Digitized content plays an increasingly important role in our lives and nowhere is this more apparent than in India, the world’s second largest consumer economy. ICT, entertainment and media companies are at the forefront of this transformation, as they create and deploy new technologies for the always-on consumer.
Of course, new technologies present new opportunities. Service providers are now simplifying their products, systems and business models to eliminate legacy frameworks and networks. They are embracing digital disruptors like the Cloud, Big Data and the Internet of Everything (IoE).
The IoE is expected to create $19 trillion in value over the next 10ten years and Cisco estimates that it could create business value of up to $511 billion during this period in India alone. This includes $394.4 billion in the private sector and $116.2 billion in the public sector.
There will be huge opportunities for global service providers to help the government meet the demand for mobile and internet bandwidth as well as creating world-class networks and the physical infrastructure to deliver services. The National Optic Fibre Network for the government’s Smart Cities initiative is an example of the Indian government‘s commitment to creating successful PPP models.
The gradual penetration of India’s digitized pay-TV industry will drive major growth for the television sector in the next five years. Pay-TV SPs are improving their understanding of consumer activity, and this has potential benefits for all stakeholders, including cable service providers and broadcasters who will benefit through an increase in subscription revenues, and the government which will see an increase in service tax collections.
As digital communication channels increase and mobile devices become more intelligent, the Indian consumer will expect consistent, proactive, personalized service across a growing number of channels. The era of multi-channel integrated customer experience is here. Thus, customer experience is overtaking price and product as the key service provider brand differentiator, even as data monetization through analytics and enterprise architectures that are designed to be CAPEX and OPEX-efficient will provide increased revenue opportunities.
Both industry and business organizations will gain from this digital economy. And this is where Cisco, together with leading SPs as partners, will fulfil its role as a catalyst of change. As the Indian economy becomes integrated with digital technologies, Cisco will be helping to transform strategic growth sectors like healthcare, utilities and energy, banking, retail and manufacturing. It’s a good time for Cisco to be empowering the communications industry in India.
Authors
