In 2020, the sales of smart speakers in India will exceed 1 million units for the first time, especially during the holiday season. Most people buy mainly as gifts or out of curiosity, and smart speakers are becoming more and more popular in India.
As more and more Indians accept smart devices, smart speakers are gradually becoming devices that people use every day. India's manufacturing industry is not as developed as the service industry, and it does not have a complete industrial system. Most of its overseas exports are raw materials and semi-finished products, allowing the import of home appliances and electronic products.
The total population of India is more than 1.3 billion. Under the huge population base, there is a potential wave of e-commerce demand.
In addition, India has 700 million Internet users, of which young people account for a relatively high proportion, and the population under 35 years old accounts for 65%. User participation is high.
The Indian government vigorously promotes a digital policy. In the past three years, total digital payments have grown at a compound annual growth rate (CAGR) of 61%.
This shows that the Indian market relies heavily on imported home appliances and electronic products.