The post Mutual Funds Market in India 2019 first appeared on CRI Report.

Market Insight
Electric two wheelers are poised to be the game-changer for the two-wheeler industry. Although electric bikes comprised a minimal share (~0.6%) of the total two-wheeler sales in India in FY 2019, its sales with respect to the previous year have increased by about 129%. This growth can be attributed to the government’s initiatives towards the electrification of bikes. Other factors that have influenced the adoption of electric bikes are rising concern over air pollution and the lower ownership and maintenance costs of electric bikes. The cost of running electric bikes is about INR 10 for 70 Km, whereas the same distance can be covered by a conventional counterpart at a minimum cost of INR 102.

Government Initiatives
In February 2018, the 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 the policy mandate, the automobile industry is likely to experience a rapid transition towards electric mobility. Such initiatives were taken to curb pollution and reduce the country’s import bills by INR ~1200 Bn by 2025. The Department of Heavy Industry in association with Society of Indian Automobile Manufacturers implemented the schemes of FAME and FAME II. Under FAME and FAME II, the government outlaid a budget of INR 107.95 Bn, directed towards the faster growth of electric vehicles.

Competition Analysis
The industry is dominated by new entrants in the market, such as Electrotherm (India) Limited, Hero Electric Vehicles Private Limited, Ampere Vehicles Private Limited and NDS Eco Motors Private Limited. Other market participants include Ather Energy Private Limited, Avon Cycles Limited, Lohia Auto Private Limited, Okinawa Autotech Private Limited, Tork Motors Private Limited and Tunwal E-Bike India Private Limited. The market is currently being dominated by niche players as they have already set up their operations with modern infrastructure, advanced technologies and in-house charging facilities. On the other hand, the well-established manufacturers of conventional two wheelers are yet to expand their footprint in this market. The entry of these established players is anticipated to create fierce competition within the market.

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

Indonesia Electric Two-Wheeler Market Outlook 2030: Industry Insights & Opportunity Evaluation, 2019-2030

The post Electric Bikes Market in India 2019 first appeared on CRI Report.

Market insights:
The production of cement in India is expected to reach 410.21 Mn tons by FY 2024, expanding at a compound annual growth rate (CAGR) of ~3.83% during the FY 2019-FY 2024 period, owing to rising demand from the government and housing contractors. Cement consumption is anticipated to increase at a CAGR of ~4.38% during the forecast period owing to the sanction of schemes for improving roads and highways connectivity and housing facility related programs, and growing demand from the commercial real estate sector. The major players operating in the Indian cement industry include UltraTech Cement Limited, Ambuja Cements Limited, JK Lakshmi Cement, and Ramco Cements Limited.

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 2018, followed by the northern states (Rajasthan, Punjab, and Haryana), which collectively accounted for ~23% of the total installed capacity.
Out of the different end user industries of cement, the housing segment accounted for the highest demand in FY 2018. Within this, ~38% demand was generated by the rural housing sector, followed by the urban housing sector (~32%). Such high demand for cement from the housing sector may be attributed to the fast execution of affordable government housing schemes like 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.

Key deterrents to the growth of the market:
Many major cement companies in India have increased their production capacity at a considerable rate over the past few years, relying mainly on government support. However, the rate of cement production has not risen at the same pace as compared to capacity expansion during the same period. This gap between installed capacity and actual production is mainly due to delays in the processes related to awarding of construction projects and decision-making regarding commencement dates, acquisition of land for construction projects, etc., at government offices, mostly for the execution of roads and highways construction projects and smart city development projects. As a result, continuous demand for cement has dropped, thus rendering parts of newly installed production capacities idle. Eventually, plant maintenance costs would increase because of excess production capacity, leading to a rise in the per capita price of cement across India.

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 2019 first appeared on CRI Report.

Beauty and Wellness Market in India-Market insights

With the rise in awareness about holistic wellbeing among people in India, the spending on beauty and wellness products and services has increased. According to the Indian Beauty & Hygiene Association (IBHA), the per capita spending on beauty and personal care products was around INR 450 per annum in 2017, which is expected to increase during the 2019-2024 period.

The beauty and wellness market in India was valued at INR 901.07 Bn in 2018, and is forecast to reach INR 2,463.49 Bn by 2024, expanding at a compound annual growth rate (CAGR) of ~18.40% during the 2019-2024 period.

Segmentation based on type

Based on type, the beauty and wellness market is segmented into counter sales of beauty products, beauty and wellness services, fitness and slimming services, alternate therapy and rejuvenation services. The beauty products segment held the largest market share, followed by the beauty and wellness services segments.

