Telecom industry to reach landmark revenue of Rs10 lakh crore by 2023: Report

Smartphone growth will continue to be backed by upgrade and replacement trends with estimated 85% of the sales during the period of 2023-25 occurring due to it.

September 08, 2022 10:07 IST | India Infoline News Service
The telecom industry is set to cross the Rs 10 lakh crores landmark in 2023 and by 2025 is expected to cross Rs13 lakh crore with 5G services expected to go live by the end of 2022 and scaling to several cities and towns of the country in 2023 and beyond, as per a report by tech consultancy Techarc.
The report titled, “India Smartphone-Big Picture 2025” outlines the outlook, key trends and challenges that are expected to be faced by the smartphone industry in India and is based on the analyses done by Techarc along with interactions done with the ecosystem leadership representing the smartphone OEMs, channel partners, component suppliers and other key enablers of the smartphone industry in India.
“Smartphones will continue to be the jewel of the telecom industry in India even as 5G goes commercially live in India anytime now. While 5G is poised to improve the overall health of the telecommunications sector, the significance of the smartphones industry is only going to embolden in the 5G era,” Faisal Kawoosa, Chief Analyst Techarc said at the fourth anniversary of Techarc where the special edition report was launched.
The report forsees 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. Further, the sector is expected to grow at a CAGR of 9.4% between 2020-2025, while the smartphone industry will lead the growth at a CAGR of 15.9% during the period.
With the introduction of 5G, Techarc said there is a positive impact on the revenues of the industry with a CAGR between 2023-2025 expected to be 10.1% against 8.2% for the telecom industry between 2020-2022.
Techarc report estimates the foldable smartphone sales to touch 1 million by year 2025 with at least 5 brands making them available for commercial sales. However, Samsung is expected to maintain the lead in this niche smartphone segment.

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