The research report provides deep insights into the global market revenue, parent market trends, macro-economic indicators, and governing factors, along with market attractiveness per market segment. The report provides an overview of the growth rate of India Smartphone Market during the forecast period. Most importantly, the report further identifies the qualitative impact of various market factors on market segments and geographies. The research segments the India Smartphone Market on the basis of product type, application, technology, and region. To offer more clarity regarding the India Smartphone Market Industry, the report takes a closer look at the current status of various factors including but not limited to supply chain management, niche markets, distribution channel, trade, supply, and demand and production capability across different countries.
India Smartphone Market Overview:
This study looks at the market growth drivers and roadblocks for the manufacturer, as well as an assessment of the market’s firm strategies, procedures, and financially sound and grow plan. Individual customer requirements can be satisfied through customization and a deep understanding of market opportunities. TheIndia Smartphone Market provides a comprehensive overview of the market’s competitive landscape and key players. This report can assist with structural planning in light of current industry conditions.
Expected Growth Value Of India Smartphone Market :
India Smartphone Market was worth 173 Mn Units in 2020 and total revenue is expected to grow at a rate of 14 % CAGR from 2021 to 2027, reaching almost 432.89 Mn Units in 2027.
As per the forecast period 2021-2027, the India Smartphone market is expected to grow at a steady rate of between 2021 and 2027. This study covers the India Smartphone market and provides a value-based analysis and estimate. This study and analysis of market drivers, restraints, and opportunities affecting the growth of the India Smartphone Market is included in this report. The global market has been segmented into four categories: type, source, end-user, and geography (country-wise). The scope of the research is a strategic analysis of the India Smartphone market in terms of individual growth trends, future prospects, and the contributions of important sub-market stakeholders. India Smartphone market analyses and forecasts for five key regions: North America, Europe, Asia Pacific, the Middle East and Africa (MEA), and Latin America, as well as country-by-country segmentation. Major industry participants’ profiles, as well as their strategic orientations, market positioning, and core competence analysis, are offered. The top players in the India Smartphone Market are also profiled, with details on their recent competitive advancements, investments, strategic growth, and competitive landscape.
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India Smartphone Market Dynamics:
Consumption of online entertainment has increased significantly as internet speeds have improved. YouTube, Netflix, Amazon Prime, and a slew of other services provide a wealth of entertainment alternatives that are conveniently accessible via smartphones. Smartphones are now widely used for online education and shopping in the post-COVID-19 age, in addition to leisure. In addition, the Indian government’s “Digital India” efforts are paving the way for a variety of mobile apps and services. This will increase smartphone usage and popularity among Indians.
The existing administration has set out to develop the country into a worldwide manufacturing hub under the broader programmer of ‘Make in India’ and the National Policy on Electronics 2020 (NPE 2020), with electronics manufacturing being one of the top aims. With mobile phones currently becoming one of the most essential electronic gadgets, there is a policy push to expand the country’s mobile phone manufacturing and assembly operations. According to the NPE 2020, a manufacturing target of 1 billion mobile phones by 2025 is expected, with 600 million units destined for export.
The government launched the Phased Manufacture Program (PMP) in 2017 to minimize reliance on imports and enhance indigenous mobile phone manufacturing. The government imposed a 10–15 % customs levy on parts and components imported under this plan. Despite the PMP, a significant migration in component manufacture to India did not occur in 2020, with India accounting for barely 5% of the global mobile phone industry. It also imposed zero tariffs on the identical products if they were imported from Vietnam, Japan, or South Korea, defeating the aim of the policy. TATA GROUP: To take advantage of the government’s PLI scheme, the company plans to invest Rs. 11,000 crores in a new mobile phone and component manufacturing unit in Tamil Nadu.
Precision Farming Market Segmentation:
Based on Internet Speed, the market is sub-segmented into 2G, 3G, 4G and 5G. In 2020, 5G smartphones accounted for 3% of the overall market. India has already surpassed the United States as one of the top markets for 5G smartphone despite the lack of a 5G network. Because 5G remains one of the most desired features in a smartphone, total 5G smartphone in India are expected to range between 32 million to 40 million units in 2021. The cheapest 5G smartphone in the Indian market costs between Rs 15,000 and 16,000 (US$ 200 and 220).
Based on Distribution Channel, the market is sub-segmented into Online and Offline. Increased sales through online channels: Sales of smartphones through online channels increased in 2020 as a result of COVID-19-induced lockdowns. According to IDC, internet channels rose by 12% year over year in 2020, accounting for 48% of total sales. Increased throughout the festive season and offline channels had a 5% YoY growth in the fourth quarter of 2020. A craze of internet shopping is driving the online India smartphone market. Rapid expansion and aggressive sale of online channels like Paytm, Amazon, and Flipkart are fueling the growth. Strong online exclusive portfolios are driven by brands like Xiaomi, Honor, Realme, Asus and One Plus.
Some prominent players in the India Smartphone Market:
• OnePlus Technology Co. Ltd.
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Regional Insights on India Smartphone Market :
The several sections on regional segmentation provide information on the regional characteristics of the India Smartphone Market. This chapter discusses the regulatory environment that will have an impact on the market. It highlights the market’s political landscape & anticipates its impact on the worldwide India Smartphone Market industry. Global brands’ presence and availability, as well as the problems they face from fierce competition from local & domestic brands, the influence of domestic tariffs, and trade channels, are all considered. The India Smartphone Market report examines the five areas & their distribution by country:
North America – (U.S., Canada, and Mexico)
Europe – (U.K., Germany, France, Spain, Italy, Sweden, CIS Countries, and Rest of Europe)
Asia Pacific – (China, India, Japan, South Korea, Australia, ASEAN, and Rest of APAC)
Middle East & Africa – (South Africa, GCC Countries, Nigeria, Egypt, and Rest of ME&A)
South America – (Brazil, Argentina, Colombia, and Rest of South America)
COVID-19 Impact Analysis on India Smartphone Market:
The recovery phase of the COVID-19 outbreak has come to an end over the world. Maximize Industry Research has released the India Smartphone Market Status, Trends, and COVID-19 Impact Report 2021, which gives a detailed look at the India Smartphone market in light of the present economic situation.
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The report provides insights on the following:
- Market Penetration: Offers complete information on the market offered by the key players
- Market Development: Provides in-depth information about emerging market trends and analyses the markets
- Competitive Assessment & Intelligence: Provides a comprehensive assessment of market shares, strategies, products, and manufacturing capabilities of the leading key players operating in the market
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