2020/6/1 – CRI Report

Robotics Manufacturing and Start-ups in India 2020

admin — Sat, 12 Sep 2020 05:26:30 +0000

Market insights
The robotics market in India has gained momentum as a result of industrial expansion, digital revolution and adoption of automation at a large scale. In terms of annual installation, the industrial robotics market in India stood at 5,000 units in 2019 and is estimated to reach 11,760 units by 2025, expanding at a compound annual growth rate (CAGR) of 14.41% during the 2020-2025 period. Industrial robots can be automatically controlled, programmed and manipulated in three or more axes. Based on mechanical configuration and level of autonomy, industrial robots are classified as stand-alone robots, cobots and mobile robots.
Industrial applications of robotics:
The automotive, healthcare, pharmaceutical, plastic, metal, electrical and electronics sectors are the major end users of industrial robotics in India. The automotive industry has been the leading end user of industrial robots, accounting for ~48% of annual installations in 2019. Automotive manufacturers have been keen to adopt automation solutions in their production plants to improve productivity. The strong presence of various international and domestic automotive manufacturers has fueled the demand for industrial robotics in the country. Various automotive manufacturers like Tata Motors Ltd., Mahindra and Mahindra Ltd., and Maruti Suzuki Ltd. have strengthened on indigenous production of robots.
The demand for industrial robotics from general manufacturing industries including plastic, metal, electrical, electronics, food and pharmaceutical is anticipated to pick up at a healthy rate over the forecast period. The fourth industrial revolution or industry 4.0 is expected to play a pivotal role in propelling the demand for industrial robotics in India. The healthcare industry has also emerged as one of the prominent users of robotics, especially in the areas of hospital applications, surgery, diagnostics and rehabilitation.
Market influencers:
Technological evolution has helped in dealing with complexities of industrial operations and thus led to a spurring demand for automated robotic solutions across the different industrial sectors. Robotics offers an array of advantages such as cost-efficiency, enhanced quality and flexibility in production, as well as improved safety and solution for labor shortage, which has stimulated the adoption of robotics.
India’s emergence as the global automotive production hub has attributed to the healthy growth of the Indian robotics market. Industrial robots played an instrumental role in enhancing flexibility and precision in automotive manufacturing processes. Furthermore, smart manufacturing through robotics has driven the demand for robotics in various sub-sectors of the manufacturing industry including electronics, pharmaceutical, food, machinery and equipment, and metals.
India has embraced robotics at a slower pace as compared to countries like the U.S., China, South Korea and Japan. The high cost of ownership owing to the exorbitant cost of hardware components, maintenance, support, and research and development is a major roadblock. Furthermore, India lacks in terms of trained resources for the implementation, integration and maintenance of industrial robots. Moreover, the lack of a standard programing platform and user interface poses substantial challenges.

Impact of COVID-19:
The robotics market has immense opportunities to demonstrate unique use cases for various industries. Robots enable industries to function impeccably with reduced human intervention. In the wake of the pandemic, the adoption of industrial robots has expedited since they offer a safe interface between patients and frontline healthcare workers.
Industrial robot manufacturers including Asimov Robots Pvt Ltd, Milagrow HumanTech, Invento Robotics and Persapien Innovations came up with unique robotics solutions for applications such as disinfection and sanitization, patient screening, remote treatment and delivery of food and medicines. Furthermore, the unavailability of human workers owing to the lockdown has encouraged players in automotive and logistics sectors to implement robotics in their daily operations.

Companies covered
Companies
• DiFACTO Robotics and Automation
• Gridbots Technologies Pvt. Ltd
• Hi-tech Robotic Systemz Ltd
• Pari Robotics
• Systemantics India Pvt. Ltd
Start-ups
• ASIMOV Robotics Pvt. Ltd.
• Bharati Robotic Systems
• CynLr
• Grey Orange India Pvt. Ltd.
• Invento Robotics
• Miko
• Nocca Robotics
• Planys Technologies
• Sastra Robotics India Pvt. Ltd.
• Unbox Robotics

The post Robotics Manufacturing and Start-ups in India 2020 first appeared on CRI Report.

