According to Deloitte’s Technology, Media, and Telecommunications (TMT) Predictions 2020 report, 5G private network deployments will emerge as the preferred connectivity choice for enterprises across the world in 2020 as adoption of 5G in India will open new doors for innovation by building R&D capabilities.
Moreover, the largest elements of smartphone multipliers in India are expected to be hardware accessories, mobile advertising, and financial services in 2020. As far as the mobile accessories market is concerned, it is expected to grow at CAGR of 10.5 per cent and the total revenue potential for this sector is pegged at $3.6 billion in 2023.
The report further highlighted that 70 per cent of the industry is estimated to be unorganised which presents a great opportunity for all the committed brands to strengthen their foothold.
Coming to digital advertising, the report also mentioned that content distribution networks (CDNs) will be major players in the digital content space. India currently has an audience base of 350 million which is predicted to grow to 500 million in 2020.
Consequently, this is expected to cause a surge in mobile data traffic, which will grow at a CAGR of 40 per cent to reach 5.5 exabytes per month in 2021. Meanwhile, video is likely to contribute 75 per cent of this data traffic. Of this 75 per cent new video audience, rural India is expected to drive the growth of the digital content.