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Digital Smbs Key Pillar of India's Economy

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Digital Smbs Key Pillar of India's Economy Digital SMBs – Key Pillar of India’s Economy September 2019 1 Key Highlights ~75 Mn CCELERATING SMB BASE A SMB Base in India 70% IGITAL INFLUENCED SMBs D Are Digital Influenced SMBs 600+ GGREGATOR ENABLED A Aggregators are enabling rise of Digital SMBs $30 Bn RODUCTIVITY LED DIGITAL SPEND P Digital opportunity offered by SMBs (2019) 105 Mn THRIVING SMB BASE Forecasted SMB base in 2024 Note: SMBs are businesses with FTE count of 1 to 999 further divided into 3 segments (Micro : 1-9; Small : 10-99; Medium : 100-999) 2 Source: Zinnov Analysis SMB Landscape Current Tech Adoption SMB to ‘Digital SMB’ Digital Opportunity Ecosystem Initiatives Way Forward SMBs form a key pillar of the Indian Economy Key Metrics - 2019 Contribution by SMBs Indian economy & SMB contribution Indian Government’s Vision 2958 (Contribution from SMBs) 50% GDP (Constant Prices in $Bn) 40% 1183 35% 520 Employment (in Mn) 45% 35% 180 30% 75% 535 Exports (in $Bn) 50% 40% Overall Count 277 Contribution from SMBs 2015 2019 2024 Note: 1. In SMB contribution to GDP/Employment/Exports, agriculture vertical is excluded 3 Source: World Bank, News Articles, Zinnov Analysis SMB Landscape Current Tech Adoption SMB to ‘Digital SMB’ Digital Opportunity Ecosystem Initiatives Way Forward With ‘Digitalization’ being the cornerstone of India’s SMB ecosystem SMBs Vertical Digitally Influenced2 Key Sub-verticals witnessing Digitization (# Mn) Retail 25 67% Electronics Pharmacy Grocery Manufacturing 15 60% Automotive Drug & Pharma Textile Logistics 4 71% Warehousing Transportation Packaging 67 Mn Travel & Hospitality 3 74% Travel (Cabs) Hotels F&B Outlets Education 3 67% Coaching Centres Schools Colleges NGOs 3 70% 33% Charitable Service Oriented - Freelancers 3 67% Web developers App developers Consulting Professional Services 2 75% Accountants Architects Lawyers Real Estate 2 60% Brokers Developers . 75Mn segments Traditional Healthcare <2 75% Clinics Hospitals Diagnostic Labs Total SMB BFSI <2 75% Trading Insurance Agents Mutual Fund Agents base in India IT/ITeS <1 100% ISVs Resellers App Developers (FY 2019*) Media & Entertainment <1 75% WebPublishers Developers PhotographersBroadcasters -. Digital Influenced SMBs Others 2 25% Telecom Energy & Utilities - Housewife Resellers 4 100% Apparels Eatables Jewellery 1 Content Creators 2 100% Video content Social Blogs . 8 Mn Driver Partners 2 100% Cab Drivers Bike Drivers . Emerging segments 70% Delivery Partners <1 100% F&B Delivery eCommerce Hyperlocal Note: 1: Emerging Segment is the new family of SMBs which are using online products/solutions to earn their living. This category primarily consists of a single business owner ; 2: Digitally Influenced: SMB having access to digital infrastructure (PC/Smartphone and Internet). It may be listed on an aggregator portal (like Justdial) or have a website presence or listed on a social platform or communicating through WhatsApp/email; * (FY 2019 refers to the financial year ending on 31st March 2019) 4 Source: MSME, News Articles, Zinnov Analysis SMB Landscape Current Tech Adoption SMB to ‘Digital SMB’ Digital Opportunity Ecosystem Initiatives Way Forward The models of SMBs’ Digital Discovery are dramatically changing Hybrid Model Transaction Oriented Digital Presence Social-media led Discoverability Wave 4 Traditional Model Wave 3 Social Media New! SSL | Chatbots | SEO/ SEM Wave 2 influenced eCommerce eCommerce Wave 1 Social Media Domain Name + SMB Website SMBs at Wave 2, 3, 4 opting for websites: • Better customer experience SMB Digital Discovery Intensity Discovery SMB Digital • Save commission charged by Aggregators • Go Global ~5 Mn TLDs in India; 3+ Mn 400K+ 150K Over 2Mn Indian SMB pages registered Indian registered Indian registered Indian Resellers 53% attached to a Website on Facebook Resellers Resellers on Meesho 5 Source: News Articles, Zinnov Analysis SMB Landscape Current Tech Adoption SMB to ‘Digital SMB’ Digital Opportunity Ecosystem Initiatives Way Forward Indian SMBs are at evolving levels of Digital Influence 75 Mn Digital Influence Trends Transforming SMBs SMBs Distribution (~70% of Total SMBs) Level L1 Enabling next billion users go Online Emergence of new businesses through 48-52 M UBIQUITY OF CONNECTIVITY through Free Wi-Fi zones Digital Literacy & COMMUNICATION (Smartphone/PC/Internet/WhatsApp) Digital Payments getting simplified by Mobile based Omni channel platforms Level L2 messaging platforms like WhatsApp 18-21 M SPEED OF TRANSACTIONS enabling easy and cost-effective banking (UPI/IndiaStack/Payment Wallets/PoS) Level L3 Social media influenced commerce eCommerce platforms bridging the gap gaining traction between established sellers and SMBs 16-18 M RISE IN DISCOVERABILITY (Website/Online Listing/Social Media) Tech Giants partnering to provide Government offering subsidies & free Level L4 ENHANCED affordable best in class solutions solutions to make SMBs future ready 8-10 M PRODUCTIVITY (ERP/CRM/Accounting) Level L5 <50K IOT in a box for Indian SMBs across Modern tech (RPA/ Robotics) offering a TECHNOLOGY SOPHISTICATION various verticals competitive edge to Indian SMBs (RPA/IOT/Robotics) Source: News Articles, Zinnov Analysis; L5 is a subset of L4,L3,L2,L1 6 SMB Landscape Current Tech Adoption SMB to ‘Digital SMB’ Digital Opportunity Ecosystem Initiatives Way Forward SMB to a ‘DIGITAL SMB’ CURRENT ADOPTION FUTURE ADOPTION D DISCOVERABILITY I INSIGHTS ORIENTED BUSINESS G GLOBAL FOOTPRINT I INNOVATION T TRANSACTIONS A ACCESSIBILITY L LEARNING S SECURITY M MOBILITY B BLITZSCALING TECH ADOPTION Very High Very Low 7 Source: News Articles, Zinnov Analysis SMB Landscape Current Tech Adoption SMB to ‘Digital SMB’ Digital Opportunity Ecosystem Initiatives Way Forward Rising digital adoption offers a huge opportunity of ~$30 Bn in 2019… $ 26-30 Bn Total Opportunity CAGR ~ 25% $ 80-85 Bn (53%) Tapped Opportunity Digital Opportunity $ 14-16 Bn offered by SMBs 2019 (E) 2024 (P) Tapped Opportunity Across Levels (2019) L1 L2 L3 L4 L5 Levels of Adoption UBIQUITY OF SPEED OF RISE IN ENHANCED TECHNOLOGY CONNECTIVITY & TRANSACTIONS DISCOVERABILITY PRODUCTIVITY SOPHISTICATION COMMUNICATION % Share 28-30% 40-42% (Tapped Opportunity) 3-5% 18-20% 3-5% Note: : Digital Opportunity : Total addressable market across various levels of tech adoption distributed by workloads like networking, productivity solutions, payment methods and customer engagement; Spend for Smartphones are excluded in the digital opportunity ; E:Estimated, P: Predicted 8 Source: News Articles, Zinnov Analysis SMB Landscape Current Tech Adoption SMB to ‘Digital SMB’ Digital Opportunity Ecosystem Initiatives Way Forward ...which is getting unlocked by ‘Connected Nation’ Maharashtra Key Cities – Mumbai, Thane, Pune, Nagpur, Delhi NCR Key Cities - New Delhi, Noida, Gurgaon & Nasik, Aurangabad, Washim Faridabad 1 6 Key Verticals – Manufacturing, Retail, Travel & Key Verticals – Retail, Manufacturing, Hospitality, Professional Services Professional Services , Travel & Hospitality Uttar Pradesh Key Cities – Lucknow, Kanpur, Meerut, Telangana Key Cities – Hyderabad, Warangal, Varanasi, Agra Karimnagar, Adilabad 2 7 Key Verticals – Manufacturing, Retail, Travel Key Verticals – Logistics, Professional & Hospitality, Education Services, Travel & Hospitality Gujarat Key Cities – Ahmedabad, Vadodara, Rajkot, Madhya Pradesh Key Cities – Bhopal, Indore, Jabalpur, Surat, Gandhi Nagar Gwalior, Sagar 3 8 Key Verticals – Manufacturing, Education, Key Verticals – Education, Manufacturing, Retail, Professional Services Retail Tamil Nadu Key Cities – Chennai, Coimbatore, Madurai, Kerala Key Cities - Thrissur, Kochi, Kozhikode, Tirupur Thiruvananthapuram 9 4 Key Verticals – Manufacturing, Retail, Key Verticals – Manufacturing, Professional Professional Services, Travel & Hospitality Services Karnataka Key Cities – Mysore, Bengaluru, Hubli, Andhra Pradesh Key Cities – Vishakhapatnam, Vijayawada, Belgaum Anantapur 5 10 Key Verticals – Manufacturing, Logistics, Key Verticals – Logistics, Travel & Hospitality Professional Services Opportunity High Medium Low Note: States prioritization is based on three broad parameters, namely a) State Digital Business Index, b) State *Vertical* Index, c) State’s Startup Ranking. State Digital Business Index indicated combined assessment of factors including # of tech addressable SMBs, tele-density, PC and internet penetration, e-readiness rating, state GDP, average SMB asset base etc. State *vertical* Index indicates a combined assessment of various vertical specific parameters, such as vertical clusters, urbanization index, literacy rate, tourism etc., State Start up Ranking is assessment of a state with respect to the start up ecosystem 9 Source: MSME, Planning Commission, State Websites, TRAI, Ministry of Tourism, Census Report, World Bank, Ministry of Road Transport and Highways, Crisil, Zinnov Analysis SMB Landscape Current Tech Adoption SMB to ‘Digital SMB’ Digital Opportunity Ecosystem Initiatives Way Forward …and getting further unlocked by ‘Connected Verticals’ Verticals Opportunity ($Bn) % Share in Digital Opportunity L1 L2 L3 L4 L5 Retail 6.2 22% Manufacturing 4.8 17% Education 3 11% Travel & Hospitality 2.8 10% Professional Services 1.7 6% Focus on InfluenceTech Levels Logistics 1.4 5% Healthcare 1.1 4% BFSI 1.1 4% Freelancers 0.8 3% IT/ITeS 0.8 3% Real Estate 0.6 2% M & E 0.6 2% NGOs 0.3 1% Others 0.6 2% Housewife Resellers 0.8 3% Content Creators 0.6 3% Driver Partners 0.6 1% Delivery Partners 0.3 1% Legend High Medium Low Note: Tapped Opportunity: The market size of digital adoption
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