MSME Financing Market in India 2020

admin — Sat, 12 Sep 2020 05:26:21 +0000

Micro, small and medium enterprises (MSMEs) play a pivotal role in the Indian economy. About 63.38 Mn enterprises operational in various industries have provided employment to more than 111 Mn people. The MSME sector accounts for 30% of the country’s GDP, which is likely to touch 50% in 2025. The industry’s financing needs depend on the nature, size, customer segments and stage of development of the different businesses. Financial institutions have limited their lending exposure to the Indian MSME industry due to the high cost of service, small ticket size of loans and limited ability of MSMEs to offer immovable collaterals.
As of 2019, the overall addressable demand for external credit was ~INR 41.64 Tn, while the total supply of fund stood at INR 13.54 Tn.
Therefore, the credit gap in the MSME industry accounted for ~INR 28.10 Tn in 2019.
Debt demand of the MSME sector in India:
The consolidated debt demand (both short-term and long-term finance) by Indian MSMEs accounted for ~99.39 Tn in 2019. Microenterprise debt demand accounted for INR 13.32 Tn, small enterprise accounted for INR 24.57 Tn, and medium enterprise accounted for INR 3.75 Tn of the total debt demand in the industry. Medium and small firms being more formalized in operations are better at securing collaterals with NBFCs and banks than micro-enterprises.
Credit supply to the MSME sector in India:
The overall credit supply, including both the formal and the informal sectors, is worth INR 86.08 Tn. The formal and the informal sectors contribute ~INR 13.54 Tn and INR 72.54 Tn, respectively to the overall credit supply. Banking and other financial institutions account for ~INR 11.68 Tn of the overall formal finance supply to the Indian MSME industry.
Credit gap in the MSME sector in India:
The overall credit gap is estimated to be ~INR 28.10 Tn, which can be attributed to underserved micro and small units. Further, lack of awareness among entrepreneurs about the various loan products and lack of proper documentation have considerably reduced the supply of debt.
Impact of COVID-19:
Small businesses are the most vulnerable to an unexpected crisis like COVID-19 because of their size, scale of business operation and limited financial management resources. However, the government has announced several policy measures to minimize the losses.
The announcement of a targeted long-term repo operation (TLTRO) of INR 500 Bn, a grant of INR 3 Tn collateral-free automatic loans, INR 200 Bn subordinated debt to stressed MSMEs, and a complete ban on global tenders for procurement of goods and services for up to INR 2 Bn are a few of the crucial policy mandates.
Companies covered:
• Axis Bank of India
• Bajaj Finserv Limited
• Central Bank of India
• Federal Bank Limited
• HDFC Bank Limited
• ICICI Limited
• Kotak Mahindra Bank Limited
• State Bank of India
• Union Bank of India
• Utkarsh Micro Finance Bank

The post MSME Financing Market in India 2020 first appeared on CRI Report.

Preventive Healthcare Market in India 2020

admin — Sat, 12 Sep 2020 05:26:15 +0000

Preventive healthcare refers to the branch of medicine that helps in the early detection of diseases, thus allowing patients, access to prompt treatment. There are five stages of preventive healthcare – primal prevention, primordial prevention, primary prevention, secondary prevention and tertiary prevention.

Market insights:
In 2019, preventive healthcare accounted for ~11% of India’s overall healthcare expenditure. The preventive healthcare market in India was valued at INR 3.71 Tn in 2019 and is expected to reach INR 14.58 by 2025, expanding at a compound annual growth rate (CAGR) of ~27.30% during the 2020-2025 period.
The rise in prevalence of chronic and non-communicable ailments like hypertension, diabetes, arthritis, cancer and cardiovascular diseases, as well as the easy availability of advanced medical devices and services are driving the market to prosper. Moreover, the cost-effective nature of preventive healthcare has made it more adaptable for Indians. However, lack of awareness regarding preventive healthcare facilities among people and inadequate insurance coverage for preventive treatments are impeding market growth.

Segment Insights:
The preventive healthcare market in India is segmented into healthy consumption, fitness and wellness, infection prevention care, health monitoring, and wellbeing assurance segments. As of 2019, the preventive healthcare market was dominated by the healthy consumption segment, which accounted for ~26.55% of the total market revenue. The healthy consumption segment consists of nutraceuticals, healthy foods, organic skincare and other skincare products.
The wellbeing assurance market is anticipated to be the fastest growing, expanding at a CAGR of ~31.91% during the forecast period. The growth can be attributed to the increasing popularity of telehealth and telemedicine services, owing to the social distancing and self-isolation norms imposed to curb the spread of COVID-19. By 2025, fitness and wellness, infection prevention care, and health monitoring segments are expected to hold ~9.30%, ~16.15% and ~22.80% shares, respectively, in terms of market revenue.

