The Indian smartphone industry may have experienced a snag due to component shortages, but the robust industry is on track to ship 190-200 million units by 2022, with more than 5G gadgets competing for consumers' attention.
When the pandemic drove individuals to stay indoors, smartphones became their window to the outside world, allowing them to stay in touch with friends, Work from Home (WFH), and even learn new recipes. As individuals adopted hybrid work methods, binge-watched web series, and made countless 'Reels' pass the time, demand for smartphones skyrocketed, despite supply concerns.
According to data, the Indian smartphone market has been on a steady upward trajectory for the past five years, with 158 million devices sold in 2019.
The market had a modest decline as a result of COVID-19, demonstrating its resiliency. "The market is now poised for a period of rapid expansion, with the true potential of the Indian market being realized in the coming years, with the 200 million marks being reached in 2022," she said.
Anand Priya Singh, Cybermedia Research (CMR) Analyst – Industry Intelligence Group, predicted that smartphone shipments would remain around 187-190 million in 2022, with 5G device shipments increasing year over year from 28 million in 2021 to roughly 64 million in 2022.
Which is the biggest mobile market in India?
Xiaomi is the market leader in India's smartphone market, growing 6% YoY in Q1 2020 to reach its highest market share since Q1 2018. Vivo grew 40% year over year in Q1 2020, owing to the high success of its Y series products.
