GURGAON, India, October 21, 2015 /PRNewswire/ --
The electronic commerce (e-commerce) market in India has witnessed unparalleled growth over the period FY'2012-FY'2015. The e-commerce market has witnessed an unprecedented compounded annual growth rate (CAGR) of 32.2% during the period FY'2012-FY'2015.
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The online consumer electronics market in India has been governed by B2C or B2B sales. Unlike the Indian consumer electronics market where B2B sales dominate the market, the share of B2B sales in online consumer electronics market has been quite low.
The GMV of online mobile phones and accessories market during FY'2012 was INR 8.5 billion and expanded at a fair 77.6% rate to reach INR 15.2 billion in FY'2013. Increasing popularity of smartphone and their availability at affordable prices has allowed this segment to grow at a healthy pace.
The market for online home and kitchen appliances has also been an integral part of the online consumer electronics market. The online home and kitchen appliances market is the second largest product category of the online consumer electronics market and is expected to contribute massive shares of revenue in the review period. The demand for large appliances is anticipated to surge with the rising consumer confidence in online retailers and fierce competition among players resulting into declining prices of appliances.
The growth in online computers and peripherals in India will be attributed to the growing demand of tablets and accessories. However, over the long run laptop-tablet hybrids are anticipated to dominate this market, leaving a minute share for laptops and desktops respectively.
The India online photographic equipment and accessories market broadly includes compact digital cameras, SLR and DSLR cameras as well as camera lens, flashes, batteries, chargers, reflectors, camera rigs and others. Major players in the online photographic equipment and accessories market including Flipkart, Amazon, Snapdeal, EBay and others have been fiercely competing with each by offering large discounts on cameras and accessories, even below the cost price.
The online consumer electronics market in India is majorly dominated by a few large players, which have managed to gain dominance over the market in a very short span of time. It has been observed that the top three players in the market namely, Flipkart, Snapdeal, Amazon and PayTM have collectively occupied over 80% of the market share, leaving very less scope for other smaller players.
The online consumer electronics market has displayed unprecedented growth in the last four years owing to rising smartphone and internet users, convenience of shopping online and lucrative discounts offered on products. Indian online consumer electronics market is projected to scale new heights in the coming years owing to a number of factors. The industry is likely to be driven by increasing internet penetration, rising personal disposable income, lower prices relative to brick and mortar stores and presence of a large number of online retailers.
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