India has surged ahead of the United States to become the second-largest market for 5G handsets globally, marking the first time the country has achieved this significant milestone. With only China surpassing India, the latter now stands as a dominant force in the 5G handset market. A recent study by Counterpoint Research highlighted a 20% year-on-year increase in worldwide 5G handset shipments in the first half of 2024. Apple led the global market, holding more than a quarter of total shipments, largely fueled by the success of its iPhone 14 and iPhone 15 series, as reported by IANS.
In emerging markets, the demand for 5G handsets has been rising steadily, showcasing a notable growth trend. Senior analyst Prachir Singh explained that India’s ascent to the second-largest 5G handset market was primarily driven by robust sales from major brands like Xiaomi, Vivo, and Samsung in the budget-friendly segment. The substantial shipment volumes from these companies enabled India to overtake the US in this competitive market.
Samsung, thanks to the widespread appeal of its Galaxy A series and the S24 series, secured the second spot in global market share with more than 21%. The top-10 list of 5G models for the first half of 2024 was equally dominated by Apple and Samsung, with both companies occupying five positions each. Apple secured the top four spots, reflecting the strong consumer preference for its 5G-enabled devices.
Emerging markets have experienced significant growth in the adoption of 5G handsets. In these regions, consumers increasingly see 5G smartphones as valuable upgrades, even within more affordable price brackets. The Asia-Pacific region alone accounted for 63% of global net additions and held a 58% share in 5G handset shipments. Additionally, both Europe and the Middle East and Africa (MEA) regions recorded double-digit growth in 5G handset sales during this period.
Research Director Tarun Pathak emphasized that as 5G devices become more affordable and 5G network infrastructures continue to expand, this growth trajectory is expected to accelerate even further in the coming years.