The future of Information Technology and Information Technology-enabled Services (ITeS) players in India and globally is dependent on how fast they adapt to the changes in customer demand.
“There needs to be a strategic shift in solution offerings and supportive ecosystem going forward wherein vendors provide not just the standard core industry platforms, but also think ahead of the curve,” according to a study by KPMG India.
The report also identified sectors like retail, healthcare, telecom, financial services and government, which account for a significant portion of it vendors’ revenues, to be amongst the most promising sectors in terms of growth.
Across the world, the retail industry is at the centre of a major shift in the way consumers shop and interact with their retailers, it said.
“After almost a century of customers going to the store, the store is now coming to the customer,” it said, adding, embedded systems are changing every point in a retailer’s business, from sourcing of goods to their distribution to display in stores and checkout.
This disruptive technology is enabling a connected ecosystem of devices that allow a retailer to have a real-time view of every step in its value chain.
DIGITAL CONSUMERISM
A rise in adoption of digital technologies by consumers will lead to the convergence of new age technologies, the report launched at ‘Nasscom India Leadership Forum 2013’, said.
“A rapid increase in digital consumerism will be seen in the coming decade and we are already witnessing micro-segmentation of customers and product and services being tailored at individual level,” Udhas said.
Digitally active consumers have embraced the internet, telecom, media and social space; changing the way they communicate, transact and make purchase decisions, thus leading to the birth of an era of digital consumerism. The rise in the number of consumers who shop online, seek recommendations and interact with brands presents a tremendous opportunity for companies.
KPMG India has identified embedded systems, augmented reality, mobility, social media, cloud computing and big data as the six major disruptive technologies that will have a significant impact on key industries.
The advisory and consultancy firm estimates that business transactions on the internet, business-to-business and business-to-consumer will reach 450 billion a day by 2020.