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Deloitte predicts tech market in India for 2016
Posted on: 30/Jan/2016 2:22:46 PM
A report has said that India is the highest market for used phone handsets. The consultancy firm Deloitte has said that the country may generate up to $1.7 billion for owners of handsets this year alone.
Deloitte India released its TMT predictions for 2016. Growing at a CAGR of about 32 per cent till 2020, the used smartphone market is forecast to grow to about 46 million units generating an estimated USD 4 billion for its owners, it said.
India`s market for smartphones is third in world, following China and the US. Experts have said that India may overtake the US over the next few years. High consumption by youngsters and falling data prices are the attributions.
India is expected to have some participation in (the wearable devices) segment. Fitness trackers and smartwatches will see mass adoption in the coming years and expect safety devices geared towards location tracking and emergency assist to also see significant adoption, said the report. Social media will power the boom in mobile commerce. Mobile ad spends are expected to grow from current 2-4 per cent to 15-20 per cent of the overall media expenditure by 2020. With telecom operators launching 4G and hi-speed Wi-Fi services, mobile-based internet connections are set to surge, which will also fuel growth in social media users.
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