Industrial Automation Magazine India

primeNumber adopts a belief in the success of a partnership strategy for its international business expansion.

Tokyo/Bengaluru, India, March 2024 – primeNumber Inc (HQ Shinagawa, Tokyo, CEO Yuki Tabe) has announced its expansion into the Indian market within the data technology sector.

Following the announcement of its entry into South Korea in November 2023, this marks the company's second venture into an Asian city. A new business development team has been established in Bengaluru, located in Southern India, aiming to extend the reach of primeNumber's flagship service, trocco, within the Indian market.

India is poised to serve as a base for business expansion into Europe, supporting the global utilisation of data.

According to a press release issued by the World Bank in October 2023, India's real GDP growth rate is projected to be 6.3% in fiscal 2023. Furthermore, according to S&P Global, India's nominal GDP will increase from 3.5 trillion USD in 2022 to 7.3 trillion USD by 2030.

On the other hand, there is also an increasing trend of promotion of Japanese startups expanding into India. With Japanese venture capital firms planning to expand to India, the Indian government has announced the establishment of a ‘Small and Medium Enterprise Promotion Office’ within the Indian Embassy in Japan. In addition, The Japan External Trade Organization (JETRO) also offers mentoring and introduces potential partners and VCs to Japanese startups entering India through its Global Acceleration Hub.

primeNumber has been developing a comprehensive data infrastructure support service ‘trocco’ in Japan. By using trocco, one can start analysing and utilising data quickly and safely with low learning costs, making it possible to build a data infrastructure that can withstand long-term operation. India is not only attracting attention for its overall economic growth potential, but when looking at the big data market, it is expected to grow at a CAGR (compound annual growth rate) of approximately 10.60% between 2023 and 2027. In addition, the Indian government is promoting the national digital policy ‘Digital India’ and is developing IndiaStack, a public-private data utilisation platform, and the data analysis and data utilisation market for Indian companies will continue to grow. primeNumber believes it is an important time to expand further into the Indian market.

primeNumber adopts a belief in the success of a partnership strategy for its international business expansion. In South Korea, where its entry was announced in November 2023, the company has signed a partnership agreement with a local IT company to expand sales channels and utilize trocco. Similarly, in India, primeNumber plans to expand its business through partnerships with IT companies supporting data utilisation within the country. With the support of JETRO, the company aims to acquire a wide range of customers across industries. The launch of trocco's AWS Mumbai region edition will also contribute to cost reduction for customers and ease the burden of data regulation compliance, enhancing the efficiency of sales channel expansion. The establishment of an Indian subsidiary is under consideration based on business expansion progress.