Techarc report claims Telecom industry to cross Rs 10 lakh crores landmark in 2023.

With an expectation of 5G services becoming live in 2022, the telecom industry is all set to cross the Rs. 10 lakh crores landmark in 2023 and Rs. 13 lakh crores in 2025. According to a tech consultancy Techarc report, it will scale several cities and towns of the country in 2023 and beyond.

The report titled “India Smartphone-Big Picture 2025” by Techarc reveals the key trends and challenges the smartphone industry is facing in India. It is based on the analysis done by Techarc along with interactions done with the leaders of the ecosystem representing the smartphone Original Equipment Manufacturer (OEM), channel partners, component suppliers and other key enablers of the smartphone industry in India.

Chief Analyst of Techarc Faisal Kawoosa said “Smartphones will continue to be the jewel of the telecom industry in India even as 5G goes commercially live in India anytime now. Where 5G is poised to improve the overall health of the telecommunication sector, the significance of the smartphones industry is only going to embolden in the 5G era”. He spoke this at the fourth anniversary of Techarc where the special edition report was launched.

It anticipates that the telecom industry is expected to add Rs 1 lakh crore in every three years compared to previous trend of adding the same in a four year period. Again, the sector is expected to grow at a Compound Annual Growth Rate (CAGR) of 9.4 percent between 2020-2025.The smartphone industry will lead the growth at a CAGR of 15.9 percent during the period.
According to Techarc, with the introduction of 5G, the revenue of the telecom industry is increasing. The CAGR between 2023-25 is expected to be 10.1 per cent as against 8. 2 per cent for the telecom industry between 2020-2022.
Emphasizing on the need to create a ‘ trinity’ between the Indian technology companies of diverse scale and skill, existing Research and Development centres in the public sector and the premier technology institutions like Indian Institute of Technology, it encouraged the sole agenda of India becoming a technology provider globally.

The company predicts that the smartphone sales will cross 200 million in 2024 milestone for annual sales. It means that within a span of 8 years, the sale will double. India started selling more than 100 million smartphones annually in 2016 itself. It took them 11 years to reach this target achieved in 2016. It is estimated that by 2025, the smartphone sale will exceed to as high a Rs. 5 Lakh crores.

Techarc, stands for Technology Analytics Research and Consulting, based in Gurgaon, Haryana, specialises in data driven market reports providing insights about market movements, technology trends, pricing and trade information of various technology products and services.

Its proprietary Unboxing Score and Wax-wane analysis helps in deterministic decision making. (https://www.linkedin.com/company/tech-arc/?originalSubdomain=in).

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