Consumer tech and its manufacturing: An overview

Consumer tech refers to any form of technology that is directly purchased by individuals to meet their needs, as opposed to technology created for governmental, military, or commercial use. Consumer tech comes in a variety of different forms and offers a wide range of technological capabilities. The roots of consumer tech can be traced back to the 19th century with several inventions by people like David Edward Hughes, Heinrich Rudolph Hertz, Nikola Tesla and many more who facilitated the use of electricity on a wider scale all over the world. Most of the consumer tech we use to date were inventions made during this time, namely, computers, which were developed between 1940-45, transistor radios in 1954; and the microwave oven in 1946. 

Since the 2010s, most consumer electronics have become digital electronics, which have largely merged with the computer industry, which is referred to as the consumerization of IT. Technology has continued to develop over time, improving and creating products that are twice as good as how technology used to function before, with a decline in prices, creating a technological revolution. Gadgets like computers were once an exclusive product and would require an entire room to store a few megabytes. Today, more powerful computers exist in the pockets of people in the form of smartphones or earphones. 

Current scenario

Several categories and subcategories of consumer technology exist with plenty of overlap. Some of today’s most notable consumer tech categories include smartphones, tablets, computers, self-driving cars, smart speakers, appliances, fitness and wearables, drones, and gaming equipment. Hundreds of other categories can be listed here, and these categories will continue to expand due to the advancements in technology. 

In parallel with shifts in consumer demand, the nature of products is changing. Products are getting "smarter," that is, more connected, intelligent and responsive. At the same time, how consumers view and use these products is changing and redefining the factors that determine product value and how companies capture it. Our general surroundings are changing at a fast pace. We will continue to see AI top the charts with full-use applications. As 5G innovation turns out to be more omnipresent, it will have an enormous effect on mechanical computerization and provide new degrees of network. Also, maintainable assembling will continue to be a developing need as makers plan for their monetarily cycles, attempting to wipe out waste and achieve better results with more incentives for clients. 

Manufacturing consumer tech

China is the largest producer of consumer electronics in the world, particularly in the brown goods product category. With nearly 150 million manufacturing workers and more than five times as many electronics suppliers as Japan, it has the largest electronics manufacturing ecosystem and supply chain in the entire world. Despite a brief decline in production output of 1.5% in 2016, the industry quickly rebounded in 2017 with a market growth of 3.4%, thanks to resurgent consumer interest in smart wearables, next-generation LCD TVs, and smartphones, as per the research firm, Reed. However, the recent COVID-19 outbreak has had a significant impact on not only China but also the global electronics industry. Despite ups and downs, China is a supreme power in regard to manufacturing of the consumer electronics for the world. 

Make in India

India has organized itself to become one of the economies in the world with the fastest rate of economic growth. Particularly in the story of electronic manufacturing, success and growth are on the rise. To meet the rising domestic demand for electronics, both domestic and international brands are starting to consider the Indian market as their upcoming location for electronics manufacturing.

The Indian government is aggressively pursuing the "Make in India' program as a core policy initiative to support and accelerate the nation's manufacturing sector, realizing the sector's potential for growth and its ability to provide significant employment.

Emerging technologies like artificial intelligence (AI), machine learning, the internet of things, augmented reality (AR), virtual reality (VR), and robotics are reshaping the market and increasing demand for new electronics products. The introduction of 5G will bring high-speed, ultra-low latency internet, making smart factories even smarter and boosting innovations in AI, ML, and AR. Along with these factors, the legal framework, encouraging policies, and public-private cooperation are also essential for fostering this growth.

Conclusion

India has a lot going for it in terms of raw material availability, a young labor force, and a large talent pool with manufacturing and entrepreneurial skills. If these advantages are fully utilized, India can become a true global manufacturing hub. 

The article has been written by Sridhar Thirunakara, Founder & Managing Director, Arctic Fox-Outshiny India