2014 - A Year of Tech Transformation for Indian Biz: Zinnov
In terms of technology adoption, 2013 was an exciting year for Indian businesses. Companies –big and small – that invested in emerging technologies are now waiting to reap the benefits in 2014. The next one year is undoubtedly interesting for businesses in India as they are looking at greater consolidation and transformation. Zinnov points out some of the top technology trends for 2014.
#1. A connected, agile workforce: The mobile revolution is already underway and enterprises are realizing the tremendous growth and opportunities mobile technologies can bring to their businesses. Market research and advisory firm Zinnov predicts the with the advent of mobile devices, apps and operating systems, enterprise mobility market to increase almost five times, touching $1 Billion by mid-2015, up from $244 Million in 2011, throwing up greater possibility of bringing in better operational and process efficiencies, opening up new business opportunities & providing better customer service through a connected, agile workforce in 2014.
#2. Rise of community network: According to Zinnov, community networks will present tremendous opportunity for technology companies, especially the SMB segment. The growth of internet and mobile ecosystem will drive the trend, where companies will form community network for greater interaction. This will lead to a number of technology centric opportunities around web enablement, issue resolution, CRM, web advertisements in the next one year.
#3. UID adoption to increase: UID will drive large scale technology adoption at the grass root levels. Registrations of UID are expected to reach 600 million by end of 2014 that include almost 50% of India’s population. While large banks and telecom companies may only leverage it as another KYC model, nimble players will leverage it to deliver innovations such as card-less transactions, tracking, e-health (remote diagnosis and disease management). Making these devices light weight and low power and connected to smartphones can be potential game changer in the technology adoption.
#4. E-health & E-education: Internet users in India grew rapidly to reach over 200 million in 2013. This growth has also given a fillip to delivery of services such as education, health, banking, etc. over internet. Online or digital education can help deliver more value owing to lower set-up and operational costs through low cost tablets. Similarly in the healthcare space, e-medicine will see an optimistic growth. Both government as well private sector initiatives have been in motion for some time and 2014 is expected to bring mainstream adoption.
#5. Discovery & hyper local visibility: These solutions will be the primary focus of Indian SMBs: As only 500,000-700,000 out of the 10 million technologically addressable SMBs have websites, digital discovery solutions particularly in the exponentially growing mobility realm would become increasing central for SMBs. With google tweaking its smartphone search algorithm in order to promote mobile “friendly” websites, there would be potentially a huge market of making existing websites mobile ready. Early signals of hyper local discovery engines are already emerging and present huge potential in 2014.
#7. Konntected Network of Things (KNoT) is an evolving concept of traditional internet of things (IOT) with a wider scope including the M2M interaction over a local network, going beyond the dependence on internet. KNoT technologies are on the rise and it is estimated that over the next decade the opportunity is bound to generate revenue in excess of USD 10 trillion with more than 30 billion connected devices. The hype around KNoT has been building up and it is believed that by the end of 2014 it will reach the peak and in another couple of years it should be in the zone of enlightenment
#8. India to become 2nd largest tech start-up ecosystem globally: Over the last 2 years 20+ privately run accelerators and funding groups have been launched with most of them supporting 5-10 start-ups annually on an average. With a large numbers of stakeholders coming forward in support of the start-ups, India is all set to experience a new age for technology entrepreneurs.
#9. Localized marketing to gain ground: This trend will play an important role in driving technology adoption in India. Companies are increasingly being challenged to innovate on marketing messages and themes which are relevant to the market evolution in India. Some of the large organizations have already tasted initial success with this approach and as India gains strategic importance for global companies, we will see a number of smaller technology companies taking this path going forward.
#10. Social media to thrive: Companies, especially niche businesses will drive significant monetization opportunities from social media in 2014. Many organizations have already started measuring social media efforts through leads, sentiment, and brand visibility etc. In the next one year, businesses will leverage this tool to acquire direct customers, spread awareness through existing customer recommendation and direct referral traffic to existing web properties even with potentially limited marketing budgets.
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