The smart devices market is expected to grow at 5.8 per cent by revenue in calendar year 2021. The total revenue generated by these connected devices is estimated to be ₹312,689 crores. The shift towards buying smart devices for homes / offices started in 2021. Earlier the focus was primarily on non-smartphone based personal smart gadgets like TWS, smartwatches, etc. Within online Amazon is the favourite 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.
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 its latest study on smart devices in India, Techarc said that the consumers are reinforcing their ‘smartisation’ process by purchasing individual personal use gadgets as well as devices for home / office automation.
While covid-19 pandemic impact is considered as among key drivers behind this trend, the rapid growth of wired home broadband after aggressive fibre 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 previous year.
Faisal Kawoosa, Founder & Chief Analyst Techarc said, “The changing behaviour of consumers shifting towards a smart devices ecosystem from 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.
In the smartphone, both MediaTek and Qualcomm can be seen in close competition with each other. However, as users move towards smart devices ecosystem, they find MediaTek as their preferred chipset supplier.
