The technology, media & entertainment and the telecommunications (TMT) industry in India is all set to rise tohalf a trillion dollars by 2021. Currently, the Indian TMT industry stands at a quarter of a million dollars. This would denote a significant boost to the industry in India. There are many variables that have contributed to the rapidgrowth in this industry in India.
India – The New TMT Destination?
Ushering in innovative technology, today’s world is on the brink of a breakthrough, with each day seeing something new. It would not come as much of a surprise to know that India is the second largest mobile market in the world with over 1.2 billion Indian users. This only goes to show the immense success of smartphones and how well Indians have embraced it along with the benefits that come with it. Smart phones have now become essential – besides connectivity, they have also become a source of news and entertainment on the go. Also considering the fact that smartphones now come in an affordable price range, the Indian consumer makes maximum utilisation of the resource available.
As compared to its counterparts, India has managed to come a long way over the last 45 years and has evolved and adapted to digital perfection. Having left an evident trail across sectors like digital payments, sharing economy and digital infrastructure, the country has made attempts to excel in everything it sets its eyes on.
A look at the rapid disruptionin TMT
The emerging trend offers unique insights into TMT in India. Here are some reasons why TMT is experiencing a boost from a technological standpoint
1 – Better avenues for connectivity
Thanks to IoT, all systems and machines that can be connected will definitely be connected.Boundaries across industries will cease to exist. This shift will result in more players coming in with various solutions on these lines, creating a dent in the market hold of a company. To overcome this challenge, TMT companies will need to be nimble, agile, and ready to adapt to changing tech landscape and evolving customer preferences.
2 – Better bandwidth
The technology, media and entertainment and telecommunications industry are on the rise solely due to the availability of high-speed internet. With over 300 million broadband user base and considering how the Government is focusing its attention towards the rise of a “digital India”, our nation’s TMT sector looks promising.
3 – Rise in quality content consumption
Another factor that has led to the rise in media consumption is the increase in quality of content available these days. Content is King! Everything from humour to filmmaking to cinematography, Indian audiences no longer settle for sub-standardised content.
To sign off
India is making advances in the field of technology, media and entertainment and telecommunications at an unbelievable pace. It is no surprise to see the relentless digital disruption we see all around us. The outcome of this phenomenal disruption? It is ushering a business upheaval of unprecedented proportion. As a result, market boundaries are fast vanishing and bringing an improvement to the business ecosystem –modifying growth strategies and changing operating models in its wake.