The consumer electronics and technology field is rapidly growing in India. From Gaming and wearables to smart home devices, new tech trends are shaping how people interact with devices and new information.
As per the experts, 2024 will witness some major leaps in innovation across the sectors, redefining consumer experiences.
The Rise of Premium Gaming Hardware:
Gaming is going high-end, with the emerging gaming industry in India projected to reach a $3.4 billion global market. This growth shows the shift of Indian consumers towards premium gaming hardware like gaming PCs, consoles, gaming controllers and large monitors.
More affordable prices are making high-quality gaming computers popular. New portable types are coming out. They have PC power but are as easy to carry as phones. This brings advanced gaming to mobile users. Demand is increasing for top gaming monitors. These monitors refresh the image faster and respond quicker to controls. Features like AMD Free Sync improve the viewing experience. All of this shows gamers want premium gaming experiences.
Top Gaming Hardware Picks in India:
LG 24" Gaming Monitor - Full HD IPS panel, 75Hz refresh rate and 1ms response time.
HP M27f 27" Monitor - Stunning visuals with 99% sRGB color gamut and 165Hz refresh rate.
LG 34" Ultrawide Monitor - Immersive UltraWide QHD display and AMD FreeSync for fluid gaming.
Acer Nitro VG240YS Monitor - Full HD visuals at 165Hz refresh rate on an IPS panel.
EvoFox Elite Ops Wireless Gamepad- The EvoFox Elite Ops Wireless Gamepad with Type C Charging is the ideal Gamepad.
Standalone Wearables are becoming famous:
As per the research India’s wearables market saw 21% yearly growth in the beginning of 2024. Gadgets like smartwatches are evolving beyond just smartphone companions into standalone products with specialized features.
Smart sensors and AI allow detailed health reports. Premium wearables now provide real-time monitoring and blood sugar tracking amongst other medical-grade data.
After the pandemic health is on the top priority of people, wearables integrated into daily routines are the next big consumer electronics trend. Affordable fitness bands serve the mass market while high-end watches cater to discerning buyers.
Premiumisation of Tech:
The market is shifting from budget-focused options. Now, there is growing demand for advanced, high-end consumer electronics.
Options like EMIs and easy return policies are helping people to move to premium products.
Audio products are also using AI to provide various features like noise cancellation and improve sound quality. As per a survey by IIMA, more than 77% orders for high end products are increased in Tier-2 and Tier-3 cities.
IoT Ecosystems:
IoT and other interconnected gadgets are changing the way of interaction with technology. Smart displays, wireless earbuds, fitness bands - everyday devices are now getting intelligent.
Industry focus is shifting to cross-compatibility using protocols like Matter, allowing home appliances, wearables, etc. to seamlessly communicate. M2M communication alongside voice assistants and device control apps are powering the rapid growth of smart home hubs.
Lighting systems, security cameras, entertainment consoles - the integration of gadgets to build intelligent, connected environments is a promising consumer electronics segment.
Key Emerging Tech Sectors in India
Multiple reports indicate Indian consumers are ramping up purchases of premium, cutting-edge products online across categories like smartphones, laptops, headphones and more.
Specific emerging domains to watch out for include:
i. AR/VR
ii. Electric Mobility
iii. Connected Fitness
iv. AIoT ( Artificial Intelligence for IoT)
v. Biometric Security