India's smartphone market size is expected to reach US$ 281 billion and grow with a CAGR of 10.5% by 2028 as per a report by Research and Markets. According to initial findings from IDC's Worldwide Quarterly Mobile Phone Tracker, 35 million smartphones were shipped to India in 2Q22 (April-June), a 3% year-over-year (YoY) growth, while the first half of 2022 declined by 1% YoY to 71 million units. These figures are a reflection of the evolving consumption pattern where we are witnessing a high penetration rate across segments of society and age groups. The pandemic has given an unprecedented thrust to the user market with more and more services being enabled digitally and used through mobiles. The handheld device has visibly moved from a 'Fun' factor to a 'Functional' device.
ZEE5, recently shared an online smartphone trends report released as a part of the ZEE5 Intelligence Monitor knowledge series. Sharing insights from the report and a perspective on the evolving usage of smartphones and growth drivers, Rajiv Bakshi, Chief Operations Officer, Revenue, Zee Entertainment Enterprises Limited (ZEEL), believes with 5G rolling out, the smartphone ecosystem is going to have a watershed moment. Users had found their one-stop-shop entertainment on their personal smartphones which is going to be turbocharged with 5G.
To get a perspective on the adoption opportunities around Smartphones ecosystem, Minu Sirsalewala, Executive Editor, Special Projects, interacted with Rajiv on the evolving consumption pattern and the driving factors fuelling growth and innovation. Also delving into how sensitive is the community to the growing e-waste peril? Edited excerpts of the interview follow:
✓ There is a visible shift in the smartphone consumption ecosystem. Where do you see the next big opportunity? Which high-growth verticals are instrumental in this disruption?
This story is from the September 2022 edition of PCQuest.
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This story is from the September 2022 edition of PCQuest.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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