COVID-19 Impact Assessment:

The coronavirus-related shutdowns in the country have brought about unprecedented changes in all industry segments – the social media marketing and advertising industries are no exceptions. Presently, people are spending more time indoors, as a result of which content consumption has skyrocketed. Thus, brands are more interested in advertising on social media, gaming and over-the-top (OTT) platforms, making the most of these platforms in recent times. Amid the pandemic, companies/brands that aggressively use social media marketing as a part of their marketing strategy are expected to make necessary budget cuts until the situation is brought under control. However, it is being estimated that going forward there will be an increase in budgetary allocation for digital marketing by brands/companies.

Market Trends:

Nowadays, social media marketing professionals are increasingly adopting artificial intelligence, since it can help to increase revenue and reduce business costs. In social media marketing, several AI-powered tools exist to deliver insights from a brand’s social media profile and audience. Brands often use AI to personalize email marketing campaigns based on consumer behavior and preferences.
Currently, businesses are spending an excessive amount of money on influencer marketing to expand their reach among consumers. Social media, in present times, is mostly dominated by influencers who receive PR kits by brands of every new launch, and are paid massive amounts to promote the same.

Market Challenges:

The incessant exhibition of original content is a real challenge in the social media marketing industry. Keeping up with the presence of a brand on different social media platforms is a task and it’s easy to fall prey to the monotony of similar content. It is crucial for marketers to understand the target audience and create posts that increase audience engagement. Social media marketing professionals are often focused on gaining followers and promoting a brand. They tend to forget that audience engagement not only increases credibility but also attracts new customers. Therefore, it is important for brands to know the audience better by engaging in conversations with them on social media platforms, at which they often fail.

Companies profiled:

• BC Web Wise Pvt. Ltd.
• Brainwork Technologies Private Limited
• Gozoop Online Pvt. Ltd.
• I Knowledge Factory Pvt. Ltd.
• Mind & Matter Marketing Solutions Pvt. Ltd.
• Sixwebsoft Technology Pvt. Ltd.
• ShootOrder
• Sparx IT Solutions Private Limited
• Techmagnate
• Resultrix

The post Social Media Advertising Industry in India 2020 first appeared on CRI Report.

EU5 Blockchain Technology Market (2018-2023)

Segment insights:

The General Insurance Corporation (GIC) has a monopoly in the market with more than 80% stake in the Indian reinsurance business. Foreign players like AXA France Ve, Munich Re and Swiss Re have been underwriting risks for Indian insurers. They have also been gradually increasing their share in the industry since 2017.
Further, in terms of operations, non-life insurance business accounted for more than 95% of the total premium ceded in FY 2019. Fire and motor insurance businesses add the highest share of the premium to the Indian reinsurance industry.

Market trends:

Adoption of new technologies, capital market structuring techniques, and bundling of value-added services are expected to drive the reinsurance industry in the coming years. The industry is witnessing a change in the service offerings to optimize operations and the overall business model. Further, innovative solutions such as InsurTech are expected to transform the industry value chain during the forecast period.
Impact of COVID-19:
Reinsurers and insurers have been severely affected by the economic repercussions in the wake of the pandemic.
New insurance businesses have been postponed, existing renewals have been delayed, and industry players are scouting for new products, channels, pricing discounts, and even new regulatory compliance requirements. The impact is most significant across the casualty, property, marine, liability, and contingency classes of business.
However, technology is expected to be the most noteworthy remedial measure to assess and manage the impact of the pandemic on the industry.

Companies covered:

• General Insurance Corporation of India (GIC)
• Axa France Vie – India Reinsurance Branch
• General Reinsurance AG – India Branch
• Hannover Re – India Branch
• Lloyd’s India
• Munich Re India Services Private Limited
• RGA Life Reinsurance Company of Canada – India Branch
• Scor Se – India Branch
• Swiss Re Services India Private Limited
• XL Insurance Company SE – India Reinsurance Branch

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

Market insights:

Indian companies’ share in the total value of contracts awarded by the Indian Union Defence Ministry for the procurement of defense equipment has increased steadily over the last five years, and stands at ~75.03% in FY 2020 (as of January 2020). According to the Ministry of Defence, over the last four years, from FY 2016 to FY 2020 (up to January 2020), a total of 158 contracts were signed with Indian vendors, which include private sector defense manufacturers/MSMEs/SMEs and start-ups, against 100 contracts with foreign vendors for the capital procurement of defense equipment for the armed forces.
In July 2020, the Indian Defence Acquisition Council (DAC) approved an amount of INR 389 Bn for the capital acquisition of various platforms and equipment required by the Indian Armed Forces. The DAC has announced that, focusing on indigenous design and development, INR 311.3 Bn worth of equipment acquisitions, out of INR 389 Bn, will be obtained from the domestic defense manufacturing companies, while the rest will be acquired from global OEMs. Several Indian MSMEs will be the prime tier vendors in this manufacturing project, along with other major government defense organizations.

