India to have 650 million smartphone users by 2022: EY
Advent of 5G is expected to support newer applications, imbibe innovative business models and usher in cross-industry collaboration.
Smartphone users in the country are expected to reach 650 million and average data usage touch 18 GB per day by 2022, consulting firm EY said Friday.
EY said advent of 5G -- a new technology that promises faster data speed -- is expected to support newer applications, imbibe innovative business models and usher in cross-industry collaboration. "By 2022, India is likely to transition to a Gigabit society where citizens and businesses will equally benefit from widespread fast-broadband, reliable performance delivered by robust future-proof fixed and mobile technologies," it said in a statement.
By 2022, smartphone users are expected to more than double to 650 million, elevating average data usage by over five times to 18GB per month, according to EY.
As per the statement, Internet of Things (IoT) has the potential to deliver major social and environmental benefits in sectors like agriculture, automotive and transportation, healthcare, power and utilities. "India can lead the Fourth Industrial Revolution. The real opportunity is to look beyond technology, and find ways to give the greatest number of people the ability to positively impact their families, organisations and communities.
"At the back of this, India has the potential to unlock a trillion dollar digital economy by 2022 and add up to 10 million jobs," Prashant Singhal, Emerging Markets TMT Leader at EY, said.
By 2022, India's digital economy is expected to grow to USD 1 trillion and lead to creation of 10 million jobs, it said. A report by KPMG-IMC painted a similar picture stating digital economy in India is expected to reach USD 1 trillion by 2022 and $1.8 trillion by 2025.