Insights

The businesses need to consider a lot when deciding between developing a product or a platform. A product is a consumable or usable piece of software, while a platform is a system that enables a product to work or communicate with another product. The following considerations can help your business decide which path to take:

• Products generate a single revenue stream, while platforms, which we identify as intermediaries that link two or more separate user groups and allow direct interaction between them, can generate several revenue streams.

Robotic Process Automation Market in India

Robotic Process Automation market demand in India will increase at a CAGR of more than 20% in the next coming 5 years 2019-2025. Indian RPA market is lagging behind the global market (North America and Europe regions) we expect this to the gap to reduce over the next few years. we try to focus on a few challenges related to the Indian scenario and what should be the approach to be adopted for RPA Vendor and Services partner.

Challenges for RPA Adoption

The Global Consumer Electronics market started to realize many paradigm-changing innovations for the last few years like 5G, Extended Reality, Blockchain, etc. While the COVID-19 Pandemic has slowed the spread of Innovation in most of the cases, it also has boosted the demand for some of the Consumer Electronics and Smart wearables embedded with sensors that monitor various health factors.

One of the most common challenges faced by organizations to adopt a platform strategy is speed-to-market. Speed-to-market means bringing software upfront that can-do various things and quickly delivered.  Developing everything from scratch all the time takes more time to losing to competition. Customers and service integrators must resort to platform way of envisioning and delivering features that involve low/no-code development environment resulting in high quality and speed to market.

Enterprises are becoming more heavily focused on Blockchain for their strategic initiatives. A recent report found 75% of executive respondents are looking at how they can use Blockchain to their advantage. Only 1% reported Blockchain was not relevant to them. 

However, despite the interest in Blockchain, majority of the enterprises are still unclear about Blockchain technology and 30% are struggling to get started. Hence taking a balanced approach will be critical to success.