Smartphone users to surpass 700 million by 2022: Report

According to a new report released by Counterpoint Research, the number of smartphone users to surpass 700 million by 2022.

Features such as full-screen displays, dual-cameras, biometric security and support for Artificial Intelligence (AI) are beginning to make in-roads to the mid-range. They will become widespread over the next few years," said Tarun Pathak, Associate Director at Counterpoint Research.

"These features will help OEMs to differentiate their offerings in the mid-tier segment at a time when overall smartphone innovation is perceived to have plateaued," Pathak said.

Many of these advanced features will be enabled and enhanced through the evolution of the underlying System-on-Chip (SoCs) and other components.

It also said that Mid-range smartphones (roughly Rs 14,000-Rs 29,000), will grow 20 percent (year-on-year) in 2018 and by almost four times during the next five years to make it one of the most important smartphone segments in India.

While, the sales volume spot is moving from sub-$150 (nearly Rs 10,000) segment towards mid-tier as many features and capabilities common among flagship models, progressively diffuse through to these lower price bands.

The agency came out with another report which says that 5G to account for around 10 percent of global IoT cellular connections in 2025.

The report also said that Global IoT cellular connection grew 72 percent in the first half of 2018 -- a considerable increase as compared to the same period last year.

Further, futuristic applications such as autonomous cars, drones, connected healthcare, and mission-critical IoT applications will be powered by the upcoming 5G technology revolution which promises massive capacities, throughputs, and lower latencies."