Meet Vij , Co-founder, Lyne
“The consumer electronics sector, which is among the most active and quickly growing sectors, is showing no indications of slowing down in terms of sales or technological advancement. 2022 has also seen nothing but growth for the consumer electronics market. Especially with the health factor gaining more prominence and relevance, health tracking gadgets have taken the centre stage in innovation. Customer demand for smartwatches, with extensive health monitoring features has increased, leading to brands developing gadgets at affordable costs. Lyne, for example, has introduced the Lancer-1, a smartwatch with a complete health assessment system where it measures and monitors your necessary body vitals like heart rate, body temperature, and stress levels.
Other accessories such as headphones, earpods, and TWS showed a 62% QoQ growth in 2022, with an increased penetration, due to low prices, convenience of use, and suitable gifting options. By 2023, it is anticipated that 490 million wearable devices will be shipped worldwide.
As basic electronics are constantly updating their features to meet consumer expectations, the market growth for power banks has traditionally been slow. Despite this, since the “Work From Anywhere” idea has gained widespread acceptance throughout the globe, innovators are attempting to provide fast charge through all of their charging ports in order to gain a competitive edge.
The consumer electronics and accessories industry is anticipated to expand in the year 2023 as well. For example, the market for wireless headphones and earphones was worth INR 11.47 billion in 2016 and throughout the estimated period, it is anticipated to increase at a CAGR of 12.1%. Growth is undoubtedly impacted by manufacturing and importation expenses, but since overall demand also has an impact on these costs, the market will undoubtedly keep growing.”
“The Building Management System industry has witnessed a significant spurt in demand for HVAC systems and advanced IoT-embedded solutions. Throughout the year 2022, the industry has been amidst a technological revolution to keep up with the evolving needs of homebuyers and builders. Rapid technological advancement coupled with the adoption of IoT technologies have resulted in the creation of smarter and more efficient HVAC systems, which are enabling buildings with intelligent solutions. Building owners and facility managers are now striving towards newer energy efficiency standards as they get empowered by actionable intelligence.
The increase in pollution and poor indoor air quality has prompted India to prioritize building management solutions for ensuring an optimal working environment. With the government emphasizing on energy efficiency, green buildings, and climate control measures through its Energy Conservation (Amendment) Bill, sustainable business practices have started gaining momentum. Businesses are prioritizing converting to green buildings to be in line with the Indian government’s goal of achieving a net-zero emission status by the year 2070.
At 75F, we are very optimistic about the year ahead as we see a high demand for services in the BMS industry as businesses and building managers look towards optimizing operations and increased energy efficiency. With our Smart Building Technology and IoT solutions we look forward to being an active part of this journey towards a greener and sustainable future.”
