As a result of the COVID-19 pandemic, a majority of the e-commerce logistics players have completely moved to online payment methods. One such method is OTP-based contactless delivery, wherein the delivery executive drops the package at the customers’ doorstep and verifies the delivery through an OTP sent to the customers’ smartphone. Amazon and Flipkart have already implemented this method to ensure the safety of customers and delivery executives.

Global Space-Based RF & Microwave Technology Market to Reach $14,015.8 Million by 2031

The post Technology Landscape in India e-Commerce Market 2021 first appeared on CRI Report.

Market insights:
The OTT market can be segmented into video and audio OTT. The video OTT market in India was valued at INR 86.98 Bn in FY 2020. It is expected to expand at a compound annual growth rate (CAGR) of ~30.73% during the FY 2022 – FY 2026 period. Original premium content, especially in regional language, is one of the biggest growth drivers and differentiators, because several OTT platforms are vying for consumers’ attention. The audio OTT market was valued at INR 44.21 Bn in FY 2021 and is expected to reach INR 99.98 Bn by FY 2026, expanding at a CAGR of ~19.14% during the FY 2022 – FY 2026 period. An increased focus on launching original music is expected to help these platforms acquire new users, which will ultimately result in the expansion of the overall user base.

Segment insights:

The video OTT can be segmented on the basis of revenue models. The major revenue models of video OTT are advertising video on demand (AVOD) and subscription video on demand (SVOD). The AVOD model accounted for the major chunk of the total market revenue (~62.67%) for video OTT players in FY 2021, which is expected to continue as the leading segment till FY 2026. The SVOD model is growing faster and will contribute more to the total video OTT revenue. The OTT platforms can also be segmented on the basis of the market share of the major players. Hotstar has the maximum share in the video OTT market and Gaana leads in the audio OTT market.

COVID-19 impact analysis:
Amid the nationwide lockdown because of the ongoing coronavirus (COVID-19) pandemic, content consumption and subscriber count on OTT platforms surged. With an increase in viewers’ appetite for new content, OTTs are having to step up their efforts and deliver quality entertainment.
In 2020, the total domestic OTT consumption increased from 181 billion minutes to 204 billion minutes. With an increase in customer acquisition during the pandemic, OTT players are compelled to innovate and offer seamless experience in order to cater to the need for content. Some of the key strategies are collaborations with telecoms and the growth of the device ecosystem.

OTT (Over-the-Top) Market in India 2020

The post OTT (Over-the-Top) Market in India 2021 first appeared on CRI Report.

Market insights:
The healthcare analytics market was valued at INR 19.85 Bn in 2020. It is expected to reach INR 87.26 Bn by 2026, expanding at a compound annual growth rate (CAGR) of ~28.74% during the 2021 – 2026 period. Both indigenous and global companies develop analytical solutions for healthcare. The surge in adoption of these solutions propel market growth. The government, healthcare providers, and pharmaceutical companies are the major end users. Medical data analytics is expected to reduce the patient death rate by using focused tools for diagnosis and planning out proper treatment procedures.

Analytics use cases in healthcare:

Healthcare providers and pharmacies use analytics for various purposes such as training, research, and detection, diagnosis, and treatment of illness. These applications are carried out with the help of three types of analytics – descriptive, predictive, and prescriptive. Descriptive analytics is used to determine contagious levels of COVID-19 by examining the rate of positive test results in a specific population.

COVID-19 impact analysis:
In the wake of the pandemic, healthcare providers, professionals, and researchers employ artificial intelligence (AI), machine learning, and natural language processing to track, contain, and gain a comprehensive understanding of COVID-19. AI is used to predict the severity of the disease and identify at-risk populations. It is also utilized for detecting body temperature, contact tracing, and further investigation through mobile-based applications to determine infection levels. Analytics also help in efficiently monitoring violations of COVID-19 protocols and enforcing social distancing. Data collected with the help of analytics from various sources assist in predicting future trends of disease spread and infection rate, understanding the existing situations, and making several medical decisions to control the pandemic.

Speech Analytics Market: By Component (Solution and Services); By Organization Size (Large Enterprises, and Small and Medium-sized Enterprises (SMEs)); By Deployment (On-premise and Cloud); By Vertical (BFSI, Telecommunications, Healthcare, Retail, Government, Travel and Hospitality and Others); and Region – Analysis of Market Size, Share & Trends for 2014 – 2019 and Forecasts to 2030

The post Healthcare Analytics Market in India 2021 first appeared on CRI Report.

