New Delhi: Connected consumer device market in India is expected to record a 11% growth by selling devices worth Rs 3,24,960 lakh crore in 2020, as per a forecast by research firm TechArc.
“Users in India are moving beyond smartphone connectivity and moving to other connected solutions which apart from making them ‘smart’ substantially increase the utility of such devices,” said Faisal Kawoosa, Founder & Chief Analyst techARC, while releasing the 1st edition of ‘India Connected Consumer Report’.
“Fundamentally, this is being driven by two trends of creating a connected cluster around smartphones, being the hub and adding connectivity in consumer electronics led by smart TVs and smart speakers,” he added.
Smartphones will continue to lead the sales of connected devices both in value and volume. However, with normal growth outlook for smartphones, equipment manufacturers will explore adjacent products where there is still a lot of headroom for growth, the report said.
TechArc expects smart wearables led by wireless buds to see ultra-growth with many brands likely to foray in the segment after Apple’s success in the category. Realme has already launched its wireless buds recently.
Smart Speakers will see high growth in sales as both devices as well as content being made available through them is on the rise. Enablers like Amazon’s Alexa are expected to have a greater role in expanding the voice computing market opportunities.
Tablet PCs and smart featurephones are the two categories expected to show continued decline in sales outlook for 2020. These two device categories have not been able to excite the market beyond a point and have very limited opportunities.
Smart home solutions such as smart bulbs, fans and other electric and electronics devices for homes have started to pick up. However, the penetration is still very low.
The growth for connected consumers’ devices in 2020 will be driven by cellular and Wi-Fi connectivity to consumer electronics for mass markets making several ‘luxury’ products available to masses during the year.
“However, government must intervene to ensure the standardisation and quality control of such devices and go beyond the present quality checks and balances in the interests of consumers. The biggest concern will however continue to be of security as there will be several endpoints vulnerable for security exploits for hackers,” the report said.
Source: Economic Times