A report on opportunities for the Indian technology industry due to emergence of digital technologies says that there will be $37 billion of marketing opportunity for the technology sector by 2020, 17 per cent of which will be purely creative in nature. Also, the spend on digital marketing is expected to grow from 8 per cent to at least 35 per cent by 2020.
The research report titled ‘Marketing, disrupted: opportunities for the Indian technology industry’ by the National Association of Software and Service Companies (Nasscom) and SapientNitro says the rising interest in outsourcing creative marketing work and digital marketing opportunity are contributing to the huge addressable Chief Marketing Officer (CMO) market.
“New opportunities for Indian technology players are opening up that demand closer coordination with new stakeholders in businesses and modify their services to address new kinds of needs.
Technology players must review and streamline their services and offer customised solutions for modern business to make the most of the new opportunity,” said Nasscom President R. Chandrashekhar .
According to Sapient India Managing Director Rajdeep Endow, “To realise $37 billion opportunity, companies need to rethink and restructure their priorities and perspectives...First, they need to get design and experienced design capabilities; second, there is a need for experienced technology innovations such as mobile apps and augmented reality, and third, they need to build a reputation as a creative destination”. The report attempts to prepare the industry to leverage the opportunity by delivering value to the new stakeholder — the Chief Marketing Officer.
