Giant leap: ‘India to have over 500 million smartphone users by 2022’

By: | Published: October 24, 2018 3:36 AM

According to the latest numbers from Counterpoint Research, smartphone users in India surpassed the 400-million mark in June this year with the sector being relatively under-penetrated compared to other markets.

India to have over 500 million smartphone users by 2022

Growing internet penetration in India — the world’s second largest smartphone market — is expected to spur smartphone use and the number of users of these devices is likely to cross the 500-million mark in the next four years, a report by industry body IAMAI said.

“By the year 2022, India is expected to become a country of 1.4 billion people. With proliferation of affordable internet connectivity, the number of internet users in the country is projected to increase 1.6 times from 481 million to reach 762 million in 2022. Along with increased availability of internet connectivity, the number of smartphone users in India too is estimated to grow at 1.75 times to reach 526 million in 2022.” the study revealed.

According to the latest numbers from Counterpoint Research, smartphone users in India surpassed the 400-million mark in June this year with the sector being relatively under-penetrated compared to other markets.

The report, ‘Economic Impact of Internet Services in India’, suggests that internet services sector in India, which at present is valued at $33.8 billion, will reach $76.4 billion by 2022.

“The sector can reach its potential $24 billion if certain critical factors are realised, such as forward looking and supportive government policies, better infrastructure for widespread internet connectivity, developed distribution network enabling better reach and connectivity to customers in Tier II/III cities for e-commerce, adoption of digital and advanced technologies across the ecosystem and offline sectors etc,” the report suggested.

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