- India is poised to be among the top five economies in the world by 2020. Home to over a billion mobile subscribers and the second largest Internet user base in the world, it will become a key force of reckoning for global business, policy, and technology advancement.
- Due to the proliferation of smart devices and reasonable broadband speed at competitive prices, the Indian consumer is now hooked to virtual applications—from digital payments to over-the-top (OTT) video, from social networking to personal well being. Mobile devices are gaining currency, literally and figuratively. To drive this further, the Indian Government has embarked upon a journey of establishing a connected ecosystem for its people and industries. Deploying a country-wide fiber network and providing public Wi-Fi connectivity are crucial mandates for driving the Digital India and Make in India initiatives.
- The forecasts for ‘Digital India’ look good. 4G smartphones will comprise 75% of 170 million phones to be shipped in 2017. Wireless connectivity will become ubiquitous over the next five years. Rural Internet users will grow by 40% annually for the next three years, and video consumption on the Internet will grow five-fold by 2020. In addition, the IoT market in India will grow to $16.7 billion by 2022, as per Frost & Sullivan estimates.
- Such rapid development will come in but at a significant cost to the industry. The balance sheet of most stakeholders in the telecom and broadcast industry is strained by investments in infrastructure development (4G and fibre) and content development. The other primary challenges for industries today are digital transformation and automation. With technologies such as artificial intelligence, machine learning, and analytics permeating every single application and process, there are large-scale disruptions, requiring industrialists to re-engineer their entire approach to product innovation and services.
- This rapid evolution requires enterprises and industries to advance with a sound digital transformation strategy for existing business lines, new business models, and technology. This Frost & Sullivan-Convergence India outlook report provides insights on the trends impacting the telecom and media sectors.
Please Click HERE to Read More