Orders placed, over the last five years, by the Indian Ministry of Defence to private sector defense manufacturing vendors such as Titagarh Wagons Ltd., Force Motors Pvt. Ltd., TATA Power SED, Tech Mahindra Ltd., TATA Motor Ltd., Ashok Leyland Ltd, Bharat Forge Ltd, MKU Ltd, SMPP Delhi, and Alpha Design include items like 1,000 tons of fuel barges, light strike vehicles, portable diver detection sonar (PDDS), RFID-based SMART Card, 6×6 and 8×8 High mobility vehicle with material handling crane, dual technology mine detector, ballistic helmet, bullet proof jacket (BPJ), and integrated gunnery.

Impact of COVID-19:

The Indian defense industry witnessed a slackened growth momentum, owing to the restrictions in global trade following the outbreak of COVID-19 in the country. Imposition of a strict nationwide lockdown from March 24th to May 31st 2020, had halted the production/service cycle, disrupting the supply chain, and eventually impacting company inventories in the Indian defense manufacturing industry. According to the Indian Ministry of Defence, Indian defense companies have suffered a loss of around INR 225 Bn worth of potential revenue during the nationwide lockdown period. However, the Indian Ministry of Defence has announced financial packages and reforms to strengthen the MSME sector and generate employment. Corporatization of the Ordnance Factory Board (OFB), indigenization of imported spares, and setting up of realistic qualitative requirements for weapons to support local industries are other measures taken by the government to revive the Indian defense industry, post the pandemic.

Challenges faced by private sector Indian defense manufacturing companies:

India has failed to attract substantial private sector investments in the defense manufacturing sector. This has happened mainly due to delays in taking decisions on the part of the government, placing unsystematic orders, canceling tenders, and placing of unreasonable qualitative requirements by the Indian Armed Forces. Many Indian private companies had invested in enhancing their defense production capabilities with a view to receive government support and orders, but have been left disappointed. In May 2020, Tonbo Imaging, a private sector defense equipment manufacturing start-up, wrote an open letter to the current Prime Minister of India, highlighting the cancelation of orders and delays in making payments by the government.

Companies covered:

• Reliance Naval and Engineering Limited
• Kalyani Strategic Systems Limited
• L&T Defence
• TATA Advanced Systems Limited
• TATA Power Strategic Engineering Division (SED)
• Axio Biosolutions Private Limited
• CRON Systems Private Limited
• ideaForge Technology Private Limited
• Tonbo Imaging Private Limited
• Viz Experts India Private Limited

The post Private Sector Participation in Indian Defense Industry 2020 first appeared on CRI Report.

In 2019, India was the third-largest consumer of oil, accounting for ~5.4% of the global oil consumption. Oil and gas jointly accounted for 36.37% of the country’s overall energy mix in 2019. Oil consumption in India stood at 5,270.73 thousand barrels per day in 2019, and is projected to reach 5,490.92 thousand barrels by 2025, expanding at a compound annual growth rate (CAGR) of 2.25% during the 2020-2025 period.

Production insights:

As of 2019, there were 4.66 Bn barrels of proven oil reserves and 1.33 Tn cubic meters of proven natural gas reserve in India. In 2019, India accounted for ~0.9% of the global oil production and ~0.7% of the global natural gas production. The production of oil and natural gas fell between 2018 and 2019. Low productivity of aging oilfields, coupled with the declining trend of prices led to the decline in production volume in 2019. The oil and gas production is estimated to further plummet in 2020 in wake of the COVID-19 pandemic. Unavailability of workers, movement restriction, low offtake from key consumers, and closure of offshore gas fields are expected to impact the production in 2020. However, the production of natural gas is anticipated to grow over the forecast period, owing to the Indian government’s ambition to reduce import dependency.

