How Electrical Industries Changes and Its Impact on Market

Electricity is all around us. Without electricity, industrial activities, communications and services come to a halt. India’s electrical equipment industry is highly diverse and manufactures a wide range of high and low technology products. Power and electrical sector development programme in India has now gained momentum. It is very necessary that sufficient and quality electrical energy is made available to consumers at affordable price that energise their lives. Now a day’s electrical goods have become a necessity and have a strong place in human life. The contribution of Indian Electrical industry to the country's GDP has been quite substantial and the industry offers varied opportunities for manufacturing. The domestic electrical industry is expected to witness excess manufacturing capacities across generation, transmission and distribution segments. A low rate of inflation is eagerly looking forward to some good measures of investment.

Over the past 60 years or so, India has taken rapid actions in the development of the power and energy sector both in terms of enhancing power generation to widely distributed geographical boundaries. India became the third largest producer of electricity in the year 2013 with 4.8% global share in electricity generation. India has failed to meet its power sector targets by a significant margin and with tremendous opportunities ahead; this sector continues to be affect by the shortfall both on generation as well as transmission side. There are various proposals in power generation and transmission lines are currently under different implementation stages. However, the power sector in India has been plagued with a set of problem for meeting the planned targets and achievements. The major indicator of a poor track record is the inability or inefficiency to meet targets on the power generation capacity additions. The main reasons for slippage of power are slow progress of Poor Geology, Civil works, Flash Flood, Local agitation, Shortage of Manpower, Law and Order problem, and difficult site conditions etc. Equipment shortages have been a significant reason to missing its capacity addition targets for the 10th five year plan for India.

There are lots of changes required to implement power sector policy in India. As India has not witnessed such a large scale of implementation before, there is a need to review project execution capabilities to help ensure targets are met.

There are lots of opportunities available in electrical industries. Due to constant innovation and advancement in technology Electrical industries has been boosted in a bigger way thus leading to increase in production capacity, automization, improvement in quality and durability of products and so on. Development in technology has lead to enhancement in life style of common people by making durable and long lasting products available to them thus sufficing their daily needs and requirements. Electrical industrial revolution has facilitated improvement in infrastructure which subsequently has lead to employment generation which thus contributing in declining the unemployment ratio and improving quality of life of common people.

Market scenario on before E-commerce –

  ü Through traditional business org.     had  restriction w.r.t. geographical reach and      penetration.

   ü Market size and potential was confined and  limited to specific geographical area only.

  ü Local brand preference, awareness and    availability were key aspects leading to    success of business.

ü    Organization used to exploit common people on the basis of limited access and availability of selective brands and products in their respective geographical area.

ü     Since there were geographical constraint organization were confined to a limited set of target customers through which only they had the opportunity to earn profit and run their business.

·    Impact of E-Commerce revolution on Electrical Industries & Consumers –

The Online Electrical Shopping India industry continues to envolve and experience high growth in both developed and developing markets. Increasing internet and mobile penetration, m-commerce sales, advanced shipping and payment options, exciting discounts, and the push into new international markets by e-businesses are the major drivers of this unprecedented growth. Now Electrical Accessories Online Shopping is become easier. The big retailers are increasingly focusing on their digital strategies in order to gain the obvious benefits of online platforms – wider reach, always on, personalization to name a few. Big players in this space claim to have more than 50% of their revenue coming from mobile apps. The global e-commerce market is more advanced in terms of technology, awareness, and payment systems.

E-commerce facilitates consumer/individuals to update themselves about online electrical gadgets and appliances which have become a part of their daily life. It gives them their liberty and opportunity to compare products/ categories of different brands simultaneously without moving out of their house. It gives a platform to select Branded Items & Accessories Online order which suits them the best in all aspects and suffices their need to the best possible extent.

E-commerce or Online Electrical Store revolution has transpired the business model of electrical industries were by bulk buyers have the opportunity and facility to inquire online for their huge quantity requirements thus enabling them to have a single point of contact and supplier instead of searching and managing large number of vendors for their various electrical requirements. Thus it becomes easy for them to identify compare and select the best suitable brand and product under one roof which would suffices their requirement to best possible extent.