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The BRIC smartphone market has been forecast to increase at a compound annual growth rate (CAGR) of 72% through to 2015, with the industry primarily driven by the decline in the prices of smartphones across the BRIC nations, along with the increase in adoption as a result of contactless payment schemes.
Growing 401% year over year, China's smartphone market represents the fastest growing market in the world. Though currently second behind the United States, China has set a pace to likely overtake the US market by Christmas.
All four BRIC countries (Brazil, Russia, India and China) each ranked in the top 10 for growth, reflecting a continued evolution of economic development. Brazil came in third as the fastest growing active smartphone market at 279%, while Russia had 189% and India had 171%.
BRIC operators have recorded the strongest revenue growth in recent years, generating total revenues of $170 billion in 2010, an increase of $30 billion since 2008. In 2012, operators from these 4 countries are expected to exceed $200 billion in revenues.
The introduction of new products by smartphone vendors in Brazil, Russia, India and China is increasing the penetration of these devices in these countries. Also, the increasing availability of accessories and support services for high-cost smartphones is promoting growth within the BRIC smartphone market.
A large portion of the BRIC user base is expected to remain on legacy second generation mobile networks using low sophisticated feature phones up until 2015-16. However, smart phones are gaining useful traction in most of these markets.
If prices of smart phones are made more affordable in these countries, many consumers of feature phones would surely graduate. And if 3G networks (already being rolled out in BRC except I) comes into play soon, that should get marketers of the Mobile Web 2.0 very excited.
Key players currently dominating the BRIC smartphone market include Apple Inc., HTC Corp., Huawei Technologies Co. Ltd., Motorola Mobility Holdings Inc., Nokia Corp., Research In Motion Ltd., Samsung Electronics Co. Ltd., Sony Corp., and ZTE Corp.
For more information on the BRIC smartphone market, see the latest research: BRIC Smartphone Market
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