Consumption insights:

A rapidly growing population, industrialization, and urbanization contributed to the steady growth of oil and natural gas consumption. India is highly reliant on imports to meet its demand for oil and gas – ~80% of oil demand and ~50% of natural gas demand are met through imports. In 2020, mainly in the second quarter of CY 2020, stringent lockdown measures imposed on account of the pandemic, impacted the demand for oil and gas in the transportation and industrial sectors. The domestic demand is anticipated to recover from the fourth quarter of CY 2020. The consumption of natural gas is likely to surge over the forecast period, owing to the government’s goal to increase the share of natural gas in the primary energy mix.

Market influencers:

The steady increase in population, coupled with the rising income level has amplified the rate of urbanization in the country, which in turn, is fostering the growth of the oil and gas industry in India. Improved infrastructure and ease of doing business have been encouraging the participation of international players, such as BP plc, Saudi Aramco, Abu Dhabi National Oil Company (ADNOC), and Total SA.
The rapid growth of the Indian transportation industry has also bolstered the demand for oil and gas industry in India. Light-duty and heavy-duty vehicles are the leading consumers of oil and gas, followed by aircraft, marine, and rail. Furthermore, the advancement of drilling techniques, equipment, and technology is expected to augment the growth of the Indian oil and gas industry. The application of cutting-edge oil-producing technologies is likely to help in exploring novel unconventional sources rather than relying on depleting conventional sources. However, factors like the declining trend in domestic production, heavy reliance on import, dominance of state-owned companies, and limited infrastructure investments are impeding market growth.

Impact of COVID-19:

The oil and gas industry has been experiencing an unpredicted crisis on account of the two-pronged effect of the international price war and pandemic, which is likely to mark a substantial impact on the domestic market, both in the short and long term. The lockdown led to a sharp dip in mobility, transportation, and industrial activities, resulting in a slump in oil and consumption. Low demand for oil, gas, and refined products is anticipated to create a supply-demand imbalance and a consequent price fall in the near future.
In the long run, the market is predicted to gain momentum; however, an oversupply is likely to be predominant in the global market. Workers laid off as an instantaneous effect of the pandemic, is likely to give rise to labor shortage during the revival phase. The focus of the industry is expected to shift towards low-cost and short-cycle sources over the forecast period. Expansion of innovative segments like shale oil and shale gas, adoption of new business models, and market consolidation are projected to be the long-term trends in the market.

Companies covered:

• Bharat Petroleum Corporation Limited
• Chennai Petroleum Corporation Limited
• Hindustan Petroleum Corporation Limited
• Indian Oil Corporation Limited
• Mangalore Refinery and Petrochemicals Limited
• Numaligarh Refinery Limited
• Oil and Natural Gas Corporation Limited
• Oil India Limited
• Reliance Industries Limited
• Nayara Energy Limited Private

The post Oil and Gas Industry in India 2020 first appeared on CRI Report.

Oilfield operations management providers:

• ABB Ltd
• Infosys Limited
• Emerson Electric Co.
• OCS Services (India) Pvt Ltd.
• Protiviti India Member Private Limited

The post Oilfield Operations Management System Opportunities in India 2020 first appeared on CRI Report.

Market insights:

As of 2019, the polycarbonate resin market in India was valued at INR 24.75 Bn, and is expected to expand at a compound annual growth rate (CAGR) of ~9% during the 2020-2025 period, to reach INR 40.76 Bn by 2025. In 2019, India accounted for ~2.05% of the global polycarbonate resin market revenue. Government initiatives to develop commercial and industrial roofing in India, and the cost-effective nature of PC resin are some of the significant factors expected to bolster market growth. India does not account for any domestic production of polycarbonate resin. Therefore, the country’s dependency on imports to meet its domestic demand is restraining the growth of the market. Presence of toxic chemicals in polycarbonate resins cause environmental and health hazards in case of exposure and this, in turn, restrains the growing usage of these chemicals.

