Industry and Market Overviews
To get an overview of four interconnected industries including 1) Fintech — mircofinancing in developing countries, 2) Atmospheric water generation industry, 3) Bottled water market in developing economies, and 4) Smartphone adoption across developing economies.
Smartphone Adoption in Developing Economies
- Nearly 5 billion people across the globe have mobile devices and around 50% of these mobile devices are smartphones.
- According to GSMA, the global smartphone adoption rate in 2018 was 60% of all mobile connections. However, many countries had an adoption rate considerably lower than that.
- The lowest level of smartphone adoption was observed in Sub-Saharan Africa at 36% while the highest rate was observed in North America at 80%.
- Data from Pew Research Center provides the following smartphone adoption rate in developing countries (emerging economies) in 2018:
- Overall, 83% of adults in these nine countries owned a mobile phone while only 45% owned a smartphone in 2018.
In addition, the age gap in smartphone ownership in these nine countries has been increasing with a much faster adoption rate among young people. For example, in the Philippines, people aged 34 and under are 47% more likely to have a smartphone than older adults.
Smartphone adoption rates among people aged 18-34 vs 50+ adults in 2018 were:
Summary of Initial Findings
- The initial research focused on information surrounding smartphone adoption across developing economies.
- Initial research indicates that most of the available information on the given industries has a global focus, and there are no resources that focus on developing economies as a whole. However, information specific to individual developing economies such as China, India, Indonesia, etc., is available.
- If desired, a competitive landscape of the major players in the given industries can be compiled in the relevant tabs of this spreadsheet.
Proposed next steps:
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