India Surpasses US as 2nd Largest 5G Market: Report

India has recently surpassed the US to become the world’s second-largest 5G mobile market, behind only China, according to a new report. This significant milestone reflects the rapid growth and adoption of 5G technology in the country.

Global shipments of 5G handsets increased by 20% year-on-year in the first half of 2024, as reported by Counterpoint Research. Apple led the charge, accounting for over 25% of these shipments, driven by strong sales of the iPhone 15 and 14 series.

The surge in 5G handset shipments is partly attributed to the growing availability of budget-friendly 5G models, which has spurred high growth in emerging markets. This trend has allowed India to overtake the US in 5G market size.

“India’s rise to the second position in the 5G handset market was propelled by substantial shipments from brands like Xiaomi, Vivo, and Samsung, particularly in the budget segment,” noted Prachir Singh, a senior analyst at Counterpoint Research.

Samsung holds the second spot globally, with a market share of over 21%, thanks to the popularity of its Galaxy A and S24 series. Both Apple and Samsung dominated the top ten list of 5G models in the first half of 2024, with Apple occupying the top four positions.

Emerging markets have seen considerable growth in 5G handset adoption, with consumers in these regions viewing 5G devices as a valuable upgrade. This shift is particularly evident in lower price segments.

The Asia-Pacific region contributed significantly to the global increase, accounting for 63% of new 5G connections and holding a 58% share of total 5G shipments. Both Europe and the Middle East and Africa (MEA) regions also experienced double-digit growth in 5G handset shipments.

Research Director Tarun Pathak highlighted that as 5G handsets become more accessible and 5G networks continue to expand, this trend is expected to persist. The democratization of 5G technology is paving the way for broader adoption and continued growth in the market.

The rapid advancements in 5G technology are set to revolutionize mobile connectivity, offering faster speeds and more reliable connections. With India’s newfound position as a major player in the global 5G market, the country’s technological landscape is poised for significant expansion.