According to leading research reports, India is expected to become a trillion dollar economy in the next decade. The numbers speaking about the pace of digital penetration across India, and the rise of online content usage behaviour among Indians, is simply astounding. All major industry forecasts clearly indicate that India is an emerging market, on its way to becoming the ‘Next Big Frontier’ of the digital world.
Also, the Indian government initiatives are pushing the digitisation in the country, to enable better services for citizens and greater growth opportunities for businesses.
India’s Digital Landscape
The digital infrastructure in India is being built by the Information Communication and Technology (ICT) industries. A number of technology-oriented Public-Private Partnerships as part of Digital India and Make in India initiatives are driving India’s economic growth.
In order to strengthen the digital infrastructure, the government has rolled out several initiatives such as Smart Cities, India Stack, BharatNet, DigiLocker, Universal access to mobile etc. These initiatives are in various stages of project management at the moment.
Rise in Rural Internet Users
A major part of Indian population resides in rural areas and towns. As per a recent Ernst & Young Report, India’s rural internet users will reach 388 million by 2020. BharatNet, a notable initiative, aims to empower thousands of Gram Panchayats in India with internet connectivity through optical fibre cables.
WiFi Hotspots have increased across the country. Cloud computing, analytics, satellite communication solution etc. are being used by the government to digitise public services. E-signatures and e-payments are now being used to offer paperless documentation processes for consumers.
“As per a research report by Deloitte, India’s healthcare sector will touch $280 billion dollars by 2020. And today, more and more healthcare service providers are joining the eHospitals Initiative wherein hospital appointments can be booked using eKYC done through Aadhaar information of citizens.”
A wide range of services such as banking, shopping, entertainment, etc. are now being made available through mobile applications. E-learning solutions and e-health solutions are under process too. Private companies, educational institutions, hospitals, non-profits, celebrities and many others are online to sell, promote, educate, inform and engage their consumers.
To understand how digitisation is transforming India and leading to rise in digital users, take a look at this TEDx video by Sanjay Jain: https://www.youtube.com/watch?v=jMskm-Vrjm0
Technology Upgrades, Digital Media and more…
Customer awareness is greater than ever with information access at fingertips. Today’s consumers turn to social media to raise their concerns about public services, companies, product/service experiences and more. Customer engagement in online communities and social media platforms has become a priority for leading businesses.
Simultaneously, the digital media and marketing industry is flourishing in India. The digital marketing industry facilitates a smoother transition for new-age businesses to connect with online consumers.
Leading IT companies such as Google, Facebook, Twitter and many others have been actively participating in India’s growth story. There definitely exists a diverse pool of tremendous opportunities, for domestic as well as global companies, in a digitised economy with more than billion people.
Technology is at the forefront of every industry’s growth plan. A technology upgrade leads to cost-efficient processes, intelligent systems and real-time task management capabilities across geographies. At the moment, the Industry 4.0 trend is in where industries are focussing on growth through automated manufacturing and data exchange systems.
NASSCOM’s representation of Industry 4.0 showcases how digital technologies will reshape India’s industries.
Recent Trends in India’s Digital Marketing Industry
India is preparing for 5G Internet connectivity to be available by 2020. Each year, India’s new mobile internet consumers are rising in millions. Brands are creating responsive websites, mobile ads, applications and innovative mobile-friendly content to reach their target audience.
Today, a more cost-effective approach to online media buying is programmatic buying of online ad spaces. In India, advertisers are using programmatic advertising to reach a precise target audience using data-driven strategies. A thorough understanding of programmatic is necessary to create quality content for running successful campaigns.
“Media research reports say India’s video advertising sector grew by 200% in 2016.”
Viral videos are making millions of dollars for online celebrities as well as brands.
Native ads are more relevant to users because they mimic the content around them. Presented in the form of promoted stories or recommended sponsored articles, native ads may surpass the popularity of display ads in the future.
Gone are the days when 30 minutes and 60 minutes of video were a norm. Today, the online audience wants to watch short and snackable content. It can be a series of videos or a short film to gain affinity from online users.
In India, the OTT Market is growing with the entry of several telecom companies, media companies, device manufacturers and content aggregators creating exclusive content for the audience.
What’s next for digital India?
Content Hungry Audience
- Between 2016-2020, Advertising video on demand (AVoD) will grow at a CAGR of 38%.
- Multi-Channel Network (MCN) approach will give more flexibility for content creators to promote content across channels. Content creators will also benefit from IP Management support, monetisation opportunities and more.
- Instead of watching content in groups, by 2020 more content will be consumed by individuals mainly on their small screen devices.
- India’s online celebrities will rise in numbers. Brands will collaborate with these celebrities for brand promotions and influencer marketing.
- Disruptive Innovation will lead to innovative content monetisation opportunities. Localisation of content through strategic partnerships for content acquisition and distribution will take place.
- With internet penetration and consumption in rural areas, a need for creating more and more regional content will arise in the future. Also, content demand will increase in India’s Tier-II and Tier-III cities.
- India’s gaming industry is expected to grow from INR 15 billion to INR 77 billion by 2020. Mobile gaming in vernacular languages will witness aggressive growth.
- Online communities and apps catering to a niche audiences will grow.
- Live OTT Market will augment the Indian OTT industry.
- Consumers will enjoy a bouquet of services in a single place with omni-channel platform approach.
Collaboration for Innovation
- MNCs will set up their own facilities or partner with Indian companies to expand their services in India.
- India has some of the most talented animation and visual effects artists. Companies will tap the home-grown talent to offer futuristic technologies such as Virtual Reality, Augmented Reality, 360 degree videos etc. Due to competition among leading companies, consumers will enjoy rich audio-visual experiences in eLearning, gaming, movies, advertising and more.
- India’s startup sector is growing. Several innovative startups are partnering with established companies through incubators and accelerator programs. VCs, PE investors and banking firmsare supporting start-ups for development of futuristic solutions powered by Blockchain technology,Artificial Intelligence, Machine Learning and more.
To conclude, digital will dominate India’s future by turning mainstream. Some of the possible hurdles that are currently interfering with the growth are piracy issues, slow internet speeds, etc. But government initiatives and development of advanced technologies by innovators are efforts to get past these challenges.
High-end infrastructure, paperless documentation processes and seamless access to everyday services are already a reality in many industries. India’s millennial have high spending power. They are already spending quality time online by juggling a number of devices. E-Governance initiatives and digital literacy programs will make rural India’s journey into the future easier.
In a digital India, the marketing trends show that there will be a huge demand for digital marketing services. Designing intuitive user experiences will be the focus in the future. Simplified user interfaces with an uncomplicated user journey is what forward thinking businesses are focussing on at the moment. Each consumer experience will be designed using high-end data tracking and data management platforms.
Online businesses will continue to grow in the future, so will the need for digital marketing services. Start building your online presence today with digital marketing. Big Trunk is a leading agency handholding today’s businesses into the growth opportunities offered by digital marketing. Contact Big Trunk to know more.
Is your business geared-up for the anticipated digital future breakthroughs? What impact do you think will digital India have on your business? Share your views in comments