COVID-19 impact analysis:

The outbreak of the contagion, followed by a long-term nationwide lockdown decelerated the growth momentum of the overall polycarbonate resin market in India. Polycarbonate resin is a significant raw material used in the production of input components by the country’s end-use industries. Therefore, the impact of COVID-19 on these related industries mark a proportional impact on the polycarbonate resin market in India. During this crisis period, the end-use industries like the automotive, construction, appliances, and sports safety equipment experienced halt in their potential production cycle, imparting a negative impact on the demand for polycarbonate resins as well. On the other hand, the polycarbonate resin market witnessed a sharp rise in demand as an input chemical from the industries like medical devices and equipment, electronics and electricals at the same time.

Competitive analysis:

In India, the polycarbonate resin market is dominated by foreign subsidiaries like Covestro (India) Private Limited, SABIC Innovative Plastics India Private Limited, and Teijin India Private Limited. Around 60% of the country’s total demand for polycarbonate resin end-products is sustained by Covestro India and SABIC Innovative Plastics cumulatively. Other players in the market include MG Polyplast Industries Private Limited, Power Chem Plast Limited, Samsung SDI India Private Limited, and Tuflite Polymers Limited. India is expected to have its first local polycarbonate resin manufacturing plant set up by 2023, by GAIL Limited.

Companies covered:

• Lotus Roofings Private Limited
• MG Polyplast Industries Private Limited
• Power Chem Plast Limited
• Tuflite Polymers Limited
• Covestro (India) Private Limited
• SABIC Innovative Plastics India Private Limited
• Samsung SDI India Private Limited
• Teijin India Private Limited

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

Market insights:

The polymer additives market in India was valued at INR 48.29 Bn in FY 2019 and is expected to expand at a compound annual growth rate (CAGR) of ~7.23% during the FY 2020-FY 2025 period, to reach a value of INR 72.56 Bn by FY 2025. Growing popularity of plastic materials as a substitute for other packaging and input materials is a leading factor driving the growth of the polymer additives market in India. Increased government participation in encouraging domestic production of raw materials and end-use products, and implementation of policy measures by the central government to promote the manufacturing of fuel-efficient vehicles are other key factors driving market growth. On the other hand, the toxic nature of polymer additives and a constant fluctuation in the prices of its raw materials, including crude oil, disrupt the stable growth of the polymer additives market.

Segment insights:

The polymer additives market in India is segmented into plasticizers, heat stabilizers, antioxidants, and other polymer additives. As of FY 2019, the polymer additives market was dominated by the plasticizers segment which accounted for about 40% of the total market revenue. During the FY 2020-FY 2025 period, the plasticizers segment is expected to be the fastest growing segment, expanding at a CAGR of ~8.63%. The stabilizers and antioxidants segments are anticipated to witness a high growth rate of ~8.50% and ~7.88%, respectively, during the FY 2020-FY 2025 period.

COVID-19 impact analysis:

The long-term nationwide lockdown in wake of the pandemic had a substantial impact on the polymer additives market in India. During the pandemic period, the country’s prominent end-user industries like automotive, electronic appliances, construction, and white goods were severely affected in terms of their potential production as well as sales. Polymer additives, being one of the essential raw materials used by these end-use industries for the production of their input components, the polymer additives market witnessed a significant fall in its market demand. Thus, the impact of COVID-19 on the end products manufacturing industries marked a proportional and equivalent impact on the polymer additives market as well.

Companies covered:

• Amines and Plasticizers Limited
• Clariant Chemicals (India) Limited
• HPL Additives Limited
• KLJ Plasticizers Limited
• Payal Polyplast Private Limited
• Adeka India Private Limited
• Baerlocher India Additives Private Limited
• Lanxess India Private Limited

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

Insurance brokers are representatives of clients’ interests in insurance contracts (not insurers), and act as an intermediary between insurers and the insured.
A significant number of brokers have entered the Indian insurance broking industry, since 2003, when the Insurance Regulatory and Development Authority (IRDAI) allowed brokers to act as intermediaries. As of July 2020, 468 insurance brokers have been licensed by the IRDAI. Brokers are the preferred channel of business in India as they account for more than 70% of commercial lines (marine, aviation, construction, engineering, risk, and liability insurance). Further, the dynamic and conducive regulatory landscape in the country is expected to propel industry growth in the coming years. As the Indian insurance market continues to grow organically with increasing population and insurance requirements, there remains a massive opportunity for disruption through technology.
The total premium collected through brokers grew from INR 170 Bn in FY 2014 to INR 372.68 Bn in FY 2019, expanding at a CAGR of 17.00% during the 2014-2019 period

Segment insights:

Non-life insurance accounts for a majority share of the broking business, whereas, life-insurance forms a mere 1% of the total distribution mix. The Indian insurance industry witnessed a growing contribution from the non-life insurance channel between FY 2014 and FY 2019 due to the increased penetration of motor and healthcare businesses in the country.
The large-sized and medium-sized corporates account for ~40%–50% of the customers; SME customers account for ~10%–20% and retail customers’ account for ~30%–40% of the broking business in India.

