With a rapidly changing lifestyle powered by technology, smart devices becoming the preference of users across socio-economic demographics in India.
New Delhi, 1st December 2021: In its latest study on Smart Devices in India, Techarc today said that the consumers are reinforcing their ‘smartisation’ process by purchasing individual personal use gadgets as well as devices for home/office automation.
While the covid-19 pandemic impact is considered as among the key drivers behind this trend, the rapid growth of wired home broadband after aggressive fiber 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 the previous year.
Sharing key highlights of the research, Faisal Kawoosa, Founder & Chief Analyst Techarc said, “The changing behavior of consumers shifting towards a smart devices ecosystem from a pointed smartphone is throwing open great opportunities for the entire ecosystem. As such smartphone OEMs have also adopted an ecosystem development strategy.”
“Processors continue to be key enablers in terms of main components which define the features and functions of these smart devices. Among the chipset suppliers, MediaTek appears to be in a strong position with this shift in customer preferences,” added Faisal.
Key highlights of the research
- The shift towards buying smart devices for homes/offices has started in 2021. Earlier the focus was primarily on non-smartphone-based personal smart gadgets like TWS, Smart Watches, etc.
- The smart devices market is expected to grow at 5.8% by revenue in the calendar year 2021. The total revenue generated by these connected devices is estimated to be Rs 312,689 crores.
- Satisfaction with regard to smart devices is high across the product categories. However, since smartphones have seen several generations of manufacturing, they lead the overall satisfaction score with 87%.
- The online channel is the preferred medium for over 3/4ths of the consumers. Within online Amazon is the favorite marketplace to buy such devices.
- While pricing is the topmost information that consumers look for before deciding about the smart devices, customers are increasingly getting interested in knowing more about the chipset as it defines the features and functions of such devices.
- There is a definite wish list of consumers wanting to buy smart devices. They have different choices for different time periods over the next 2 years. However, there is an equal opportunity for all smart devices.
- Online technology news portals emerge as the most credible sources for information as users find them good in quality and in detail while learning about these devices.
- Users are expecting 5G to enhance the experience of smart devices as well. Users feel 5G connectivity in smart devices will enable faster communication, powerful compute and processing as well as efficient usage of resources.
- In the Smartphone Arena, both MediaTek and Qualcomm can be seen in close competition with each other. However, as users move towards the smart devices ecosystem, they find MediaTek as their preferred chipset supplier.
- The recent consumer-centric campaigns have helped MediaTek to increase familiarity with its brand and products among end consumers. This positions the Taiwanese chipset maker at the top of the chart with 85% of the respondents aware of MediaTek and its product portfolio.
Amit Sharma, Senior Analyst, Techarc while sharing more details about the research said, “Though the trend of buying smart devices is skewed towards a certain socio-economic profile of users, the trend is catching up fast across the segments as the industry continues to introduce more affordable solutions catering to the demand.”