in terms of ranking in 2016.