Monday, April 13, 2015

The bright future of Internet in India

India’s tremendous surge in the internet market has not gone unnoticed by internet giants. According to statistics Indian users rose from the 50 million mark in 2007 to a staggering 100 million in 2010 and expanded to an unprecedented 300 million plus in 2014. These figures prove that India is the second highest global internet market and has a lot more potential.

The Internet in India took more than ten year to reach the 100 million mark and nearly 3 years to go from 100 million to 300 million. Clearly, Internet has become mainstream in India. According to a recent study, merchandise purchased through online portals in the Indian market is also going to see a steep increase from the $11 billion in 2013 to an astounding $137 billion in 2020. The study was conducted by the American multinational financial services corporation Morgan Stanley; they have also researched that the Indian internet industry value could touch up to $200 billion in the near future.

In 2013, the $11 billion Indian internet market was dominated by the travel industry which formed $8 billion, next came e-commerce, which was around $3 billion and advertising/classifieds made up for the remaining. But, the facts are about to change as e-commerce is set to overtake the overall internet market with a compound annual growth rate (CAGR) of 66% ($102 billion), it will be followed by travel with a CAGR of 20% ($28 billion) and the rest will be online advertising/classifieds with a CAGR of 14% ($7 billion).

With such figures, it can’t be surprising that India has one of the fast growing internet bases in the world. With 24 crore people online and nearly three times that yet to come aboard, the future is ripe for many telecommunications companies in India. Take for example, Tikona Digital Networks, a company barely seven years old that’s making waves in this sector. Started by three individuals in 2008, the Mumbai-based company has a subscriber base of 2.5 lakh and that number is growing. By providing a new-age broadband solution to consumers, the company has differentiated itself from the competition right at the onset. Additionally, the proprietary wireless technology has also allowed Tikona to expand further into Tier 1 and Titer 2 cities in India, where most of India’s population still lives. With this, the company has ensured that it’s relevant to the next wave of internet users from India.

No comments :

Post a Comment