December 3 2021: With rapidly changing lifestyle powered by technology, smart devices are becoming the preference of users across socio-economic demographics in India.
In its latest study on Smart Devices in India, entitled The Connected Indian, analysts Techarc found that the consumers are reinforcing their ‘smartisation’ process by purchasing individual personal use gadgets as well as devices for home / office automation.
While covid-19 pandemic impact is considered as among key drivers behind this trend, the rapid growth of wired home broadband after aggressive fibre rollout of telecom operators has added as a key enabler. India had 23.13 million wired subscribers as of September 2021, registering a 15% increase over previous year.
The connected devices market is expected to grow 5.8% by value in calendar year 2021, over previous year. The market is likely to fetch ₹ 312, 689 crore of revenues by the end of December 2021. Though the majority contributor continues to be smartphones, other opportunities are growing fast due to rapid tech lifestyle transformation by users at individual as well as group levels.
Largely, consumers are satisfied with the performance of the smart devices. However, smartphones have been there for several years, and the entire ecosystem has been working on improving the experience which has resulted in the device toping the experience score. The audio experience has been one of the key expectations of consumers which has put a tremendous pressure on the TWS makers to meet the rapidly changing expectations complementing the present day user needs
Online takes a leap in terms of preferred channel for purchasing smart devices. Undoubtedly, pandemic has led to growth of online channel. The smart devices brands will have to think of creative ways of bringing customers to step into the experience stores where they want to show the entire smart devices ecosystem.
Other than pricing, consumers seek information about the features and functions of smart devices that helps them narrow down on the right choice. Information about chipsets has also become an important area; 3rd 15% 13% 13% 13% in priority.
Over next 2 years consumers have different smart devices on their shopping list. This trend of buying several smart devices for personal use as well as home / office use will continue to grow. Though there is a hero smart device for each period, the opportunity is evenly spread.
Consumers feel 5G has an enabling role in connected devices as well like in smartphones. The 5G cellular connectivity in smart devices is expected to increase the efficiency, compute and make them intelligent.
In the Smartphone Arena, both Mediatek and Qualcomm can be seen in close competition with each other. However, as the consumer moves towards a smart devices' ecosystem, the preference for MediaTek is strong.|
Mostly consumers are familiar with the chipset brands that power smart devices. Among the chipset brands, MediaTek understanding is high among consumers. However, the depth of understanding needs improvement so that consumers can understand chipsets and their usage better.
The users across socio-economic demographics are increasingly adopting smart devices to enhance lifestyle and increase productivity. Going forward, it is expected to further percolate among mass segments as industry continues to bring smart devices in the affordable segments.
Link toTecharc Connected India study (registration needed)