Impact of COVID-19:
With COVID-19 infections increasing again in the first quarter of FY 2022, there were delays in the commissioning of green energy projects and halting of capacity addition programs. The sales and registration of EVs also slumped in FY 2021. The registration of new EVs dropped by 20% in FY 2021 as compared to the previous year. The negative impact of the pandemic on pulp and paper, food and beverages, power, and electronics, which are the major end-user industries, slowed down the water and wastewater treatment market.
In the long term, the pandemic is anticipated to bring in several positive changes in the green technology market. Growing penetration of EVs in public transportation and increased participation of green energy sources in the energy mix are a few of them. EVs havethe potential to play a key role in lessening the economic impact of the pandemic by lowering oil import bills. On the other hand, electric mobility is projected to be the key facilitator of a sustainable growth plan of the transportation sector in a post-pandemic India.

Global Green Hydrogen Market to Reach $4,455.8 Million by 2031

The post Green Technology Market in India 2021 first appeared on CRI Report.

Market insights:
The fintech market was valued at INR 2.30 Trn in 2020. It is expected to expand at a compound annual growth rate (CAGR) of ~24.56% between 2021 and 2026 to reach ~INR 8.35 Trn by 2026. Increased penetration of the internet and smartphones, and rise in partnerships between fixed service incumbents and fintech companies propel its growth. Furthermore, funding through the Start-up India initiative, financial inclusion and enablement, tax and surcharge relaxation, and financial support to promote digital payments drive the market. Furthermore, funding support by the Indian government under the Start-up India initiative, financial inclusion and enablement, tax and surcharge relaxation, and financial support to promote the use of digital payments have also propelled the growth of the industry. Major economic interventions such as demonetization, promotion of digital payments through the Digital India, and cashless economy movements have fueled the use of fintech. However, complex regulatory and compliance laws, concerns regarding data security, and threat of cybercrime are a few of the factors that impede growth. Major players operating in the market include PhonePe Private Limited, One97 Communications Limited (Paytm), One Mobikwik System Private Limited (Mobikwik), and PolicyBazar.com.

COVID-19 impact analysis:
The fintech market has benefited from the pandemic. With the onset of the pandemic, the fintech sector became the forefront of the country’s financial inclusion struggle. The adoption of digital payments and lending surged. The market witnessed ~40% rise in the number of digital transactions amid the lockdown. Owing to the fear of public gathering, people started shifting from traditional financial methods to cashless and digital methods of payment. The InsurTech segment experienced significant growth as people increasingly adopted life and health insurances. The market is expected to develop substantially with the surge in digital payments other financial technology solutions

Companies covered
• ET Money
• Ezetap
• Freecharge Payment Technologies Private Limited
• Mswipe Technologies Private Limited
• One Mobikwik System Private Limited
• One97 Communications Limited
• PhonePe Private Limited
• Pine Labs Private Limited
• PolicyBazar.com
• PayU Payments Private Limited

Global AI in Fintech Market to Increase at 36.81% CAGR, which is anticipated to reach USD 39.87 billion by 2030

The post Fintech Market in India 2021 first appeared on CRI Report.

In the recent years, e-pharmacy emerged as a better and more convenient approach that addressed the issues faced by the consumers and provided superior customer solutions over its physical counterparts. The e-pharmacy market was valued at INR 50.71 Bn in 2020. It is estimated to reach INR 458.14 Bn by 2026, expanding at a compound annual growth rate (CAGR) of ~44.99% during the 2021 – 2026 period.

Segment insights:

The market is categorized into two segments – chronic and acute therapy. In 2020, the chronic therapy segment dominated the market, accounting for 63.42% of the revenue. It is expected to dominate during the forecast period. However, its market share is likely to decline to 53.92% in 2026. The acute therapy segment is forecast to achieve promising growth during the forecast period. Its market share is anticipated to increase from 36.58% in 2020 to 46.08% in 2026, expanding at a CAGR of 50.56% during the 2021 – 2026 period.

Consumers with chronic conditions require long-term treatment, and thus, have repeated need for medication. People prefer e-pharmacy platforms, owing to the availability of a wide range of medicines at discounted prices. Customers may increasingly prefer these platforms for managing acute ailments such as common cold in the coming years.

Market insights:

The market has gained traction in recent years; increased penetration of the internet and smartphones, prevalence of lifestyle disease, and government initiatives have fuelled its growth. Discounts impacting profitability, data breaches and cybercrime, pharmacovigilance and bottleneck in supply network are a few of the factors that impedes its development.

