You are currently viewing Reports: Indian 5G phone Market to Enlarge beyond 70% by December 2023

Reports: Indian 5G phone Market to Enlarge beyond 70% by December 2023

Since its introduction in 2020, the Indian smartphone market has recorded a massive growth of 13 times in its 5G shipments. The industry reports indicated on Tuesday that the Indian 5G smartphone market is expected to expand by more than 70 percent by the end of the Calendar Year 2023. Looking at the developments in the smartphone industry with several new models being introduced from various manufacturers and also the number of smartphone users having grown considerably, the Indian smartphone market registered this overwhelming growth.

Meena Kumari Analyst-Industry Intelligence Group (IIG), CyberMedia Research (CMR) said, “The rising graph began with just a four percent growth in the calendar Year 2020 to reach a potentially more than 45 percent market share in the next calendar year by December 2023, 5G smartphones have definitely come a long way.”

Approximately 100 5G smartphones were launched in the calendar year 2022 in the Indian market. She added, “In 2023, we anticipate close to 75 percent of the new smartphones to be introduced in the India market to be 5G-capable.”

The calendar year 2022 was led by Vivo, OnePlus, and Samsung in the 5G smartphone shipments. realme and Xiaomi were the major contributors in the 5G value-for-money price segment that generally ranges between ₹10,000-₹25000 respectively. Speaking on the developments, Shipra Sinha, Analyst-Industry Intelligence Group (IIG), CMR, said, “Going forward, we anticipate further momentum for 5G smartphone shipments in the new year driven by strong consumer demand and aggressive 5G network deployment by Indian telcos.”

The possible introduction of 5G smartphones in the affordable segment of lesser than ₹10,000, could be one of the key influencing factors in the mass adoption the 5G services in India.