In 2018, the fitness and slimming services segment held a market share of ~15.60% and is expected to hold a share of ~22.20% in 2024. People these days prefer healthier lifestyles, as a result of which, demand for gyms, fitness studios and slimming centers has picked up across the country.

Key growth drivers of the market

• The rise in the income of the middle-class has propelled the demand for beauty products and wellness services. In India, the labor force participation rate of female in 2017 was 22.05%, which increased from 21.27% in 2012. With more women joining the workforce in tier 1 cities, their purchasing power has increased.

The rise in their disposable incomes has resulted in the escalating demand for beauty products, and salon and spa services.

• In India, people nowadays have become conscious about their appearance and are constantly spending money to enhance the way they look. This has allowed for the significant growth of the beauty and wellness services segment, with consumers paying frequent visits to salons.

Key deterrents to the growth of the market

• There is a lack of professionally trained and skilled beauty and wellness service providers in the market, which has led to increased manpower costs. As a result, consumers have to pay exorbitant amounts to avail beauty and wellness services. This presents a major challenge for the growth of this market.

• Consumers demand quality beauty and wellness products and services at affordable prices. Though brand awareness is high among Indian consumers, they tend to switch brands if similar quality products are available at lower or similar prices.

Competition analysis

L’Oréal India Private Limited, Lotus Herbals Private Limited, Gold Fitness Private Limited, VLCC Personal Care Limited, and Jawed Habib Hair and Beauty Limited are the top players operating in the Indian beauty and wellness market.

The at-home beauty and wellness services, using an online platform, have gained huge popularity among Indian consumers, owing to the growing need for convenience and on-demand services at the doorstep. Significant players in the Indian at-home services market include UrbanClap, AtHomeDiva, and Eazy Salon.

Companies covered

• L’Oréal India Private Limited
• Lotus Herbals Private Limited
• O2 Spa Salon Private Limited
• Shahnaz Ayurveda Private Limited
• VLCC Personal Care Limited
• Jawed Habib Hair and Beauty Limited
• Gold Fitness Private Limited
• Fitness One Group India Limited
• Fitness First India Private Limited
• Colorbar Cosmetics Private Limited
• Affinity Beauty Salon Private Limited

Philippines Beauty & Personal Care Market Outlook 2030: Industry Insights & Opportunity Evaluation, 2019-2030

The post Beauty and Wellness Market in India 2019 first appeared on CRI Report.

The consumer landscape in the healthcare industry in India is expected to evolve during the 2019-2024 period. A paradigm shift is anticipated from volume-based care (fee-for-service healthcare, being independent of the service quality) to value-based care (healthcare providers are charged based on patients’ health outcomes).

Stakeholders in the Indian healthcare ecosystem are focusing on leveraging healthcare apps to make up for the inadequacies in healthcare infrastructure.

Increasing focus on patient-centric care, the emergence of advanced technologies, and changing business models have played a crucial role in driving the healthcare apps market in India. In terms of revenue, the healthcare apps market in India was valued at INR 27.01 Bn in 2018 and is estimated to reach INR 138.00 Bn by 2024, expanding at a CAGR of ~31.61% during the 2019-2024 period.

The demand for healthcare apps with differentiated services is projected to increase because it meets the varying expectations of consumers. Wellness management and appointment scheduling apps have witnessed wide popularity among consumers. The demand for chronic disease management apps is expected to witness rapid growth over the next few years.

Market Influencers

Digital transformation in the country, coupled with substantial support from the government, has fueled the growth of the healthcare apps market in India. The increase in digital reach in the country has been replicated by a swift growth in the number of mobile subscribers and Internet users in the country. The number of mobile application downloads has increased at an exponential rate from 6.5 Bn in 2016 to 12.1 Bn in 2017.

Internet service providers are offering mobile data at a low price to sustain in the competitive market, resulting in a monthly data consumption per unique connection, from 86 MB in 2014 to 8,320 MB in 2018. Thus, the increase in Internet density and the rise in the number of Internet users are driving the healthcare apps market in India.

The Indian government played a key role in the growth of healthcare apps market. The introduction of the National Health Policy in 2017 stimulated the adoption of various digital tools, including healthcare apps. Some of the major healthcare apps launched by the government include E-RaktKosh, Mera Aspataal/My Hospital, No More Tension, and Swasth Bharat.

The market has been experiencing significant challenges due to the lack of awareness, security issues, and uncertain app performance. Moreover, most consumers’ interest is limited to fitness and wellness management with a lack of knowledge regarding the diverse types of healthcare apps (disease-specific apps, medication reminder apps) available.