COVID-19 impact analysis:
The outbreak of the novel Coronavirus, followed by a long-term global lockdown has had a severe impact on the overall preventive healthcare market in India. Market segments including health monitoring devices, healthy consumption products, digital healthcare services, telehealth services and telemedicine solutions are likely to benefit amid the crisis. The surge in demand for immunity-boosting consumption products and infection-prevention products, growing anxiety regarding hospital and outpatient visits, and initiatives undertaken by the Indian government to encourage preventive healthcare are likely to accelerate market growth. The fitness and wellness segment has witnessed a significant setback due to the risk of virus transmission from social gatherings, and the imposition of social distancing norms.

Companies covered
• 3M India Limited
• Amway India Enterprises Private Limited
• Fitness First India Private Limited
• HealthifyMe Wellness Private Limited
• Practo Technologies Private Limited
• Serum Institute of India Private Limited
• Svasth Life Private Limited
• GOQii Technologies Private Limited
• OMRON Healthcare India Private Limited
• Xiaomi Technology India Private Limited

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

Pension Fund Market in India 2020

admin — Sat, 12 Sep 2020 05:26:06 +0000

The Indian pension industry is a complex and fragmented system. However, the current demographic structure makes it one of the most feasible markets for pension fund providers. The fertility rate in the country has decreased drastically from 2.50 in 2011 to 2.22 in 2018. Further, the country’s rich demographic dividend calls for a robust social security framework. The three most crucial elements of the industry are Employee Provident Fund (EPF), National Pension Scheme (NPS) and Public Provident Fund (PPF) catering to the needs of the different segments of population.
The retirement fund corpus was worth ~INR 25,078 Bn in 2018 and is expected to reach INR 62,353 Bn by 2025, expanding at a compound annual growth rate of ~14.33 % during the 2020-2025 period.
The Indian government is restructuring the current pension system by promoting pension coverage among informal sector workers. The collected retirement fund corpus is invested in long-term growth projects, which accelerates the pace of economic development of the country.
The country’s pension industry is highly underpenetrated as ~88% of the population does not possess any social security scheme, which indicates that the market has huge growth potential.
Market segment insights:
The retirement fund corpus is inclusive of contributions from Employee Provident Fund and related plans, Life Insurance and Annuity schemes, Private Pension Fund, Public Provident Fund, and the National Pension Scheme.
More than 40% of the current corpus is contributed by Employee Provident Fund, the most developed segment of retirement planning for the organized sector workforce. However, contributions from Life Insurance and Annuity plans are expected to grow significantly during the forecast period. With increasing financial inclusion, the market for Public Provident Fund and National Pension Scheme would expand exponentially, especially among those employed in the unorganized sector.
Impact of COVID-19:
The impact of the pandemic on the Indian pension fund market is likely to intensify in the long run. The government has redesigned the interest rate, which is expected to diminish private savings and pension fund assets. Further, several policy decisions to support pension fund subscribers during the crisis period are expected to add to the problem of accounting and returns for industry players.

Companies covered:
• HDFC Life Insurance Company Limited
• Aviva Life Insurance Company India Limited
• Aditya Birla Sun Life Pension Management Limited
• HDFC Pension Management Company Limited
• ICICI Prudential Pension Funds Management Company Limited
• LIC Pension Fund Limited
• Reliance Nippon Life Insurance Company Limited
• SBI Pension Funds Private Limited
• Tata AIA Life Insurance Company Limited
• UTI Retirement Solutions Limited

The post Pension Fund Market in India 2020 first appeared on CRI Report.

Healthcare Market in India 2020

admin — Sat, 12 Sep 2020 05:25:53 +0000

In terms of revenue and employment generation, healthcare has been one of the biggest industries in India. Kerala is one of the states in India that offers outstanding healthcare facilities.

Market insights:
The healthcare market in India was valued at INR 14.32 Tn in 2019 and is expected to expand at a compound annual growth rate (CAGR) of ~34.04% during the 2020-2025 period, to reach INR 65.51 Tn by 2025. The growth of the market can be attributed to the surge in demand for home healthcare devices, digital healthcare solutions and pharmaceutical products. Rise in the prevalence of chronic diseases, growing investments from public and private investors, and the emergence of advanced technologies like telehealth and telemedicine solutions are some of the major factors propelling the growth of the Indian healthcare market. Relaxation of FDI and increased government expenditure are some of the key factors to drive the healthcare market during the 2016-2020 period. However, inadequate healthcare infrastructure in India and low penetration of health insurance are impeding market growth.

