By Rajesh Goenka, Director, Sales & Marketing, RP tech India
• Rajesh Goenka, Director, Sales & Marketing, RP tech India explains how the technology will influence end users in 2019.
Mumbai, India, January 9, 2019 : The consumption of technology is set to go to the next level in the year 2019, where adoption of smart wearables will be on upswing and OTT platforms will change the entire content consumption experience of Indian consumers.
Fitness Gadgets to get More Power
The growing awareness about healthy lifestyle will further spur the growth of the smart wearable market in 2019. This growth will be predominantly driven by smart bands and fitness trackers. According to TechSci Research, the Indian smart band market is expected to grow at a CAGR of 41% by 2023. This growth is primarily driven by the urban tech-savvy community.
This year, the fitness wearable vendors will also focus on product innovations in order to improve data accuracy and reliability of fitness gadgets. The fitness trackers with features such as stress tracking, VO2 Max data, heart rate monitoring, sleep tracking, activity measurement and calories burnt etc. will be more accessible at an affordable price point to fitness cautious people.
OTT to further Dominate TV
With the advent of high-speed internet at a cheap cost and demand for high-quality segmented content, the Over the Top (OTT) platform will further surge the DTH in 2019. According to KPMG Media and Entertainment Report 2018, the OTT revenue in India is expected to grow at a CAGR of 45 per cent to reach INR 13,800 crore by the end of FY 2023. Needless to say that with the rising popularity of platforms such as Netflix, Amazon Prime Video, Voot, Hotstar etc. there will be a major transition in the digital content consumption experience. Digital TV with no fixed screen and foldable TVs are the future of television industry and it will hit the Indian market in the near future.
Robotics to soon become Mainstream
Though not developed as compared to the countries like USA and Japan, the Robotics is gaining the prominence in India. With the technical expertise and available resources, the Robotics industry has huge potential to grow, especially in the area of design and manufacturing. The Robotics Society of India is already working towards this goal in association with its global counterparts. Several Robotics Startups have mushroomed over the last couple of years, which are contributing significantly to bring this advanced technology for the mass industrial and consumer consumption. With dedicated support from the Government and growing demand from across the industry sectors, Robotics will soon become a mainstream reality in India.
Renewable energy to become Affordable
With the rising concerns over global warming, the demand for renewable energy such as solar panel will increase in 2019. The cost has been the major hindrance in adopting the solar-based power solutions. But with the Government support, the solar companies are now bringing cost-effective solar panels in the market. This will boost the adoption of solar solutions for both household and industry consumption. The technology will play a major role in terms of product innovation in the solar panel business.