India 5G phone market to expand over 70 percent by end of 2023: Report

0
1



By the end of calendar year 2023, the 5G smartphone market will expand by more than 70 percent year-on-year. India’s smartphone market registered over 13 times growth in its 5G shipments in 2020, the year of its initial launch. According to Maneka Kumari, Analyst-Industry Intelligence Group (IIG), CyberMedia Research (CMR), “From mere 4 per cent in CY2020 potential to >45 per cent market share in CY2023, 5G smartphones have certainly come a long way. In CY2022, close to 100 5G smartphones were launched in the India market. In 2023, we anticipate close to 75 percent of new smartphones to be introduced in the India market to be 5G-enabled.

Samsung, OnePlus and Vivo to lead the Indian market in 5G smartphone shipments in CY2022. 5G Value for Money (Rs 10,000-25,000) In the price segment, Xiaomi and realme were the major contributors.

In CY2022, there was limited consumer demand due to macroeconomic conditions and relatively limited access to 5G networks. However, with the rapid rollout of 5G networks across Indian cities, consumer interest and awareness towards 5G smartphones is on the rise, according to research insights from CyberMedia Research (CMR). In calendar year 2023, 5G smartphone shipments are expected to grow by more than 70 percent year-on-year.

“As consumers look to switch and upgrade their phones, the inclination towards 5G smartphones is bound to increase. Going forward, we expect further momentum for 5G smartphone shipments in the new year, driven by strong consumer demand and aggressive 5G network deployment by Indian telcos. In CY2023, we anticipate 5G smartphone shipments to grow significantly in the value for money smartphone (Rs 10,000-25,000) segment,” said Shipra Sinha, Analyst – Industry Intelligence Group (IIG), Cybermedia Research (CMR).

The key to mass adoption of 5G in India is, among others, the affordable smartphone segment (

India’s 5G phone market to expand by over 70 percent by end of 2023: The report appeared first on BGR India.



Read full article here

Leave a Reply