Some of the world’s most profitable startups like Uber, Slack, Airbnb, Square, WhatsApp and Instagram had been established between 2008 and 2010, the length is recognised as the wonderful recession.
While the coronavirus pandemic is wreaking havoc on our lives and the economy, it additionally offers enterprise possibilities for entrepreneurs who are inclined to take the leap.
Let’s take a seem to be at the possibilities that this lockdown has created for Indian entrepreneurs.
India has one of the biggest training ecosystems in the world with 1.5 million colleges and an estimated 280 million college students by means of 2021. According to 2017 KPMG and Google study, India’s on line training market will be well worth $2 billion by way of 2021. However, this lockdown triggered by way of COVID-19 has compelled faculties and faculties to shut down indefinitely, leaving tens of millions of college students unable to get admission to education.
Indian edtech startups have taken this chance to provide their structures free of cost to colleges and students, displaying the plausible of on line schooling in altering India’s training forever. Take the instance of India’s solely edtech unicorn Byju’s which has over 50 million registered customers on its platform and 13.5 million of them commenced the usage of their platform all through the month of March and April alone.
One of the largest organization that has taken the world through storm for the duration of the lockdown is none different than Zoom. This lockdown furnished a best chance for Zoom to emerge as the go-to video conferencing app for each and every predominant tech massive like Deloitte, Uber, Slack, Zendesk and Autodesk. In December 2019, Zoom had 10 million each day energetic users. The corporation has witnessed a large 30x boom inside the closing few months and their day by day lively customers now stand at over 300 million. This possibility has been seized via different video conferencing corporations as well, like Google and Microsoft.
An Indian startup that has been making the rounds currently with its famous web-based on line tournament platform is Airmeet. This Bengaluru-based startup has taken the chance to allow the corporations to host stay occasions via its platform as all principal occasions and conferences are now being hosted online.
Online Grocery Delivery
Online grocery shipping has been one of the hardest markets to crack for Indian startups the low-profit margins and excessive churn rates. At the second on line meals and grocery retail represent only 0.2% of the ordinary retail market and it is anticipated to contact 1.2% via the 12 months 2023. While 1.2% doesn’t sound much, it skill that this enterprise may want to be well worth $10.5 billion by way of 2023.
Like any different enterprise on the list, on-line grocery transport startups have witnessed exponential increase for the duration of the lockdown. Take the instance of India’s grocery shipping unicorn BigBasket which was once handing over about 1,50,000 transport each and every day is now making shut to 3,00,000 deliveries each and every day.
The increase has been so enormous that Amazon and Flipkart have additionally ramped up their grocery transport business. However, all these startups mixed have been unable to preserve up with the ever-rising demand. According to enterprise estimates, the country’s on-line grocery sale will be well worth $3 billion this year, a sharp 73% bounce from remaining year’s $1.7 billion.
According to an ASSOCHAM-PwC report, India’s OTT video streaming market is predicted to develop at a CAGR of 22% in the course of the length of 2017-2022 to attain a market measurement of $823 million by means of 2022.
While OTT is nonetheless in the nascent tiers in India, with the lockdown, cinema halls all round the usa have been closed and greater and greater human beings are spending time observing content material on video streaming systems like Netflix and Amazon Prime Video. This has given a improve to the OTT systems in India and arounGaming
According to a Google and KPMG report, India’s on-line gaming market is estimated to attain $1 billion by way of 2021 from $290 million in 2017. However, with humans spending extra and extra time on their cellular phones, these numbers may want to be reached lots quicker than until now anticipated.
Paytm First Games witnessed a large 200% boom in its person base in the month of March gaining a surprising 75,000 customers each month. However, Ludo King, a recreation with the aid of Gametion Technologies appears to be a clear winner in the on-line gaming market. This sport had in basic terms 15 million each day lively customers earlier than the lockdown commenced however at its peak, it had extra than 250 million customers taking part in the sport daily. While the quantity has long past down to forty million now, it is nevertheless appreciably higher.