India’s internet user base is the second largest to China, according to NASSCOM — AKAMAI Technologies Report. The report, titled “The Future of Internet in India”, reveals the ways internet has penetrated into various sectors including E-commerce, Travel and Hospitality, Public Sector, Financial Technology and Media. Besides measuring the impact of the internet in these areas, it also estimates the future trends of how the landscape of India will change due to the internet.
According to the report, the online shopping will account for two-thirds of the total e-Commerce market. The overall e-Commerce market in India is valued $17 billion in FY 2016, and by 2020, India is estimated to have 702 million smartphones in use. This will promote the online shopping further. The study said that the smartphones will be the preferred device for 70% of total online shopping.
In online shopping, the fashion and lifestyle segment will be the largest category registering 35% contribution to e-Commerce GMV by 2020.
Also, in the travel segment, around 50% of transactions will be held online. The competitive pricing offers given by the online travel agents and aggregators will trigger this increase in transaction.
“India’s Internet consumption has already exceeded the USA to become No. 2 globally. Keeping into consideration the massive impact that the Internet is creating across sectors, it has become the greatest disruptor of our age by changing the way we work, interacts socially and lives life in general. By 2020, the Internet is expected to penetrate deeper in the hinterlands of the country, helping to create more opportunities for everyone,” commented Mr. R Chandrashekhar, President, NASSCOM.
In media and OTT services, the content consumption patterns will evolve. The National Association of Software & Services Companies (NASSCOM) and Akamai Technologies, Inc. partnered for this research. The leading media platform YourStory.com conducted the research for the duo.