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Mega Trends in India - Macro to Micro Implications of Mega Trends to 2020
Frost & Sullivan, March 2012, Pages: 129
Mega Trends in India to Accelerate by 2020 and Create Opportunities for Investment, Innovation, and New Markets
The Indian Economy Will Be Driven by Unique Forces of Change Called Mega Trends, which Will Define the Country’s Future over the Next Decade
India will be at the centre of global business and commercial activity with a 1.4 billion strong population by 2020. It will have the largest projected working-age and youngest population by that period, with 535 urban dwellers, 864 million middle class consumers, and more than a billion Gen Y individuals. Other Mega Trends such as infrastructure investment and low-cost innovative business models will help the country achieve industrial status, and a gross domestic product (GDP) of more than 10 per cent, a far cry from its agrarian beginnings. Future urbanization will bring about spatial changes to the cities, resulting in the emergence of 3 Mega-cities, 4 Mega-regions, and 8 Mega-corridors in 2025, with around 38 per cent of the total population (534.8 million) living in urban regions in 2025.
Urbanization trends that are unique to India’s spatial patterns include the creation of satellite towns and Mega Slums. By 2020, India will have 70 satellite towns built outside city limits, designed to accommodate the overspill of IT employees. The growth of the urban poor will result in the creation of Mega Slums - densely populated areas housing over 1 million urban poor. Counterintuitive to the traditional public perception of the slums as a poor, vulnerable, and risky market, these segments have emerged as a potential target audience.
They have even inspired the local players to innovatively experiment with their business models. In a bid to capture this audience, new business models in India are looking to provide ‘Value for Many’ rather than ‘Value for Money’. “The middle class will burgeon on the back of economic growth and development and account for 62 per cent of the total population,” says the analyst of this research. “The rising middle class will spur demand for white goods and compel companies to experiment in the low-cost segment.”
The Indian economy’s dependence on men will decline as more women enter the Indian Workforce. Women participation in the workforce will increase to 40 per cent and the average income of urban Indian women will increase by 50 per cent by 2020. Women in India will wield significant decision-making power and account for a bulk of consumer spending. As the demographic and workforce composition of the country changes, the political system will experience a subsequent generational shift with more educated, younger, and dynamic leaders being elected to parliament. Further, the country’s strong infrastructure system will provide the necessary support to sustain this growth.
The investments in India’s infrastructure will hit the trillion dollar mark for the first time by 2020 and in turn, shape a well-planned and connected India. A 10-fold increase in the number of broadband subscribers between 2010 and 2015 and the expected 4G rollout by 2012 will lead to a proliferation of electronic devices. “India will be linked by a chain of 1.5 billion connected devices including computers, mobile phones, tablets, and other machine-to-machine devices by 2020,” notes the analyst. “This technology explosion will foster the growth of new verticals such as e-governance and m-governance.”
The outsourcing industry will stretch its boundaries beyond India’s own Silicon Valley, Bangalore, to Tier 2 cities. These cities, with their low real estate and labour costs, well-trained professionals, and relatively more space, will emerge as future outsourcing hotspots. India is one of the most dynamic markets in the world with unique features and business opportunities. Understanding the Mega Trends in India is important as they not only provide an exhaustive insight into the key drivers shaping India but also offer a visionary outline of the future.
The ‘Macro to Micro’ scenario analysis presents the micro impact of each Mega Trend on a business and helps design the company’s future strategy for product and technology planning in India. Urbanisation, for example, at the micro level, creates many investment opportunities in smart infrastructure and new market / business opportunities for innovative products targeting urban households. By understanding the entire eco system of the Mega Trend, the most important segment of the value chain can be identified, which will redefine the company’s competitive position in the market.
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
- Urbanization
- Generation Y
- Highest working age population
- Middle bulge
- Click-n-connect
- Innovation to zero
- She-economy
- Indian economy growth
- Beyond Bangalore
- Wealth watchers
- Space jam
- Connected India
- Electric mobility
- Infrastructure development
- Generational political shift
- Top industries of the future
- Click-to-buy
- Business models of the future
- Healthcare
- Future power generation
- Sports industry
- Government-on-the-go
This Frost & Sullivan research service titled Mega Trends in India - Macro to Micro Implications of Mega Trends to 2020 focuses on more than 10 Indian Mega Trends, as identified by Frost & Sullivan. The study includes a summary of the key findings, an introduction to the concept of Mega Trends, a discussion on each of the Mega Trends with predictions until 2020, and a brief macro to micro analysis with insights on unmet needs and future opportunities. It helps the reader in making the transition from macro to micro analysis. Mega Trends have diverse meanings and impacts for different industries, companies and individuals.
These pertinent global forces are changing rapidly, bringing new competencies into play at half the lifecycle speed of the past decade. An analysis of Mega Trends and their implications is a vital cog in a company’s future strategy, development and innovation process, especially since it influences product and technology planning. Mega Trends can be used as a base for strategic decision-making in organizational functions such as marketing, R&D budget spending, product planning and development, human resource management, technology planning and innovation scouting.
This study provides an insight into the key mega trends in India that will impact and shape the country’s economy, society, and culture. Understanding these pertinent macroeconomic forces is important to identify the inherent future opportunities and the needs of the customer. For the purpose of this study, mega trends are categorized into urbanization, social, economy, technology, energy, e-mobility, infrastructure, business, health and wellness, political shift, e-governance, sports and industry-specific trends.
1. Executive Summary
2. Introduction to Mega Trends In India
3. Urbanisation in India
4. Social Trends in India
5. Economy
6. Technology
7. Innovating to Zero
8. Electric Mobility in India
9. Infrastructure Development in India
10. Generational Political Shift in India
11. Top Industries in the Future
12. Business Models of the Future
13. Health; Wellness and Well Being in India
14. Future Energy Power Generation in India
15. Game on!: Future of Sports Industry in India
16. E-Governance in India
17. Macro to Micro Analysis
18. Appendix
19. The Frost and Sullivan Story
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