Ever since the beginning of 2020 the world has been affected with COVID-19 and one of it’s positive consequences has been the grow of the digital markets.
Like every market, the smartphone market has also emerged in the online form and as a result the online market for mobile phones accounts for 26% of the total smartphone market globally.
India has the biggest online smartphone market where 45% of the smartphones sold are bought online. Following India come United Kingdom having a online smartphone market share of 39% after which comes China having 34% of it’s smartphone market being online.
This ongoing trend of purchasing smartphones online has been emergent since the beginning of the third quarter of 2020, starting from the United States to European markets or from the emerging Indian markets to South American markets. Digital market has been on the rise for quite a while now.
Although in China the online smartphone market reached it’s highest point within the first 6 months of 2020, India and United Kingdom saw a similar peak in the 2nd half of 2020.
Senior Analyst Sujeong Lim from Counterpoint stated “After the rapid growth in 2020, we expect 2021 to see some easing after the COVID-19 vaccination. However, it is expected to grow slightly every year from 2022 onwards, supported by growth in emerging markets and the middle-aged population becoming more accustomed to IT devices and internet use,”
“But in the case of India, which currently has the highest online proportion, it may decrease to a certain level after 2022 due to the development of offline infrastructures such as multi-brand stores and large-scale retail stores. On the other hand, the future growth of the online market in SEA and MEA is noteworthy,”