By Archit Agarwal, Co-Founder, Crossbeats
India has risen as a go-to destination for electronics in recent years. The country harbours a large and growing market for electronics, a robust IT sector, a massively skilled labour force, and government initiatives that support its development. In the current scenario, various other components of the sector, including communications, energy efficiency, entertainment, education, and others, are undergoing significant transformation. At the forefront of this change is India, with a market size of a whopping $155 billion as of 2023, with domestic production accounting for 65%. Further, the industry received a boost of 22% in its global exports in the financial year 2024, surpassing the $20 billion mark.
Shaping the world with new innovations
As technology is advancing and adapting to the needs of customers, it is crucial to stay abreast of new developments to gain a competitive edge in the industry. In relevance to this, the following are some of the trends that are anticipated to shape the future of consumer electronics.
Wearable technology
Wearable technology has seen notable advancement in the past few years. The smart wearable devices currently available on the market have futuristic sensors, internet connectivity, and even the cloud. This ongoing trend is expected to only increase in the upcoming years, with smartwatches and advanced earphone technology guiding the way ahead. For instance, the existing wearable technology can save lives by identifying health-related issues and offering information to users and healthcare providers. Further, recently, India welcomed the launch of the first-ever OWS (Open-ear Wearable Stereo Earbuds) Arc buds with spatial audio and head-tracking technology. This technology offers an immersive 360° sound experience with dynamic audio that can be adjusted through head movements.
Home automation
As we are approaching a new era of advancement altogether, the concept of a smart home is becoming more and more common. With innovations such as AI, home automation has evolved from a luxury to a necessity. The introduction of voice-operated home automation systems, energy-efficient homes, biometrically enhanced security systems, and the expansion of the Internet of Things are revolutionising the world of home automation. These technologies not only take care of all of your chores but also provide timely operations, making your living experience easier and hassle-free.
Internet of things
The Internet of Things is driving innovation in the electronics industry. IoT involves connecting everyday objects to the internet, allowing them to accumulate and exchange data. The innovation within IoT includes the development of energy-efficient, long-range protocols, high-tech sensors, and computing devices. These technologies empower the designing of intelligent interconnected networks that increase efficiency, safety, and convenience across industries.
Sustainable electronics
Sustainable electronics are presenting a new cultural shift in the tech industry, with a focus on eco-conscious designs, responsible sourcing, and extended life span of products. Such devices are designed with energy efficiency in mind and are made with renewable materials to reduce e-waste. Further, Indian manufacturers are now prioritising recycling programs and are reducing the use of unsafe components in the manufacturing of electronic devices. Additionally, this practice of making sustainable electronics is also promoting responsible behaviour among consumers, such as responsible disposal and recycling of electronic items.
Artificial intelligence
Artificial intelligence has taken the world by storm in the past couple of years. This technology has not only proven itself as a viable alternative across industries but is taking the world forward toward a more advanced future. The electronic industry is no exception to this change. Smart factories, interconnected supply chains, and digital supply networks are gaining prominence in the electronic industry, with AI demonstrating its capability to increase productivity. The sector utilises AI in speech, natural language processing, predictive maintenance, image recognition, and other things. For instance, voice recognition in smart devices allows individuals to interact effortlessly, while AI-driven image processing optimises picture quality to deliver an immersive experience.
The way forward
In the modern world, the success of the electronic industry largely depends on design and innovation. With the evolving customer requirements and the technical progress in the sector, companies that are prioritising design thinking and creating an innovative culture within their organisation are poised to achieve long-term success. Further, with the help of conducting thorough market analysis and using design thinking methodologies, they can come up with intuitive, user-friendly products. This will not only drive the industry forward but also position India as a hub for the latest technologies and products that address the diverse requirements of both domestic and international consumers.