New Delhi: Being one of the countries driving smartphone growth worldwide, India is set to become the world’s second largest market for the ubiquitous devices by 2017, according to a latest data.
A research by Strategy Analytics indicates that the global smartphone sales are forecasted to grow from 1.5 billion units in 2015 to a record 1.7 billion by 2017.
While China, India, and the United States are the three countries driving smartphone growth worldwide, India is expected to sell 174 million units in the next two years and overtake the US for the second position.
Linda Sui, Director at Strategy Analytics, said, "We forecast 458 million smartphones will be sold in China in 2015, rising steadily to 505 million in 2017. China has been the engine of global smartphone growth in recent years, but China is now maturing and slowing. India is fast becoming the next major growth wave. We forecast 118 million smartphones will be sold in India in 2015, increasing strongly to 174 million in 2017. India's growth is being driven by low smartphone penetration, expanding retail availability of devices, wealthier middle-class consumers, and aggressive promotions from local smartphone brands like Micromax."
The analysts further predicted that the US will be selling 164 million smartphones this year and reach to 169 million in 2017, which will be less than the figure predicted for India.
Woody Oh, Director at Strategy Analytics, added, "India will sell 174 million units and overtake the maturing US market to become the world's second largest smartphone country by volume in 2017. No serious global hardware or software player can afford to ignore the huge Indian smartphone market today."
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