Impact of COVID-19 and the way forward:

The outbreak of deadly COVID-19 has increased awareness regarding insurance products (mostly health insurance products) among Indians. However, insurance renewals are getting delayed, owing to the lack of funds in the hands of policyholders. Property and casualty business, and fresh savings business have gravely hampered the market of insurance brokers in the country.
Furthermore, with a substantial drop in interest rates, credit spread is rising. Hence, the credit discount rate used for calculating mathematical reserves is expected to decline, putting pressure on premiums. Therefore, the opportunity to reinvest the maturing assets will be challenging for insurance brokers in India.
However, to keep policies in force, regulators can frame automatic renewal with a grace period for the payment of premium. Also, the Indian government can promote policies to ensure steady cash flow and accelerated payments of premium.

Companies covered:

• Aditya Birla Insurance Brokers Limited
• Edelweiss Gallagher Insurance Brokers Limited
• Global Insurance Brokers Private Limited
• Manappuram Insurance Brokers Limited
• Muthoot Risk Insurance and Broking Services Private Limited
• Narnolia Financial Advisors Limited
• Reliance Retail Insurance Broking Limited
• Share India Insurance Brokers Private Limited
• Tata Motors Insurance Broking and Advisory Services Limited
• Marsh India Insurance Brokers Private Limited

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

Massive open online courses (MOOC) are gaining popularity in India as they allow learners access to self-paced courses from anywhere and at any time, according to their requirement, over the internet. Major factors driving the growth of the massive open online courses in India include increased internet penetration in the country, easy access to quality education, and industry-relevant courses offered by MOOC. The online education market in India, which includes massive open online course (MOOC) providers, is expected to reach a value of INR 502.85 Bn by the end of 2025, expanding at a compound annual growth rate (CAGR) of ~41.02% during the 2020-2025 period.

Impact of COVID-19:

The coronavirus outbreak has caused complete disruption of the education system in India, affecting students across all ages, ranging from preschoolers to postgraduates. The Indian government has temporarily shut down all educational institutions across the country to contain the spread of the contagion.
With the shift from physical classrooms to online classes, the MOOC market has witnessed a steady growth in the number of free courses offered by the key market players. The pandemic has made the job market immensely volatile. With millions of layoffs and rise in unemployment in the country and worldwide, people have been mentally affected. The unstable job situation in the country has pushed recent graduates and professionals to opt for relevant courses to brush up on their skills or learn new ones. Thus, MOOC players have registered significant growth in the number of subscriptions to relevant online courses amid the lockdown.

Market influencers:

The extensive development of the country’s digital infrastructure has played an instrumental role in advancing the massive open online courses market in the country. Increase in the adoption of the internet and availability of high-speed connectivity, along with easy access to good quality pocket-friendly courses from prestigious educational institutions have further propelled the growth of the market.
However, the absence of digital literacy among the citizens and a lack of technological infrastructure in certain parts of the country, especially in rural areas, stand as significant obstacles for India’s massive open online courses market. Several other factors, such as the lack of awareness regarding online course offerings, preference for classroom teaching, and the challenge of a language barrier significantly hinders the industry’s growth.

Competitive landscape:

The massive open online courses market in India is led by a balanced mix of established players, numerous mid-level, emerging, and small players. These players provide a complete range of services and solutions to their vast customer base present across the country. Companies like Khan Academy, Coursera Inc., Skillshare International, and Udemy India are the key players in the market.

Companies covered:
• Brain4ce Education Solutions Private Limited (Edureka)
• Intellipaat Software Solutions Private Limited
• Jigsaw Academy Education Private Limited
• Sorting Hat Technologies Private Limited (Unacademy)
• Coursera Inc.
• Khan Academy
• Simplilearn Solutions Private Limited
• Skillshare International
• Udacity India Private Limited
• Udemy India

The post Massive Open Online Courses Market in India 2020 first appeared on CRI Report.