Benq targets more than Rs 1,000 cr in revenue over the next 3 years in the Indian market

0


Technology and consumer electronics maker Benq is aiming for doubled revenue growth in India and crosses Rs 1,000 crore over the next three years, helped by increased demand for display products after the pandemic and opportunities for educational institutions and others, a senior company official said.

The company expects growth of more than 50% over the next three years, supported by increased demand for larger screens/monitors by people working from home, the transition from small to large HD monitors size by gamers and the growing demand for home projectors after the pandemic, said Rajeev Singh, managing director of Benq India.

In addition, Benq India expects similar growth from its B2B segment, aided by the government’s push towards smart classroom projects and expects this segment to grow “exponentially” offering enough headroom. maneuver to develop.

Additionally, Benq, the leading display solution provider, is planning domestic manufacturing of its interactive flat panel in India through a contract manufacturer by the end of this year, it added. .

Asked about Benq’s revenue projection, Singh told PTI that it will be “Rs 1,000 crore more over the next three years. Rs 500 crore will be reached by the end of 2022.”

The company expects equal contribution from its consumers in the business-to-consumer (B2C) and business-to-business (B2B) segments, where it responds to demands from private and government institutions.

“We are among the few companies that have had a positive impact of COVID across the business and going forward we see this trend continuing. We expect to continue to grow at a rate of 50% year over year. on the other for at least the next three years,” Singh said.

Currently, 50% of Benq’s business in India is in home monitors and projectors and another 50% is in B2B, which includes data projectors for offices and classrooms and interactive flat panel displays.

“Before COVID, B2B was almost 75% and B2C 25%. During COVID, B2C’s share increased to 80% as schools and B2B offices were closed and there were fewer demand. Now it’s been balanced but it’s not like the previous one. Now B2C is strong and growing fast, but B2B has also come back. So overall we’re 50/50% “, he added.

Benq India, part of Taiwan-based Benq Corporation, expects the 50:50 ratio of the two segments to continue as government and business need these kinds of devices. Private educational institutions and the government are investing in smart classrooms, he added.

A smart classroom is an EdTech enhanced classroom where teachers use audio, video, animations, images, multimedia, etc. for teaching.

According to Singh, there is now a huge amount of content available to support smart classes.

“And there can also be interaction between the teacher and the student using these kinds of devices. So now the delivery of education in the future will be different,” he said, adding that now everyone is used to the technology.

Over the past two years, teachers have become accustomed to this technology because it was the only way they could teach students. In the future with the adaptation of technology, the demand for these fields will increase.

“For three to five years, we can grow at an 80% rate because we expect the market itself to grow at a 25% rate because there’s so much under-penetration right now.

So far, about 5 lakh classrooms in India have been converted into smart classrooms, of which about 3 lakh are done by Benq.

“India has about a million classrooms, so it is only 5% penetrated. This segment will grow exponentially…we expect it to reach at least 35% over the next three to four years” , did he declare. governments are working on it.

(Only the title and image of this report may have been edited by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Share.

Comments are closed.