Know How Technology Landscape is Turning Future of Indian E-commerce Market
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The e-commerce market in India was valued at INR 3,550.70 Bn in 2018 and is expected to reach INR 10,494.38 Bn by 2024, expanding at a compound annual growth rate (CAGR) of 18.15% during the 2019-2024 period. To stay afloat in the competitive market, e-commerce companies are incorporating advanced technologies such as Internet of Things (IoT), voice recognition, fintech, robotics, virtual reality, artificial intelligence (AI) and machine learning (ML) in their online platforms.
By 2021, 70% of the retailers across the world are expected to use IoT technology in their businesses to improve customer experience, enhance supply chain management and unravel new opportunities to increase their net revenue. Indian e-commerce companies are heavily investing in IoT devices such as sensors and RFID tags, among other devices, to achieve real-time visibility in their warehouses. Apart from instantaneous tracking and monitoring of warehouses, these IoT devices also eliminate chances of human errors while handling goods.
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E-commerce companies are using virtual and augmented reality (VR & AR) to create virtual showrooms/stores which can provide real-life experiences to customers. These showrooms feature detailed product previews and imitate in-store experiences, which further increase customers’ satisfaction and reduce product return rates.
Payment choices including credit and debit cards, net-banking and e-wallets cater to ~30% of online sales when compared to the cash on delivery (CoD) payment option in India. With support from the government’s Digital India initiative, cashless payment solution using Fintech is expected to enhance the e-commerce market in India. Consequently, e-commerce companies are incorporating Fintech-based payment platforms like Apple Pay, Google Pay and Amazon Pay to improve the security and efficiency of online payment methods.
Artificial intelligence allows e-commerce businesses to identify patterns and trends, which help retailers understand customers’ requirements better. Using AI and ML, e-commerce companies are offering marketing strategies, personalized suggestions, voice-based chatbot assistance and visual searches. Amazon uses machine learning technology to improve address quality, which facilitates timely delivery of packages to its customers.
From managing warehouse to making deliveries, robotics has helped boost e-commerce business operations. In 2019, Flipkart Internet Pvt. Ltd. deployed 100 Automated Guided Vehicles (AGVs) in its Bengaluru sortation center to increase its efficiency by 60%.
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Key Answers Captured in Study are
Which geography would have better demand for product/services?
What strategies of big players help them acquire share in regional market?
Countries that may see the steep rise in CAGR & year-on-year (Y-O-Y) growth?
How feasible is market for long term investment?
What opportunity the country would offer for existing and new players in the Technology Landscape in E-commerce market?
Risk side analysis involved with suppliers in specific geography?
What influencing factors driving the demand of Technology Landscape in E-commerce near future?
What is the impact analysis of various factors in the Technology Landscape in India E-commerce market growth?
What are the recent trends in the regional market and how successful they are?
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Some extract from Table of Contents
• Overview of Technology Landscape in India E-commerce Market
• Technology Landscape in E-commerce Size (Sales Volume) Comparison by Type (2019-2025)
• Technology Landscape in E-commerce Size (Consumption) and Market Share Comparison by Application (2019-2025)
• Technology Landscape in E-commerce Size (Value) Comparison by Region (2019-2025)
• Technology Landscape in E-commerce Sales, Revenue and Growth Rate (2019-2025)
• Technology Landscape in E-commerce Competitive Situation and Trends
• Players/Suppliers High Performance Pigments Manufacturing Base Distribution, Sales Area, Product Type
• Analyze competitors, including all important parameters of Technology Landscape in E-commerce
• Technology Landscape in India E-commerce Manufacturing Cost Analysis
• Marketing Strategy Analysis, Research Conclusions
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