Segment Insights:
The healthcare market in India is segmented into outpatient care centers, hospitals, pharmaceuticals, medical equipment and supplies, diagnostic services, digital healthcare, research and development, medical insurance and medical tourism. As of 2019, the healthcare market was dominated by the hospitals segment, which accounted for about 38.50% of the total market revenue. By 2025, the market share of the hospitals segment is expected to decline by ~10.55% to hold around 27.95% of the overall healthcare market revenue. During the 2020-2025 period, the digital healthcare segment is anticipated to become the fastest growing segment in the market as a result of the self-isolation norms imposed to restrain the spread of COVID-19 and the cost-benefit obtained from using digital healthcare solutions. Other segments of the market which are expected to witness high growth rate during the forecast period are the pharmaceuticals, and medical equipment and supplies segments.

COVID-19 impact analysis:
The outbreak of the contagion, followed by a long-term nationwide lockdown has had a severe impact on the overall healthcare market in India. The market segments that are likely to be positively impacted during the pandemic and the period thereafter are the digital healthcare segment, pharmaceuticals, medical equipment and supplies segment. The medical research and development (R&D) segment and the medical insurance segments are expected to experience a relatively short-term benefit during this crisis period. The medical R&D segment and the insurance segment are some of the least prioritized segments of the Indian healthcare industry and hence, the impact of COVID-19 on these segments are expected plunge with the diminishing effect of the pandemic. Other healthcare segments such as hospitals, medical tourism, and outpatient care centers are witnessing severe downfall in their markets due to the risk of virus transmission from social gatherings and the imposition of the social distancing norms.

Companies covered
• Apollo Hospitals Enterprise Limited
• Aster DM Healthcare Limited
• Cipla Limited
• Dr. Lal PathLabs Limited
• Fortis Healthcare Limited
• Healthcare Global Enterprises Limited
• Narayana Hrudayalaya Limited
• Sun Pharmaceuticals Industries Limited
• Columbia Asia Hospitals Private Limited
• Max Healthcare Private Limited

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

Green Technology Market in India 2020

admin — Sat, 12 Sep 2020 05:25:48 +0000

Market insights
The green technology market in India is mostly dominated by green energy; electric vehicles, and water and wastewater treatment are the other key market segments. In terms of installed capacity, the green energy sector stood at 87.02 GW in FY 2020 and has set a target to reach 275 GW of installed capacity by FY 2027. In terms of sales volume, the electric vehicles market in India reached 156,000 units in FY 2020, expanding at a compound annual growth rate (CAGR) of 66.90% during the FY 2018-FY 2020 period. In terms of revenue, the market for water and wastewater treatment in India is estimated to reach INR 2,141.60 Bn in 2025, expanding at a CAGR of 12.28% during the forecast period.
Segment insights:
Based on installed capacity, the green energy sector in India is dominated by solar energy, followed by wind, biomass and small hydro. Several initiatives to promote solar park, solar cities, solar pumps and the National Solar Mission can be attributed for the remarkable growth of solar capacity in India. India’s installed capacity for wind energy stood at 34.63 GW in FY 2020. Wind energy projects in India are mostly concentrated in the states of Tamil Nadu, Rajasthan and Maharashtra. The country aspires to attain green energy capacities of 175 GW and 275 GW by FY 2022 and FY 2027, respectively. However, supply chain disruptions owing to the pandemic and safeguard duty on solar cells are likely to hinder the installation target.
Electric two-wheelers was the largest segment of the electric vehicles market in India in FY 2020, accounting for ~97.44% of the total sales volume. The other two segments – electric four-wheelers and bus – are slowly gaining traction owing to the gradual adoption of electric vehicles for public transport. Moreover, the growing popularity of hybrid e-cars is expected to propel the electric four-wheelers market.
Market influencers:
The enormous green energy potential in India, coupled with 100% FDI approval has made India an attractive destination for capital influx. During the FY 2018-FY 2020 period, the green energy sector in India received investments worth ~INR 1.34 Tn. Further, the Indian government’s focus to boost the electric mobility sector is projected to fuel the green technology market in India. Supportive policies like National Electric Mobility Mission Plan (NEMMP) and Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME) have fostered the penetration of electric vehicles in India. In addition, investments through public-private partnerships (PPP), reduction in tax and exemption of basic customs duty are estimated to boost the sale of electric vehicles over the forecast period.
The green technology market in India is constrained by the lack of an integrated and unified policy structure and the difficulty in accessing finance. There are numerous policies catering to various sub-segments of the green technology sector, which also lack in terms co-ordination at state and central levels. On the other hand, green technology start-ups face challenges in acquiring early-stage funding. The stringent eligibility criteria act as a roadblock for green tech entrepreneurs to be entitled for government-support schemes. Moreover, challenges in grid integration, scheduling, forecasting and power purchase agreements (PPA) impede the full-realization of green energy potential.

