New Delhi, February 20, 2017: As per Deloitte’s TMT India Predictions 2017, Internet of Things (IoT) is going to be the next big thing for operators as India will rapidly grow into a hub for IoT Solutions. The market value of IoT is expected to reach US $9 billion by 2020. IoT units in India are also expected to see a rapid growth of 31 times to reach 1.9 billion by 2020.
The 7th edition of Deloitte India’s predictions for the Technology, Media & Telecommunications (TMT) sector in India highlights that even with over 750 million cards in circulation and significant growth, mobile-based and digital payments will eclipse physical card payments. Innovative payment channels adopted by traditional and new age companies coupled with Government backed systems such as Aadhaar Enabled Payments Systems (AEPS) and Unified Payments Interface (UPI) to have a positive impact on mobile and digital payments.
“With advances in reliability, accuracy and technology of advance tech measures such as biometric authentication, digitisation will gain popularity in various business applications”, said a Deloitte India spokesperson. He further added, “The emergence of new tech trends will help transform digital economy in 2017 and will help operators in identifying new revenue generating opportunities, enhance customer experience, and improve operational efficiencies.”
Deloitte India predicts that technology industry in India may witness an earlier arrival of 5G in India. Deloitte believes that in order to understand the economics and performance, some operators may take intermediate steps and evolve from LTE to LTE-A and LTE-A Pro, in preparation for 5G.
India is a relatively small market for Tablets with less than 4 million units sold in 2016. Indian market is dominated by low-cost devices, a majority of which are sold under the $150 price tag and the low-cost device manufacturers’ address close to 80 per cent of the overall market. Majority of smartphones launched in India have more than 5 inches of screen size, which is impacting the overall volume of Tablets. The increasing adoption of tablets in the business segment is not sufficient to offset the declining usage in the consumer segment thereby putting pressure on overall volumes. But, there is a clear indication that Smartphones and ‘phablets’ are impacting the demand for tablets and will continue to do so in the future as well.
Full details about the India edition of TMT India Predictions 2017 are available here.