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India Is Among The Top Three Fastest Growing Internet Markets, Says Study
Industry body Assocham and analytics firm ComScore have a released a study which shows that India is quickly becoming an important Internet market. The country has added 18 million Internet users and is seeing a growth of 41% per year. The current Internet user base is estimated to be around 125 million people.
China follows India’s lead in adding Internet users with an addition of 14 million Internet users. Russia and India seem to be showing similar patterns in Internet growth according to the report. 75% of India’s Internet demographic resides within the age group of 15-34, making India one of the world’s youngest online demographic. The age group of 15-24 has shown the fastest growth and seems to be balanced in terms of gender. The balanced gender is indicative of the empowerment that women are experiencing with the rise of the digital age. Out of 125 million users, 40% of them are women.
The staple Internet haunts for the Indian user seem to be social networking, search, news websites, portals etc. Online travel is a big part of a user’s Internet visit with every 1 out of 5 people going to book rail tickets on Indian Railway’s website. The online retail segment has pushed deeper into the userbase. The segment now has 60% reach and is seeing an influx of 37.5 million unique users per month. The average transaction on online retail and travel services across India seem to be at $31 (Rs. 1667) for the months between April and June 2012. American Express has the highest average bill per transaction at $110 (Rs. 5915) which is followed by Visa and Mastercard. This shows a very sunny outlook towards the increase of Internet transactions in the near future, something that is very important for an Internet economy to thrive correctly.
You will remember the efforts of E-commerce sites like Flipkart urging consumers to buy online and educating them about the safety of the medium. This was because Indian users seemed to have great misgivings about putting financial and banking information on the Internet.
The study shows that India will go through a massive growth period as far as the Internet segment is concerned, giving rise to more jobs and innovative services & products.
What are your thoughts on the insights offered in this report? Share them with us.
Image Source | TechWireAsia
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2012-10-29 01:20:11
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