Furthermore, stakeholders are uncertain about the performance and efficiency of apps, owing to the unavailability of clinical performance data. The limited availability of app content in Indian languages also acts as an adoption barrier for healthcare apps.

Technology insights

Healthcare apps available in India mostly run on Android, iOS, and Windows platforms, which can be downloaded from the Google Play Store, Apple App Store, and Microsoft Store (for Windows phone). The introduction of advanced technologies like the Internet of Things (IoT), artificial intelligence (AI), Blockchain, and virtual reality are expected to disrupt the healthcare apps market.

The health data generated from healthcare apps can be leveraged by AI and machine learning algorithms and used to identify people with potential health risks. Further, an AI-based app can detect patients’ faces through a visual recognition system and assist in disease management. Internet of Medical Things (IoMT) has the potential to develop innovative apps, which connect to beacons placed across hospitals and aid indoor navigation within hospitals.

Competitive insights

The highly competitive healthcare apps market in India is fragmented with the presence of various small and medium-sized players. The prospective market has motivated several non-healthcare companies, including IT and software development companies, technology companies, and app development agencies to begin their operations in the country.

However, the market is yet in a nascent stage, and thus, players are experimenting with different business models to accomplish monetization. Among various models, licensing, third-party app development, in-app advertising, and pay-per-download have achieved significant success.

Companies covered

• Abbott India Ltd.
• HealthifyMe Wellness Pvt. Ltd.
• Infomoko Technology Pvt. Ltd.
• Kare4u Healthcare Solutions Pvt. Ltd.
• Lybrate India Pvt. Ltd.
• MediIT Health Solutions India Pvt. Ltd
• One Eighty Aamoksh Technologies Pvt Ltd.
• Portea Medical
• Practo Technologies Pvt. Ltd.
• Zoctr Health Pvt. Ltd.

Global Digital Health Market: Market Segments: By Technology (Mobile Health, Electronic Health Record, Telemedicine & Healthcare Analytics); By Component (Software, Hardware and Services); By End User (B2B & B2C); and Region – Analysis of Market Size, Share & Trends for 2014 – 2019 and Forecasts to 2030

The post Healthcare Apps Market in India 2019 first appeared on CRI Report.

Market insights:
Artificial Intelligence for speech recognition market in India is anticipated to expand at a compound annual growth rate (CAGR) of ~65.17% during the forecast period (2019-2024), and is expected to reach a value of INR 14.61 Bn by 2024, from INR 0.67 Bn in 2018. This market growth can be attributed to the growing use of speech recognition technology for voice commands in call intelligence, voice-powered devices, voice software systems, and third-party voice apps. Moreover, industries such as ICT, healthcare, BFSI, and automobile are increasingly using AI-based speech recognition technology to enhance efficiency, gain insights, and identify pertinent information from large databases.
Dependency on AI and machine learning has increased with the launch of new voice-interactive devices like smartphones, smartwatches, and smart home appliances. These voice-enabled devices, compatible with Alexa and Google Assistant, are gaining immense popularity among Indian consumers. Currently, more than 50% of the population use at least one wearable device that is embedded with AI-based speech recognition technology.

Competitive insights:
India is among the top five countries which has a large base of AI-driven start-ups. These start-ups provide solutions related to natural language processing (NLP), machine learning, and other technologies, and attract huge funding from investors who are keen on huge returns in the short run. Key investors in the AI-based speech recognition market include March Capital Partners, Sistema Asia, Accel Partners, and Ideaspring Capital.
The market is currently dominated by voice-based assistants like Siri, Cortana, Alexa, and Google Assistant. With a total of 22 scheduled languages and several hundred recognized dialects, companies are updating their databases with languages and dialects to remain competitive.
Although large parts of the market are held by major players like Microsoft, Apple, Google, and Amazon, several start-ups (Uniphore Software Systems, Manthan Software Services and Liv.ai) are also venturing into the voice assistants’ market. The success behind these AI-based speech recognition start-ups depends mainly on the personalization and uniqueness of the products and services provided by these companies.
Companies covered
• Liv.ai Pvt. Ltd.
• Manthan Software Services Pvt. Ltd.
• Mihup Communications Pvt. Ltd.
• Uniphore Software Systems Pvt. Ltd.
• Voxta Communications Pvt. Ltd.
• Amazon India Ltd.
• Apple India Pvt. Ltd.
• Google India Pvt. Ltd.
• Microsoft India Pvt. Ltd.
• Nuance India Pvt. Ltd.

The post Artificial Intelligence for Speech Recognition Market in India 2019 first appeared on CRI Report.