In recent years, the landscape of consumer technology in India has undergone a significant transformation, driven by advancements in the Internet of Things (IoT), Virtual Reality (VR), Augmented Reality (AR), and Artificial Intelligence (AI). These technologies are not only reshaping consumer preferences but are also setting the stage for a more connected and technologically advanced future. As we look towards 2024, several key trends are poised to redefine the consumer electronics market in India.

Gaming Elevates to New Heights

India's gaming industry is on the brink of a revolution, with projections estimating its value at $3.49 billion by 2024. This growth is fueled by a shift towards high-end gaming experiences, supported by the availability of gaming PCs and portable computing devices that blend the power of traditional computers with the convenience of smartphones. This trend is further bolstered by financial schemes that make these high-end gaming experiences more accessible to a wider audience.

Smart Tech Gadgets Under ₹5,000

From smart plugs that offer remote control of home appliances to portable tyre inflators, the market is flooded with innovative gadgets designed to enhance productivity and simplify life. These devices, available on platforms like Amazon.in, are making smart technology accessible to everyone.

Wearables Become Integral to Daily Life

Once considered mere fashion accessories, wearables are now evolving into standalone devices that offer a wealth of health and fitness tracking features. This shift is supported by the decreasing average selling price of smartwatches and healthcare wearables, leading to their widespread adoption. Advances in sensor technology and AI algorithms are enabling these devices to provide more accurate and actionable health data, making them an essential part of daily life for many.

Premium Products Gain Popularity

As technology becomes more accessible, there is a growing trend towards premiumization in the consumer electronics market. This trend is characterized by a demand for high-end features and next-generation technologies, driven by increasing purchasing power and attractive financial options such as easy payment plans and cashback schemes.

AI and Smart Home Devices

Artificial Intelligence is set to play a pivotal role in the consumer electronics market, with generative AI and AI-powered assistants leading the charge. These technologies are enhancing the functionality of smartphones, audio products, and smart home devices, offering a more personalized and efficient user experience.

Conclusion

As we move towards 2024, the consumer electronics landscape in India is set to be shaped by a blend of technological innovation and changing consumer preferences. From gaming and wearables to AI-powered devices, the future holds exciting prospects for consumers and manufacturers alike. In this evolving market, Probz.ai stands out as an AI-powered platform that offers qualitative and quantitative insights, helping businesses stay ahead of the curve by understanding consumer needs and market trends.