India Surges Past US to Become World’s Second-Largest 5G Mobile Market: New Report

India has achieved a significant milestone by surpassing the United States to become the world’s second-largest 5G mobile market, according to a new report. The latest data highlights India’s rapid ascent in the global 5G landscape, trailing only behind China.

Global shipments of 5G handsets experienced a robust 20% increase year-on-year in the first half of 2024, as reported by Counterpoint Research. Apple emerged as the leading player in the 5G handset market, capturing over 25% of the global market share. The surge in Apple’s shipments was driven by the popularity of its iPhone 15 and 14 series.

India’s rise to the second position in the global 5G market was fueled by strong sales of budget-friendly 5G handsets. Prominent brands such as Xiaomi, Vivo, and Samsung contributed significantly to this growth. Senior Analyst Prachir Singh noted that India’s shift was largely due to the strong performance of these brands in the budget segment, which has seen substantial growth.

Samsung held the second-largest share globally, accounting for more than 21% of 5G handset shipments, supported by its Galaxy A and S24 series. Both Apple and Samsung secured five spots each in the top-10 list of 5G models for the first half of 2024, with Apple dominating the top four positions.

The trend of increased 5G adoption is not limited to India. Emerging markets worldwide are witnessing significant growth as consumers upgrade their devices to 5G technology. The Asia-Pacific region led the global market, accounting for 63% of net new 5G shipments and commanding a 58% share of global 5G handset shipments. Europe, the Middle East, and Africa also experienced double-digit growth in 5G shipments.

According to Research Director Tarun Pathak, the ongoing expansion of 5G networks and the increasing availability of affordable 5G handsets are expected to drive further growth in the market. As 5G technology becomes more accessible, its penetration across various price segments is likely to continue expanding, further solidifying India’s position in the global 5G market.

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