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Millennials Make India An Attractive Market: Adobe

Tech-savvy millennials in India are the next growth engine for the digital economy and keeping them in mind, software giant Adobe is aggressively developing cross-Cloud solutions to help brands create efficient customer experiences.

According to Kulmeet Bawa, Managing Director (South Asia) at Adobe, India is the company’s second largest base out of North America.

“India is an attractive market because it has the world’s largest population of millennials and is quickly turning into a mobile-only country where better digital experiences matter,” Bawa told IANS on the sidelines of Adobe Symposium 2019 here.

In the first quarter of 2019, the company recorded a global revenue of $2.60 billion. While the digital media segment churned out $1.78 billion, the digital experience segment contributed $743 million to the company’s total 2019 Q1 revenue.

The company and its services have gathered momentum across travel, hospitality, telecom, e-commerce and banking verticals in India, with clients like Vistara, SpiceJet, Taj Hotels, Airtel, Vodafone-Idea, Flipkart, Myntra, Nykaa and HDFC.“We don’t segment revenue and growth rate by country, but the Asia Pacific (APAC) region contributes about 14 percent to the global revenue for Adobe and India is one of the fastest growing markets for us in the APAC region. Our economy is on its way to reaching the trillion-dollar prophecy by 2025,” the Adobe executive informed.

Talking about expanding to more sectors with their Cloud-based solutions, Bawa said the growth is coming from automobiles, real estate, education, government, banking and manufacturing sectors.

Apart from its plans of shifting to a Cloud model and becoming a leading provider of Digital Media and Digital Experience services, the company is keen on solving paper-based inefficiency issues.

“Everything has moved online but one thing we have not completely solved is paper and paper-based inefficiencies. Being the original inventor of PDF, we have taken it upon us that we need to solve this last inefficiency,” Bawa noted.

Bawa said Adobe’s recent acquisition of two companies — Marketo and Magento — has been a step long due in strengthening the foundation of its services.

The company is focusing on technologies like Deep Learning, Machine Learning (ML) and Artificial Intelligence (AI) to enhance the services in its Creative, Document and Experience Cloud offerings.

“We keep furthering what we are doing in terms of research and our AI and ML technology — Adobe Sensei — deeply embedded into Adobe Experience Cloud solutions. We have enough on our plate for now,” said Bawa.

The company is also working to enhance voice capabilities, recognizing its immense potential for future growth.―India Finance News

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