According to a report issued on Monday, the Indian internet sector is expected to grow and could be worth $5 trillion by 2030, despite some setbacks this year. With 780 million users, India has the second-largest internet user population in the world.
Indian Internet Industry is expected to grow, could reach a valuation of $5 trillion by 2030
Since digital will continue to play a significant role, research from market intelligence firm Redseer Strategy Consultants predicts that ndia’s internet GMV (not valuation) would increase to over $1 trillion by 2030, which is equal to $5 trillion in public and private market cap. One of the highest rates in the world, the average Indian uses their smartphone for nearly 7.3 hours every day.
The majority of internet users in India come from Tier II cities and beyond, and the average Indian uses their smartphone for 7.3 hours each day, ranking among the most in the world
“The time is split between short-form video, social networking, YouTube streaming, OTT content, and online chat. It’s intriguing, but not surprising, that Tier 2 and above cities account for the majority of online users “The narrative mentioned A new trend in content consumption can be seen in the 2X longer time spent on user-generated content than platform-generated content. A new trend in content consumption can be seen in the 2X longer time spent on user-generated content than platform-generated content.
The main key factors behind the surge in India’s digital 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.
The significant increase in digital consumption and higher internet penetration in Tier 2 and beyond cities are the primary driving forces behind the boom in India’s digital advertising ecosystem. As more people from tier 2 and beyond cities use short video commerce, the report predicts that India would witness a significant increase in digital ad investments rather than sales.