Mongolia sees rapid expansion of smartphone market with 1.7 million users
The amount of smartphone users in Mongolia has doubled to 1.7 million since 2014, according to a study conducted by research and consulting firm Mongolian Market Consulting Group (MMCG).
According to the report, 99.6 percent of Mongolians aged 15 to 60, or 2.1 million users have a mobile phone. Of that number, 79 percent or 1.7 million users have a smartphone. Since 2014, the number of smartphone users have doubled, signaling a rapid growth in Mongolia’s consumerism.
The 21 to 37 age group or 48 percent of Mongolia’s population are the most active in purchasing smartphones with 88 percent or 920,000 individuals having purchased at least one. People aged 15 to 20 had the highest percentage of smartphone penetration with 95 percent.
The 1.7 million smartphone users compared to the 3.06 million population results in a smartphone penetration of approximately 55 percent. This number is on par with the smartphone penetration rates of China and Russia, 51.7 percent and 54.7 respectively, according to Newzoo’s Global Mobile Health Market Report.
Meanwhile, the United Arab Emirates has the highest smartphone penetration rate in the world with 80.6 percent. Sweden, Switzerland, South Korea, and Taiwan round out the top five with their penetration rates in the low 70s.