Indians online to hit 730 mn by 2020
As per the report ‘The Future of Internet in
India’, compiled by Nasscom and Akamai Technologies, the number of Internet
users in India is likely to more than double to 730 million by 2020. As of
December 2015, there were about 330 million Internet users in the country.
· India, which has an
Internet user base next only to China, will remain the fastest growing market.
· 75% of the new users
would come from rural areas and a majority of new users are expected to consume
data in local languages.
· Overall, the
e-commerce market in India, which was valued at $17 billion in 2015-16, is
expected to double to $34 billion by 2020. The number of online shoppers is
likely to more than triple to 175 million in that time, from 50 million in
2015.
· By 2020, India will
have an estimated 702 million smartphones in use and mobile phones will emerge
as the preferred device for shopping, accounting for 70% of total online
shopping.
· Currently, online
ticketing and room booking facilities are used by more than 50 million Indians
on a regular basis. By 2020, online travel is estimated to account for 40-50%
of all travel-related transactions, up from 12% in 2015. The growth is being
driven by demand as a larger, younger population comes online.
In 2016, the fintech market will be worth $8
billion, having grown 20%.
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