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Emergence of New Digital Platforms Drives Growth: MakeMyTrip

Mobile-centric approach drives growth, says MakeMyTrip

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smartphone, sex life
Smartphones in bed can ruin your sex life for sure. Pixabay

A mobile-centric approach and the emergence of new digital platforms fuelling greater adoption of e-commerce has driven reach and growth of MakeMyTrip, the online travel company said in a presentation to investors.

With 28.1 per cent growth, the platform’s gross bookings reached $5.4 billion in the 2019 financial year compared to the previous year.

In the first half of fiscal year 2020, gross bookings reached $3.2 billion, a growth of 22.3 per cent year-over-year.

Its adjusted revenue grew 17.3 per cent year-over-year to reach $379.6 million during the first half of this fiscal.

The platform experienced 13.5 per cent growth in air ticketing segment, 13 per cent growth in standalone online hotel bookings and 37.4 per cent year-over-year growth in bus tickets sold.

MakeMyTrip
MakeMyTrip is an online travel company and offers its customers travel services. Wikimedia Commons

Increasing use of Artificial Intelligence, Machine Learning and Big Data is driving better user experience, MakeMyTrip claimed.

Low penetration of hotels booked online presents large opportunities of growth in India, according to the presentation.

While the current online hotel booking penetration rate is just 15 per cent in India, it is about 30 per cent in China, 41 per cent in European Union and 46 per cent in the US.

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MakeMyTrip offers its customers with access to all major domestic full-service and low-cost airlines operating in India and all major airlines operating to and from India, over 66,500 domestic accommodation properties in India and more than 500,000 properties outside India, Indian Railways and all major Indian bus operators. (IANS)

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Global Smartphone Sales All Set To Reach 1.57bn Units in 2020: Gartner Report

The key focus for vendors will be access to 5G and enhancement of the camera technology within devices

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Smartphone
Smartphone sales will register growth in 2020 as the demand for mid-price smartphones rises in India. Pixabay

Global sales of smartphones to end users are set to reach 1.57 billion units in 2020, which is an increase of three per cent year over year (YoY), a new report by Gartner, Inc. said on Tuesday.

In 2019, worldwide smartphone sales declined two per cent — the first time since 2008 that the global smartphone market experienced a decline.

“2019 was a challenging year for smartphone vendors, primarily due to oversupply in the high-end sector in mature markets and longer replacement cycles overall,” Annette Zimmermann, Research Vice President at Gartner, said in a statement.

“However, in 2020, the market is expected to rebound with the introduction of 5G network coverage in more countries and as users who may have delayed their smartphone purchases until 2020 in expectation of price reductions begin buying again,” added Zimmermann.

According to the market research agency, sales of 5G mobile phones will total 221 million units in 2020 — which will account for 12 per cent of overall mobile phone sales — and more than double in 2021, to 489 million units.

“The commercialisation of 5G phones will accelerate in 2020. 5G phones costing under $300 have been announced, so sales growth of 5G phones is expected to exceed that of 4G phones over twelve months,” noted Zimmermann.

From a regional perspective, the Middle East and North Africa, mature Asia/Pacific and Greater China (including China, Taiwan and Hong Kong) will exhibit the highest growth rates in 2020, at 5.9 per cent, 5.7 per cent and 5.1 per cent, respectively.

Smartphone
Global sales of smartphones to end users are set to reach 1.57 billion units in 2020, which is an increase of three per cent year over year (YoY), a new report by Gartner, Inc. said on Tuesday. Wikimedia Commons

Strong demand for 5G phones in general, together with expectations of Apple’s first 5G iPhone, will bolster demand for smartphones, particularly in Asia/Pacific and Greater China. “Smartphone sales will register growth in 2020 as the demand for mid-price smartphones rises in India,” said Anshul Gupta, Senior Research Director at Gartner.

“Premium features including improved camera, display at affordable price will remain key for growth in the Indian smartphone market in 2020.” According to Gartner, attention at this year’s Mobile World Congress (MWC) will be drawn to 5G devices at either end of the price scale, some of which may be revealed before the event.

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“The key focus for vendors will be access to 5G and enhancement of the camera technology within devices,” said Zimmermann. (IANS)