India to have 1 billion smartphone users by 2026
By MYBRANDBOOK
India will have 1 billion smartphone users by 2026 with rural areas driving the sale of internet-enabled phones. It is poised to be the second-largest smartphone manufacturer in the next five years.
This growth is likely to be driven by the rural sector at a compound annual growth rate of 6 percent, compared with the urban sector growing at a CAGR of 2.5 percent from 2021 to 2026.
A report said, “The smartphone market is expected to reach 1 billion smartphone users by 2026. Higher internet adoption is expected to fuel demand for smartphones; this increased demand will be propelled by the need to adopt fintech, e-health, and e-learning.”
The rural population is expected to demonstrate a similar trend where the average lifespan of a phone is four years. About 80 percent replacements are likely to be for new devices, while 20 percent for pre-owned ones in 2026. Respectively, the replacement of feature phones with smartphones is expected to gradually decrease due to a rise in the number of smartphone users.
The demand for smartphones in India is expected to increase at a CAGR of 6 percent, to reach about 400 million smartphones in 2026 from 300 million in 2021.
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