India Mobile Market to Exceed $37 Billion by 2012
A report just released by Gartner, Inc. spells out how fast the rate of penetration is expanding throughout India. According to the report, cellular services is projected to surpass $37 billion as early as 2012. This makes India’s market the fastest growing in the world.
The market is also predicted to exceed 737 million mobile connections or subscriptions. This will be achieved if the country continues to grow at its current compound growth rate of 18%.
In 2007 the cellular market penetration was 19.8%; by 2012, expect that number to balloon up to 60.7%.
A large factor in the success of this market is the increasing focus on rural areas, lower handset prices and prepaid services. Most vendors focus on handsets that cost less than $25, and prepaid subscribers account for 89% of the market. This number will increase to 92% by 2012.
The final numbers crunched by Gartner, Inc. shows that churn rates of the market will also increase from 41 to 49 per cent, despite a more mature market.
via India Times via IntoMobile
Enjoyed the story? Get the news and updates as we publish them. For instant updates as we press the "Publish" button, click here to follow us on Twitter . To subscribe to RSS News Feed click here , for daily e-mail updates click here .If you liked the post, you might find these interesting too:
- European 3G subscriber count reaches 100 million
- Vodafone to sell iPhone 3G in India starting August 22nd from $708 up
- HTC Touch Pro and HTC Touch Viva launched in India
- O2 to Offer iPhone 3G with Prepaid
- India to finally get iPhone with … 3G on BSNL
« Sony Ericsson W595 leaked and spec’dVirgin Mobile Intros the TNT! »