Hero Electronix is branching out from the cycle and bike manufacturing business of its group company to dive into AI-driven smart home technologies.
“It is still a nascent market, and therefore, opportunities to grow are big. Unlike in smartphones, where the category was dominated by local Indian brands and then Chinese brands completely killed that competition, this is the other way round,” says Yugal Joshi, vice-president of Everest Group, a Dallas-based consultancy firm. “The IoT and AI-enabled smart devices market is dominated by non-Indians and it will be interesting to see how companies such as Hero can compete with deep-pocketed and well-funded Chinese players.”