Impact of COVID-19:
The outbreak of COVID-19 has led to severe disruption in the solar energy supply chain since India is highly dependent on China for the sourcing of PV modules. The import of solar modules and cells dropped by 76.4% in the first quarter of CY 2020 as compared to the first quarter of CY 2019. Furthermore, the nationwide lockdown resulted in a halt in construction activities in the second quarter of CY 2020. The Ministry of New and Renewable Energy (MNRE) directed green agencies to consider the pandemic as force majeure (unprecedented events or circumstances beyond human control) and allowed a blanket extension of 30 days beyond the lockdown period for all renewable energy projects.
The interruption in the global supply chain and logistics has created lucrative opportunities for domestic players of the green technology market to enhance the self-sufficiency of the country. The government has stressed on the indigenous production of solar cells, PV components and Lithium-ion battery. The government’s focus to establish India as the manufacturing hub for electric vehicles has been pushed by the supply chain disruption in China, which is currently the leading manufacturer. Furthermore, the major turmoil created in the fossil fuel market during the pandemic has increased reliance on green energy owing to its flexibility and cost-effectiveness.

Companies covered
• Adani Power Limited
• Bharat Heavy Electricals Limited
• Exide Industries Limited
• Suzlon Energy Limited
• Tata Chemicals Limited
• Tata Power Limited
• Thermax Limited
• Ampere Vehicles Private Limited
• Hero Electric Vehicles Private Limited
• Mahindra Electric Mobility Limited

The post Green Technology Market in India 2020 first appeared on CRI Report.

Corporate Wellness Market in India 2020

admin — Sat, 12 Sep 2020 05:25:44 +0000

Market insights:
The corporate wellness market in India is anticipated to expand at a compound annual growth rate (CAGR) of ~5.75 % during the 2020-2025 period to reach a value of INR 21.53 Bn by 2025 from INR 14.59 Bn in 2019. Corporate wellness programs have gained much popularity owing to the surge in the number of lifestyle related diseases. The lack of proper diet, exercise and rest, and growing mental and physical stress also provide impetus to such programs.
Impact of COVID-19:
The COVID-19 pandemic has led to an unprecedented economic turmoil all over the world. India’s corporate wellness market is not expected to be resilient to its impact. Organizational management has undergone a drastic change in the wake of the pandemic. With organizations increasingly adopting the remote work structure, most corporate wellness market players have stepped up their game by providing better and more impactful wellness solutions to handle the COVID situation.
Several companies, which were previously at the crossroads about incorporating corporate wellness programs, have taken the big leap. Organizations are focusing more on employees’ well-being and trying to protect human resources. Overall, the corporate wellness market is on a definite growth curve amid the pandemic.
Market influencers:
Corporate wellness programs have gained momentum in recent times due to the growing culture of prioritizing healthcare and the general wellbeing. Companies have learned that it is essential to invest in human resources for better productivity and work engagement in the workplace the hard way. Further, corporate wellness programs aid in reducing healthcare costs.
Artificial intelligence (AI) and data analytics are being widely adopted by organizations across the country to enhance their employee wellness solutions. The corporate wellness industry is moving towards digitization, coming up with programs that incorporate technological features such as a wearable device or a mobile app for enhanced employee engagement. Moreover, improved awareness regarding mental health has forced organizations to focus on destigmatizing mental health topics among employees.
Competitive landscape:
The corporate wellness market in India is led by a balanced mix of established players, including mid-level, emerging, and small ones. These players provide a complete range of services and solutions to their vast customer base present across the country. Companies like Apollo Life Care Pvt. Ltd., BetterLYF Wellness Pvt. Ltd. and Workplace Options Pvt. Ltd. are the key market players.

Companies covered:
• Apollo Life Care Pvt. Ltd.
• Bargain Technologies Pvt. Ltd.
• BetterLYF Wellness Pvt. Ltd.
• Classhop technologies India Pvt. Ltd.
• HealthifyMe Wellness Pvt. Ltd.
• Meta Wellness Pvt. Ltd.
• Stepathlon Lifestyle Pvt. Ltd.
• TFL Continuous Learning Pvt. Ltd.
• Truworth Health Technologies Pvt. Ltd
• Workplace Options Pvt. Ltd.

The post Corporate Wellness Market in India 2020 first appeared on CRI Report.