NEW DELHI, Oct. 25 (Xinhua) -- The number of smartphone users in India is expected to increase to over 500 million by 2022, a latest study report by the Internet and Mobile Association of India (IAMAI) has said.

Quoting the report findings, English daily "The Financial Express" reported that with the growing Internet penetration in India, the world's second largest smartphone market, the number of smartphone users is likely to cross the 500-million mark in the next four years.

"Along with increased availability of internet connectivity, the number of smartphone users in India too is estimated to grow at 1.75 times to reach 526 million in 2022," the study revealed.

It also stated that the number of Internet users in India is also expected to reach 762 million by 2022. "By the year 2022, India is expected to become a country of 1.4 billion people. With proliferation of affordable internet connectivity, the number of internet users in the country is projected to increase 1.6 times from 481 million to reach 762 million in 2022," said the report.

The number of smartphone users in India already surpassed the 400-million mark in June this year.

Titled "Economic Impact of Internet Services in India," the report said that Internet services sector in the country, which at present is valued at 33.8 billion U.S. dollars, will reach 76.4 billion U.S. dollars by 2022.