Apr 22, 2013, 09.15 PM IST
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India's mobile services industry to grow by 8 percent, but remain a speck in global market
The smartphone boom has also helped spur the growth of the mobile services market.
Like this story, share it with millions of investors on M3
India's mobile services industry to grow by 8 percent, but remain a speck in global market
The smartphone boom has also helped spur the growth of the mobile services market.
The smartphone boom has also helped spur the growth of the mobile services market, which is fast becoming an important part of the whole experience. Growth in this sector has been rampant over the last couple of years and research firm Gartner's latest report on the market says there is expected to be an 8 percent growth and the worth of the industry will rise to Rs 1.2 trillion in 2013. Just to give you a idea of the global industry, India's mobile services revenue is a mere 2 percent of the world revenue.The revenues from the mobile services were Rs 1.1 trillion in 2012. Gartner revealed that the mobile connections in India would grow to 770 million in 2013, an 11 percent increase from 712 million connections last year. "India has a phenomenal pent up demand for mobile broadband and local mobile apps that solve everyday problems for consumers," Gartner Principal Research Analyst Shalini Verma said.
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