Several start-ups, leading e-commerce companies, and traditional brick-and-mortar stores have entered the market attracted by its immense growth potential. In 2020, it witnessed the entry of major players such as Amazon, Reliance, and Tata.

In June 10, 2021, Tata Digital bought the key e-pharmacy player, 1mg. In the same month, PharmEasy acquired 66% stake in Thyrocare.

Impact of COVID-19:
The COVID-19 pandemic has disrupted the nationwide healthcare system and severely impacted online pharmacy. With the onset of the second wave, e-commerce platforms such as e-pharmacy has developed more in this situation. The market witnessed huge spike in sales during the second wave. It is expected to rise again when the third wave hits.

Creating alliance with local pharmacy retailers enabled key players to address the gaps in their last-mile deliveries. Also, measures such as collaborating with e-payment platforms were taken to ensure safe and convenient transactions thereby attracting cashbacks, discounts and COD options in remote areas as well which helped in getting attention of customers from rural areas as well.

Companies covered
• 91Streets Media Technologies Private Limited (PharmEasy)
• 1mg
• MedPlus Health Services Private Limited
• Netmeds Marketplace Limited
• Medlife
• Apollo Pharmacies Pvt. Limited
• Healthkart
• mCHEMIST Global Private Limited
• Medsonway Solutions Pvt Ltd
• Truemeds

Related Report:

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Europe Epharmacy Market Research Report Forecast to 2027

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The post E-Pharmacy Market in India 2021 first appeared on CRI Report.

Market segment insights:
Based on product categories, the market can be segmented into online travel, retail, financial services, matrimony and classified, and other services.
In 2020, the online retail segment held the largest market share (~44.25%), followed by online travel (25.10%). Improved air and rail connectivity between tier I and tier II cities has increased domestic travel bookings, primarily through online platforms. However, in the wake of the pandemic, countries across the world were compelled to close their international borders. Domestic and international flights were canceled to curb the spread of the virus. Online travel aggregators reported zero business in the first quarter of FY 2021. After travel restrictions were eased and economic activities picked up pace, they focused on Focused on leisure tourism such as staycations and workations. This is expected to compensate for the losses in the travel business.
The online retail (e-tailing) segment was valued at INR 1,968.41 Bn in 2020 and is expected to reach INR 5,222.77 Bn by 2026. It is driven by the growth of internet-enabled devices, ease of shopping, innovative payment options, cashbacks, and discounts, as well as the rapidly evolving needs of customers.

COVID-19 impact assessment:

The pandemic and the subsequent lockdown have severely impacted the market. However, it is expected to bounce back, following an initial loss, since there are long-term growth opportunities in all its business segments. Since March 22, 2020, it has experienced disruption and incurred losses of more than INR 27.67 Bn in a week (March to April 2020). Demand and supply sides were affected due to halt in economic activities. Online shopping experienced a setback due to restrictions on physical movement and the shutdown of businesses, impacting the supply chain. About 8% of the modern retail trade could not function since the sale of non-essential goods was prohibited. Therefore, there was a steady decline in the sale of fast moving consumer goods (FMCGs).
The e-grocery segment developed rapidly in light of current events. The personal hygiene and care segment experienced steady growth in the first quarter of FY 2021. It accounts for ~4.5% of the total Gross merchandise volume (GMV) of the e-commerce platforms.

Competitive insights:
E-commerce companies have brought in various technologies such as voice recognition, virtual reality (VR), augmented reality (AR), fintech, artificial intelligence (AI), and machine learning (ML) to attract customers and compete with other players. Organizations such as Amazon, Flipkart, Goibibo, Ola, Zomato, and Ixigo have employed voice assistants for assisting customers with their queries, thereby improving customers’ satisfaction. They also use fintech-based payment platforms such as PayPal, Apple Pay, Google Pay, and Amazon Pay to offer secure and efficient online payment methods to consumers.
Companies covered
• Infibeam Avenues Ltd.
• Info Edge (India) Ltd.
• Thomas Cook (India) Ltd.
• BigTree Entertainment Pvt. Ltd.
• Flipkart Internet Pvt. Ltd.
• Jasper Infotech Pvt. Ltd.
• MakeMyTrip (India) Pvt. Ltd.
• One97 Communications Ltd.
• People Interactive (India) Pvt. Ltd.
• Amazon India Ltd.

Technology Landscape in India e-Commerce Market 2021

The post E-commerce Market in India 2021 first appeared on CRI Report.