Tuesday, Mar 19 2024 | Time 13:42 Hrs(IST)
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Business Economy


In next 5 yrs, 500 million new internet users may be added in India

New Delhi, Nov 15 (UNI) A recent Risk Review Report on mobile applications has highlighted that in June 2018 India was the world's second largest telecommunications market with a wireless subscriber base of 1.15 billion, internet subscriber base of 512.26 million, and wireless internet subscriber base of 491.1 million.
The report released by Alea Consulting has stated that the growing usage of mobile internet has created a new market for advertisers. Digital advertising spend is expected to reach US$1.7 billion this year at a CAGR of 30%. 500 million new internet users may be added in India within the next 5 years, opening a new phase of development in the mobile industry.
The risk review report also stated that from April 2000 to June 2018, India's Telecom industry attracted FDI of over US$32 billion. Meanwhile, an India Brand Equity Foundation (IBEF) study suggests that by 2020, the mobile industry is expected to create an economic value of US$217 billion.
The report suggests that urban mobile internet penetration was 59% and rural was 18%. The increasing usage of internet has resulted in a multitude of powerful applications that impact every aspect of our lives and allow users to connect, inform, entertain, travel and locate using the smartphone.
On Mobile applications front, India is the second largest market for mobile application downloads. In 2017 users downloaded 58 billion (out of 175 billion) applications. Mobile applications are segmented basis the marketplace, i.e. Apple Store, Google Play Store and Windows; and end user requirements like banking & finance, gaming, social networking, health and fitness, jobs, music, education, entertainment news and media, retail and travel.
It also suggested that the Indian mobile application market has seen an aggressive involvement of global companies like Google, Microsoft, HP, SAP, China Mobile, Samsung, Apple, Opera Software, and various Indian mobile manufacturers. These applications have influenced the lives of users by providing access to information, purchase, sales, and maps, connecting and interacting in a multitude of ways.
"India ranked 29th globally in revenue generation with US$47 million from the sale of mobile applications through iOS & Google Play. The top three are USA with US$3.2 billion, Japan with US$2.7 billion, and China (only iOS) with US$2.4 billion," it further stated.
"India's internet usage is in a growth trajectory, and there are significant opportunities for growth of Mobile Apps in social networking, online shopping, mobile e commerce and technology enabled applications segments. Automated shopping is not too far away in India with 24-hour unmanned shopping experience using sophisticated Mobile Apps.
"Mobile apps will enable Internet of Things (IoT) taking Mobile App usage to greater heights. These advancements will attract more investment from companies, and spur a whole new generation of startups," the report mentioned.
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