Smartphone has become ubiquitous in our personal and professional lives. It offers the users a host of advanced features such as digital voice services, high pixel camera features and includes the characteristics such as texting, web browsing, emails, music players, and video calling among many others.
Smartphone market would indirectly add more than 400m new users of internet-enabled phones to the global network, taking India ahead of the US to make it the second-largest country for smartphone use in the world. According to the report, he market would grow at 41.26 % CAGR in terms of revenue through the forecast period 2013-2018. It is estimated that the growth of the market is so explosive that market analysts opine that market in India has reached the same point that the Chinese smartphone market was at by the end of 2013.
Competition among the vendors is intense and global manufacturers are seen losing the revenue to the indigenous smartphone manufacturers.
China remains dominant in terms of raw shipment statistics, but India is where growth is now concentrated and that trend is likely to remain so in the next decade. The Korean manufacturer, Samsung Electronics Co. Ltd continued to dominate the market in the APAC region in terms of revenue. Other leading vendors in the smartphone market in APAC are Micromax, Intex and Xiaomi. There is an intense competition among Samsung and Micromax to retain the top slot among Indian consumers; it remains to be seen the mix of business strategies implemented by each to gain the top slot in the coming years. According to various reports on the growth of smartphone in India, it can be inferred that Micromax is the top smartphone vendor in India currently.
A recent report by Research Beam on global smartphone market segments the market into various geographical regions such as the Americas, APAC and EMEA with a special focus on US, India, China, Russia and Germany. According to the report the global smartphone market would witness tremendous growth in the APAC region with the maximum growth in the number of users in the country of India and China.
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