Big tech and adaptability key metrics for India’s consumer tech revolution, says Prashant Bora.

India’s consumer electronics market stands on the brink of a massive transformation, driven by unprecedented sales growth and the integration of several new-age technologies. As Big Tech firms touch new milestones in developing new digital, intelligent technologies, their integration within consumer tech creates a new scope of work for industry stakeholders. Coupled with customer preferences and requirements — consumer electronics technology is transforming at an unprecedented rate, indicating the sector’s emphasis on considering Big Tech and adaptability as key metrics for growth.

This comprehensive paradigm shift highlights a sentimental change from the industry occupants. For instance, while India’s consumer electronics have been driven by affordability and durability in the last few decades alone, the notion has evolved beyond these two aspects. Currently, as new digital technologies emerge, consumer electronics industry stakeholders in India have promptly identified it as the next big shift. A significant portion of Indian customers today prioritise aspects like performance, accuracy and energy efficiency alongside cost efficiency and durability and brands are positioning their products accordingly.

This notion is further highlighted by recent statistics. Prominent market reports reveal that following the pandemic, new-age technologies such as AI & ML have become a necessity for consumer electronics, with up to 77% of electronics products globally featuring some form of these technologies. AI assistants developed by Big Tech firms are being increasingly adopted by electronics brands, to ensure smooth and enhanced performance and accuracy, enabling customers with a modern home management system. This is leading to new and developed features such as voice recognition and remote control & monitoring — directly translating to the development of smart consumer electronics technology.

Contributions of Big Tech

The global emphasis on the development of new-age technologies like AI, ML and others can be attributed to Big Tech. For instance, the emergence of the world’s first AI assistant was followed by significant resource allocation, research & development (R&D) and excellence by Big Tech. As these firms prioritised the development of new-age technologies, it directly translated into the contemporary status of technological advancements. For consumer tech brands, the robust development of new-age technologies marked a watershed moment, benefiting them with a forward-looking approach for years to come. As things stand, the vast majority of consumer electronics products have integrated some form of these technologies, as automation, performance, energy efficiency, customer preference & requirements and competition have changed the status quo in the industry.

The robust development of new-age technologies also closely aligns with the growth potential of India’s consumer tech sector. As one of the largest markets globally, the gradual increase of household income has positioned consumer electronics brands to offer highly useful electronics products that offer enhanced productivity, performance and energy efficiency — aspects that have played a critical role in the significant growth of the sector in the last few years. Driven by innovative new products that prioritise the aforementioned aspects, the Indian consumer electronics market is estimated to grow at a CAGR of 6.8% till 2030, positioning the market to generate a revenue of $124.94 billion at the end of the period. This growth factor can be passively attributed to Big Tech, as their developments have acted as the catalyst and promise more innovative developments in the coming years.

Adaptability as a critical enabler

The rise of Big Tech as the driver of global technological development closely coincides with the growth of the consumer electronics sector. When new-age technologies first made their appearance, little was known about the long-term impact they would have on reshaping the future of consumer electronics. Coupled with the constant, rapid development in the space, adaptability with this shift has become a key concern for consumer tech companies. This is primarily because as new digital technologies become the mainstay of the global tech revolution, industry stakeholders must position themselves in accordance with the shift. For instance, Indian customers are increasingly preferring high-performance and accurate devices than ever before and aligning with their inclination will require significant adaptability for industry constituents.

Adapting to the new technologies and requirements will have a long-term impact on consumer tech companies, primarily owing to ensuring customer satisfaction. Deciding against aligning with this paradigm shift will have long-term consequences, as has been previously witnessed in the consumer tech sector, especially in the smartphone segment. However, Indian brands do not seem to be going against the tide as of now, but maintaining and aligning with the intensity of technological development will be key towards ensuring future growth, and is being considered imperative for scalability aspects.

Founded by Mr Prashant Bora, MD, and CEO of OTEK (A Bora Multicorp Venture), an INR 5000 Cr revenue-generating organisation, specialises in the design and manufacturing of innovative products, its products are designed in New York (USA). Driven by Mr Bora's innovative vision, OTEK is looking to rapidly grow its product portfolio in the next 10 years. Furthermore, the company also emphasizes improving customer service and upholding its environmental commitment to provide high-quality, affordable, and innovative products without compromise — a critical contributor to the brand's estimated net revenue of INR 150 Cr in FY 2025-26.