KLC Services Limited’s Indian Tech Industry report identifies massive boom by 2027
HONG KONG - KLC Services Limited of Hong Kong today revealed the findings of a report based on the Indian Tech and Consumer sectors, projecting that the market will soar to an impressive US$ 300 billion by 2027, with a growth rate (CAGR) of 25%.
- (1888PressRelease) November 12, 2024 - The report is the result of extensive secondary research and primary surveys conducted over the past 18 months. It explores various trends within the Technology and Consumer industries, offering detailed analyses of sectors such as gaming, e-commerce, fintech, entertainment, and healthcare.
The unlocking of India's consumer potential is significantly influenced by advancements in digital public infrastructure and large-scale solutions. Currently, over 500 million Indians engage with entertainment and gaming services daily, while more than 1.2 billion individuals require quality healthcare. Additionally, approximately 1.1 billion people possess bank accounts and are looking to invest in financial services.
Sunil Laxman, recently appointed as KLC Services Limited’s Chief Country Head for India, commented on the report's findings, stating, “We project the Indian consumer industry will generate US$300 billion in revenue by 2027. To date, we have invested US$400 million in this sector. With a wealth of information, services, and options now accessible to consumers, there is a notable embrace of technology, along with a greater openness to new brands and products, and a willingness to spend. The swift advancement of artificial intelligence offers remarkable opportunities for businesses to connect with consumers in innovative and meaningful ways, ensuring effective purchasing outcomes while addressing privacy concerns.”
The surge in digital adoption across India has resulted in increased smartphone usage, elevated digital spending, and a significant transition from offline to online platforms. Furthermore, individuals in lower-income brackets and those residing in Tier II and III cities are rapidly embracing digital technology and becoming familiar with various applications and platforms.
According to the findings of the report, consumers allocate more than four hours each day to their smartphones on average. Fintech applications lead in usage, with 77% of participants utilizing them, largely attributed to their strong security measures and intuitive design. In close succession, entertainment applications account for a notable portion at 70%, with on-demand services regarded as necessary expenditures in the daily routines of approximately 70% of consumers.
About Us - KLC Services Limited
Our financial firm was developed to serve you. Together, we provide a wealth of experience, which we dedicate to forming innovative and thoughtful financial strategies for clients. Your lifestyle and objectives are critical for us to fully appreciate of over time so that we fulfil our requirement to deliver a plan customized to your personal journey in attaining your future plans for yourself and your family.
Providing the wide range of financial resources and capabilities of larger firms and institutions, we offer this tailored service to our retail clients.
At the time we begin to execute a financial strategy, we utilize the full expertise of our team, conducting thorough research, then carefully undertake the correct path for you which is consistent with your tolerance for risk and is designed to help you pursue your objectives. We deliver unique guidance with your financial requirements and preferences, this is at the core of everything we do.
###
space
space
Satisfied Users & 
Approved Press Releases
Print
Email
Report Spam