Market insights:
In terms of sales volume, since 2015, the popularity of wearable devices in the Indian market has gained momentum. The sales volume of wearable devices in the Indian market is expected to expand at a compound annual growth rate (CAGR) of ~27.92% during the 2020-2025 period to reach a volume of 20.10 Mn units by 2025. Beside smartwatch and wristband devices, ear-worn devices have become prevalent in India in the last two years. The ear-worn devices segment gained a considerable market share in 2019 that led to the notable development of the overall wearable devices market. The growth of the market can be attributed to improved awareness among people regarding fitness and wellbeing, along with technological advancements, and availability of high-speed internet connectivity. Furthermore, several government initiatives such as the National Digital Health Mission, Self-reliant India, National Health Policy, Digital India and Make in India are considered to be major driving factors. However, lack of data privacy and security, and high price range of smart products are likely to hinder the rapid adoption of these devices.

Segment Insights:
Based on its product type, the wearable devices market in India has been segmented into wristband, smartwatch, ear-worn, and other wearable devices. As of 2019, the wearable devices market was dominated by the earwear segment, accounting for about 51% of the market’s total sales volume. The earwear market segment was followed by the wristband segment, holding about 41% of the total market share. Prior to 2019, the earwear segment was less popular among people, and therefore, was an insignificant contributor to the overall wearable devices market. However, with the transition from wired to wireless earphones, Bluetooth-enabled earphones gained widespread acceptance. Furthermore, major smartphone companies discontinued to provide earphones as a free accessory. Consequently, the earwear segment stood out as an outperformer. As an impact of the COVID-19 pandemic, the earwear devices segment is anticipated to remain the fastest growing segment in the market during the 2020-2025 period, as a major portion of India’s population adopted wireless earphone devices owing to the increase in remote work culture and increased consumption of entertainment during the lockdown.

COVID-19 impact analysis:
The pandemic and the prolonged lockdown has generated a mixed impact on the wearable devices market in India. While the demand for wireless earwear devices and pulse oximeters skyrocketed, the quarter-to-quarter (Q1 2020-Q2 2020) sales volume of smartwatches and wristbands declined by almost 36%. The waning sales volume of these smart devices could be the result of the implementation of stay-at-home orders, reduced physical activities of individuals, and temporary shutdown of fitness centers.

Companies covered
Titan Company Limited
Apple India Private Limited
Fitbit India Private Limited
Fossil India Private Limited
Garmin India Private Limited
Google India Private Limited
GOQii Technologies Private Limited
Huawei India Private Limited
Samsung India Electronics Private Limited
Xiaomi Technology India Private Limited
World of Play
Blott Sports Technologies Private Limited
Witworks Consumer Technologies Private Limited
Actofit Wearable Technologies Private Limited

The post Wearable Devices Market in India 2020 first appeared on CRI Report.

Segment insights:
The flat panel television market in India can be segmented into smart TV and non-smart TV. Smart TV sets account for a significant share (of more than 75%) of the overall television market. Foreign players like Xiaomi, OnePlus, and Realme have disrupted the smart TV segment with the launch of its range of budget-friendly products. Domestic players are rapidly reducing prices to battle the fierce industry competition. Xiaomi is a leader in the smart TV segment with a share of ~29.50%, followed by LG, Samsung, and Sony.
In terms of display size, television sets between 32 inch and 43 inch account for notable sales percentage, since they are affordable to the larger section of the society.
However, the onset of COVID-19, the sale of larger screen sizes (43 inches and above) outperformed the 32 inches TV sets, which was the bread-and-butter of the industry.
Further, the reduction of Goods and Service Tax (GST) rates has truncated the prices of television sets in India.

