India’s Pill Market Clocks Strong 42% Progress In 2024 | Know-how Information
New Delhi: The Indian pill market noticed robust progress in 2024, with whole shipments reaching 5.73 million models, a 42.8 per cent year-on-year (YoY) enhance, a report mentioned on Wednesday. In keeping with knowledge from the IDC’s ‘Worldwide Quarterly Private Computing Gadget Tracker’, each removable and slate tablets contributed to this rise, rising by 30 per cent and 47.2 per cent YoY, respectively.
The patron phase remained robust, registering a 19.2 per cent YoY progress — pushed by engaging on-line promotions, reductions, and cashback provides. Regardless of greater than 60 per cent of shipments continued to be entry-level tablets, the ASP (common promoting value) elevated from $309 in FY2023 to $336 in FY2024 within the shopper phase.
The business phase carried out even higher, surging by 69.7 per cent YoY, largely due to an enormous 104.5 per cent YoY enhance in pill demand for instructional establishments, the report famous. Authorities-funded training tasks fuelled this progress, regardless of a 9.9 per cent YoY decline within the very massive enterprise (VLB) phase.
“With Android tablets getting higher cameras, software program updates, and app integration, tablets have gotten the system of alternative for mild productiveness and leisure and attracting a sure part of PC consumers,” mentioned Priyansh Tiwari, analysis analyst, IDC India and South Asia.
Samsung dominated the Indian pill market in 2024, capturing a 42.6 per cent total share, the report mentioned. The corporate led in each the business and shopper segments, with 51.1 per cent and 32.1 per cent shares, respectively. Acer Group secured the second place available in the market with an 18.7 per cent share in 2024.
Apple ranked third with an 11 per cent market share. The model witnessed notable progress in each the business and shopper segments, growing by 45.3 per cent and 4.7 per cent YoY, respectively. Lenovo and Xiaomi tied for the fourth place with a 9 per cent market share every. Lenovo noticed an 18.6 per cent YoY enhance within the shopper phase, mentioned the report.
Xiaomi’s pill shipments surged by 101.7 per cent YoY, making it one of many fastest-growing manufacturers in 2024. Its deal with each on-line and offline gross sales channels, together with new product launches, helped enhance its market share.
