Despite a few bumps in the road this year, the Indian internet market is predicted to expand and could be worth $5 trillion by 2030, according to a survey released on Monday.
India has the second-largest internet user population in the world with 780 million subscribers.
According to research from market intelligence firm Redseer Strategy Consultants, “since digital will continue to play a big role, India’s internet GMV (not valuation) would expand to around $1 trillion by 2030, equivalent to $5 trillion in public and private market cap.
The average Indian uses their smartphone for over 7.3 hours per day, which is among the highest rates in the world.
Online messaging, social media, YouTube streaming, OTT in India content, and short-form video all account for the time spent. The majority of online users come from tier 2 cities and beyond, which is interesting but not surprising, according to the study.
The time spent on user-generated material is now 2X as long as that on platform-generated content, which represents a new trend in content consumption.
The main key factors behind the surge in India’s digital Media advertising ecosystem are the sharp rise in digital consumption and greater internet penetration in Tier 2 and beyond cities.
According to the survey, India is projected to see a huge increase in digital ad investments rather than sales due to the rising number of consumers from tier 2 and beyond cities using short video commerce. Business Outreach