Impact of COVID-19
Businesses worldwide have suffered immensely due to the COVID-19 pandemic. However, the virus outbreak and the ensuing lockdown have revived the Indian television market after two years of declining sales. As of August 2020, large screen television models (55-inches and above) reported a 30%-40% sales growth as compared to pre-COVID period. Moreover, TV manufacturing companies have witnessed spiked demand for smart televisions that can be directly connected to streaming devices. Amid the crisis and disturbed relations with China, localization is the key to success for the Indian television industry.
Companies covered:
BPL Limited
Intex Technologies (India) Limited
Hitachi India Private Limited
LG Electronics India Private Limited
Panasonic India Private Limited
Philips India Limited
Samsung Electronics India Private Limited
Sony India Private Limited
TCL India
Xiaomi Technology India Private Limited

The post Television Market in India LED, LCD, HD, UHD in 2020 first appeared on CRI Report.

Various government initiatives, such as increasing the number of banks’ public service units in rural areas, the Pradhan Mantri Jan Dhan Yojana program, free credit and debit cards with low transaction limits, and promotion of technology-based banking systems are driving the growth of the retail banking sector of India.

Major players operating in the Indian retail banking industry include Yes Bank Limited, Axis Bank Limited, Bandhan Bank Limited, State Bank of India Limited, and HDFC Bank Limited.

Market segment insights
As of FY 2019, in terms of deposits, public sector banks held the highest market share (~68.85%), followed by private sector banks. In FY 2019, SCBs opened around 4,518 new branches in tier I cities across India, which accounts for ~46.79% of the overall new branches opened in 2019. In 2019, public sector banks had around 78,420 on-site ATMs and about 27,840 off-site ATMs across India. Among these, most public sector bank ATMs are in the semi-urban regions.

Key growth drivers of the market
In order to increase the penetration of services across India, SCBs have introduced facilities Such as opening zero-balance savings accounts for the low-income population group in rural areas. Government-led, bank-based pension and insurance schemes including Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana, and Atal Pension Yojana have propelled the growth of the retail banking industry in India.
Owing such customer-centric facilities, the penetration level of the banking sector in India had reached ~80% in FY 2018. The introduction of internet-based banking facilities has made transactions easier, thereby increasing the account-to-account transaction volumes across the country.
Key deterrents to the growth of the market
Apart from banking, the popularity of internet-based banking has made it easy for hackers to engage in fraudulent activities. Crimes related to credit card fraud, spamming, spoofing, e-money laundering, ATM fraud, phishing, identity theft, and transactions through unauthorized cheques increased in India in FY 2019 compared to FY 2018. This, in turn, has led to customers’ dissatisfaction and loss of trust on web-based banking.

Companies covered
Axis Bank Limited
Bandhan Bank Limited
Bank of Baroda Limited
HDFC Bank Limited
ICICI Bank Limited
Indian Bank
Kotak Mahindra Bank Limited
Ratnakar Bank Limited
State Bank of India Limited
Yes Bank Limited

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The post Retail Banking Industry in India 2020 first appeared on CRI Report.

The post Mobile Healthcare Market in India 2020 first appeared on CRI Report.

Impact of COVID-19
Owing to the Indian government’s precautionary measures to contain the spread of COVID-19, shopping malls and retail stores, among other public spaces, were shut down, and all national and international flights were canceled from the middle of March till the first week of June, 2020. A significant part of e-payment transactions, based on both value and volume, comes from OTAs (online travel aggregators), movie and event booking portals, and the entertainment (including retail shops, food courts, bars, and restaurants) sector. Reduced consumer spending on dining out, movies, and the like, and restrictions on traveling adversely affected e-payments in India between March and May, 2020.
However, due to the fear of virus transmission, people are preferring digital modes of payment over cash, which is claimed to be a means of spreading the contagion; this, as a result, has ramped up the use of
e-payment solutions. From the end of March to the middle of April 2020, around 42% Indians used
e-payment modes multiple times as compared to the pre-lockdown period. Paytm observed 20% increase in e-payments in March, and recorded an exponential surge in repeat transactions for various use-cases such as fuel stations and utility payments, among others.

Key growth driver of the market
Of late, the e-commerce market in India has been experiencing rapid growth, owing to the participation of companies offering niche products, presence of a large Internet user base, launch of 4G, and increase in the purchasing power of consumers. E-commerce giants like Amazon, Flipkart, and Paytm Mall often provide cashback and discount offers for online transactions, which in turn attract young customers towards e-payment systems.

