We will talk about India’s smartphone market today, which is bound to hit a new mark in 2025. This market could be more than $50 billion!
This growth is mainly due to the growing demand for premium smartphones, the availability of global brands, and digital adaptation.
The counterpoint research and other sources say that the Indian smartphone market will hit its peak. In this blog post, we shall know about India’s Smartphone Market in some depth.
India Smartphone Market Valuation Growth
India’s smartphone market will grow to $50.3 billion (about ₹4.3 lakh crores) by 2025, Counterpoint Research’s “India Smartphone Outlook” report suggests. The market size of this is $37.9 billion (₹3.2 lakh crores) in 2021. It illustrates why the smartphone market is growing fast in India.
Average Selling Price (ASP)
Over the next 4 years, the smartphone market in India will see its ASP touch the $300 (roughly ₹26,000) level for the first time. That means premium smartphone consumers are looking for higher quality and better specifications.
Increasing Demand for Premium Phones
Apple and Samsung’s Dominance:
The premium phone segment is led by brands like Apple and Samsung, according to the report. Apple’s pro phones are expected to be the hot item since they are manufactured not only in India but also in cheaper supply chains. In turn, Samsung’s value session can also get it to sell more phones, particularly its Galaxy S series.
OnePlus is also Preparing:
OnePlus is also vying to be in the ultra-premium segment. They are hoping to gain a stronger hold in this segment with the launch of the OnePlus 13.
What about Other Brands?
Oppo and Vivo are also in the race: Brands like Oppo and Vivo are attracting customers with phones with good cameras and designs in the segment of Rs 30,000 to Rs 45,000.
Growing Share of Premium Segment: According to the report, the premium segment can have more than 20% market share in 2025.
Conclusion
India’s smartphone market is on track to reach a record-high valuation of $50 billion by 2025.
The growing demand for premium smartphones, the advent of 5G technology, and the value-focused strategies of OEMs are the key factors driving this growth.
However, supply chain issues and semiconductor shortages could pose some challenges.