Key deterrent to the growth of the market
Despite multiple efforts of the government in making the Digital India campaign successful, cash continues to be the most popular mode of transaction in India. This is impeding the adoption of e-payment services across the country.

Companies covered
Axis Bank Limited
HDFC Bank Limited
ICICI Bank Limited
Infibeam Avenues Limited
State Bank of India
Airtel Payments Bank Limited
Mswipe Technologies Private Limited
One97 Communications Limited
One MobiKwik Systems Private Limited
Google LLC
PayPal Payments Private Limited

The post E-payment Solutions Market in India 2020 first appeared on CRI Report.

The post Healthcare Apps Market in India 2020 first appeared on CRI Report.

As of FY 2020, the electric bikes market in India was valued at INR 3.58 Bn, and is expected to expand at a compound annual growth rate (CAGR) of ~52.67% during the 2020-2025 period, to reach INR 29.67 Bn by 2025.

Government initiatives:
In February 2018, the Indian government’s policy think tank, Niti Aayog proposed and mandated the electrification of all two wheelers with a displacement capacity of below 150 cc by March 2025. With this policy mandate, the two-wheeler industry is likely to experience a rapid transition toward electric mobility. These initiatives have been undertaken to curb pollution and reduce the country’s import bills by INR ~1200 Bn by 2025. Further, to boost this policy and accelerate the adoption of electric vehicles (including bikes), the Department of Heavy Industry in association with the Society of Indian Automobile Manufacturers implemented the schemes of ‘FAME’ and ‘FAME II’. Other government initiatives anticipated to encourage the adoption of electric bikes include the National Electric Mobility Mission Plan 2020 (NEMMP 2020), the Atmanirbhar Bharat Abhiyan, and the Make in India campaign.

COVID-19 impact analysis:
The nationwide lockdown in the wake of the pandemic has marked a long-term positive impact on the electric bikes market in India. The demand for electric bikes has increased amid the pandemic, owing to the fear of virus transmission through public transport. The growing demand for the electric ones has also been supported by the government’s mandatory electrification policy. Moreover, the lockdown has intrigued realisation within people that the use of internal combustion engine vehicles cause 60% more pollution than their electrified counterparts. After the upliftment of the lockdown, adoption of electric bikes as a personal mode of transport surged multifold, and the growth is likely to continue in the long run as well.

Companies covered
Electrotherm (India) Limited
Ampere Vehicles Private Limited
Ather Energy Private Limited
Avon Cycles Limited
Hero Electric Vehicles Private Limited
Lohia Auto Private Limited
NDS Eco Motors Private Limited
Okinawa Autotech Private Limited
Tork Motors Private Limited
Tunwal E-Bike India Private Limited

The post Electric Bikes Market in India 2020 first appeared on CRI Report.

The post Digital Healthcare Market in India 2020 first appeared on CRI Report.

Impact of COVID-19:
The nationwide lockdown in the wake of the pandemic took an unprecedented toll on the cement industry in India. With the outbreak of the COVID-19 pandemic and the lockdown that followed, the cement industry in India suffered an unprecedented blow. The demand for cement declined to ~3.5% in FY 2020 from 9.5% in FY 2019. This was only the second instance of such a sharp decline in the last 15 years, after the demonetization in FY 2017. The downturn ofSlump in the real estate market, including the IHB (individual houses and buildings) housing segment in the country, has negatively impacted affected the cement industry in the country. The weakened demand from the consuming industries has resulted in reduced capacity utilization of the cement sector. ACC Limited’s consolidated net profit declined by 6.6% year-on-year, while its net sales declined by 11% in the last quarter of FY 2020 due to disruptions in business
As a result of the impact of COVID-19 related business disruptions, ACC Limited’s consolidated net profit declined by 6.6% year-on-year, while its net sales declined by 11% in the last quarter of FY 2020.

Market segment insights:
Among the major Indian states, the southern states of Tamil Nadu, Andhra Pradesh, and Karnataka together accounted for the highest cement production installed capacity of (~35%) in FY 2020, followed by the northern states (Rajasthan, Punjab, and Haryana), which collectively accounted for ~20% of the total installed capacity.
Out of the different end- user industries of cement, the housing segment accounted for the highest demand in FY 2020. Within the housing segment this, ~38% demand was generated by the rural housing sector. Such high demand for cement from the housing sector may can be attributed to the fast execution of affordable government housing schemes like such as Pradhan Mantri Awas Yojna, and Housing for All by 2022. Apart from housing, commercial and industrial investments, the infrastructure segment accounted for considerable demand for cement in India.
Key growth drivers of the market:
To develop the country’s infrastructure, the Indian government has undertaken several projects related to the construction of roads and highways, both in the rural and urban areas, along with the development of industrial hubs in different parts of the country. These schemes and initiatives are together expected to drive the growth of the Indian cement industry, since it is one of the primary materials for the successful execution of such projects.

Essential minerals used for manufacturing cement, which include limestone (calcium), bauxite (aluminium), iron ore, and coal, are available in abundance in different parts of India. This has resulted in zero or low cost of import of raw materials for cement manufacturers, thus making cement businesses profitable in India. As a result, cement manufacturing has increased steadily, driving the supply side of the Indian cement industry over the years.

Companies covered
ACC Limited
Ambuja Cements Limited
J.K. Cement Limited
Jaiprakash Associate Limited – Jaypee Group
JK Lakshmi Cement Limited
Orient Cement
The Ramco Cements Limited
Shree Cement Limited
The India Cements Limited
UltraTech Cement Limited

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The post Cement Industry in India 2020 first appeared on CRI Report.

The agriculture and allied sector plays a crucial role in a developing agrarian economy like India. More than 50% of the population is dependent on agriculture for livelihood.

As of 2020, the agriculture sector accounts for more than 17% of the nation’s Gross Domestic Product (GDP); however, the mechanization level in India is less than countries like Brazil (75%), the United States (95%), and China (57%).

Nevertheless, in the past few years, the country has witnessed a significant surge in the sale of agricultural machinery sales due to power availability on farms, and ease in financing options in the country.

The agricultural machinery market in India was valued at ~INR 880.23 Bn in FY 2019 and is expected to reach ~INR 1,203.01 Bn by FY 2025, expanding at a CAGR of ~5.51% during the FY 2020-FY 2025 period.

Global Agricultural Tractors Market Research Report – Forecast till 2026

Segment insights:
India is the world’s biggest tractor manufacturer, and accounts for more than one-third of the total tractor production. The tractor segment accounted for more than 80% of the market’s revenue in FY 2020.

Tractor penetration is high in northern India’s agrarian zone, principally Punjab, Haryana, and Uttar Pradesh, while in the southern and western regions of India, mainly Andhra Pradesh, Tamil Nadu, and Maharashtra, the adoption rate is low. Other segments of the market include rotavators, threshers, and power tillers.

Tractors with horsepower capacity of 30 HP-50 HP are have been sold the most and comprise more than 80% of the tractor industry revenue. However, the industry is witnessing a gradual shift towards tractors with higher capacity to suit multiple soil conditions.

Impact of COVID-19 and the way forward:
The lockdown, which was imposed by the Indian government to curb the spread of the novel coronavirus, brought trade, manufacturing and commerce to a standstill, radically transforming the business scenario in the country.

The situation has severely hampered the sale of tractors and other agricultural equipment in the country. Further, the industry is experiencing a rise in freight rates due to labor shortages and supply chain disruptions. As a result, the Indian tractor market, which is the largest segment of the agricultural machinery industry, declined by more than 10%.

Moreover, due to the temporary suspension of trade between countries, businesses are adopting the strategy of ‘producing and consuming local,’ which is expected to boost the domestic production of farm equipment.

Companies covered:
• Mahindra & Mahindra Limited
• Escorts Limited
• Force Motor Limited
• Greavers Cotton Limited
• Shivagrico Implements Limited
• VST Tillers Tractors Limited
• John Deere India Private Limited
• Tractor and Farm Equipment Limited
• International Tractor Limited
• CNH Industries India Private Limited

Agricultural Machinery Market in India 2019

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